Characterizing the Economic Prospects of Veterans

The unemployment rate, an oft-cited labor market statistic, is reported by the Bureau of Labor Statistics (BLS) for veterans and nonveterans.1 Popular press, including the Wall Street Journal and the New York Times, often compares the veteran unemployment rate with the overall national unemployment rate as a way to characterize the civilian economic prospects of veterans.  In this paper, we discuss the lack of comparability of veteran and nonveteran unemployment rates and consider some of the shortcomings of comparing these metrics. We then suggest an alternative to using unemployment rates to measure the ability of those who leave military service to get a job—namely, how long it takes the respective veteran and nonveteran jobless populations to find employment.