WASHINGTON, D.C. — The U.S. veteran unemployment rate fell to 2.8% in November 2024, maintaining one of the lowest levels on record and far outperforming the 4.2% unemployment rate for non-veterans. The report highlights a continued trend of strong employment outcomes for veterans, even as the broader labor market shows signs of strain.
Key Trends in Veteran Employment
The November rate marks an improvement from 3.0% in October and is unchanged from November 2023. By contrast, the unemployment rate for non-veterans has risen steadily over the past year, increasing from 3.7% in November 2023 to 4.2% last month.
Breaking Down the Numbers
- Gender: Male veterans had a lower unemployment rate (2.6%) compared to male non-veterans (4.0%). Female veterans saw a rate of 3.6%, slightly better than the 3.8% for female non-veterans.
- Disability: Veterans with disabilities faced a 6.0% unemployment rate, lower than the 7.4% for non-veterans with disabilities. For veterans without disabilities, the rate was 2.6%, compared to 3.7% for non-veterans.
- Race and Ethnicity: Hispanic veterans recorded the lowest unemployment rate among all groups at 2.1%, significantly better than the 5.0% for Hispanic non-veterans. White veterans reported a 2.6% rate, African American veterans 3.3%, and Asian veterans 6.0%, with non-veteran counterparts in each group reporting higher rates.
Context and Historical Perspective
Since the Bureau of Labor Statistics began tracking seasonally adjusted veteran unemployment rates in 2019, veterans have consistently reported stronger labor outcomes compared to non-veterans. This trend continued in 2023, when the annual average veteran unemployment rate was 2.8%, mirroring this year’s November figure.