The month of March 2020 was one for the record books. The U.S. Bureau of Labor Statistics (BLS) reported today that veteran unemployment rose from 3.5 percent to 4.1 percent for the month of March. The veteran unemployment rate is slightly lower than the national unemployment rate which rose to 4.5 percent. Overall, this is good news for veterans, as both the veteran unemployment rate and the post-9/11 veteran unemployment rate continues to stay below the national unemployment rate.

However, these figures are based on a survey of 60,000 American households that was taken on March 14th and may not reflect the true impact that COVID-19 is having on the economy. BLS always sends this survey out during the week that contains the 12th day of the month. As such, the timing of this most recent survey missed most of the economic fallout of this crisis. For reference, most states issued stay at home orders during the week that ended on March 28th.

BLS reported that a shocking 6.6 million Americans filed for unemployment insurance during the week ending on March 28th, a huge increase over the 3.3 million who filed for unemployment the week prior. This brings the total of unemployment claims for the last two weeks of March to a historic 10 million, the highest since the BLS began recording seasonally adjusted initial claims. Undoubtedly, we will see these numbers reflected in BLS’s report for the month of April, and IAVA will continue to track this issue closely.

Breaking Numbers Up By Gender

The unemployment rate for female veterans rose to 4.3 percent, whereas the rate for male veterans rose only to 4.0 percent. This figure is troublesome because female IAVA members are already more likely than their male counterparts to  report difficulty covering their monthly expenses.

The Impact on Post-9/11 Veterans

Public health strategies to curb the spread of COVID-19 have resulted in a massive disruption in our economy. Our nation will most likely feel the economic impact for the foreseeable future. Unfortunately, post-9/11 veterans will feel the impact of this crisis more so than other Americans. According to IAVA’s 10th Annual Member Survey, 35 percent of IAVA members report that it is difficult to cover their expenses in a typical month. Additionally, veterans under 55 already have more credit card debt and lower savings account balances than their non-veteran peers. This means that post-9/11 veterans are less equipped to handle unemployment or a decrease in income than their non-veteran peers.

One way that IAVA is advocating for the post-9/11 generation through this tough time is by working with our partner, Team Rubicon, to call on the government to begin credentialing military veterans from medical fields to assist in the fight against coronavirus. And we need your help. There are hundreds of thousands of sick Americans that would benefit from the expertise of veterans who have been trained in emergency medicine. Furthermore, it would help reduce the unemployment rate by letting vets get back to work using the skills and training they received in the military. 

Sign the online petition to let the White House know that this is important to you and the country.

IAVA Has Your Back

We know employment is a top concern for IAVA members and changes to employment can impact mental and physical health. That’s why we have built recommendations for policymakers into our latest policy agenda to address veteran employment — Policy Agenda: A Lasting Legacy, our roadmap for America. Check it out here. 

We know that this time can be stressful and IAVA’s Quick Reaction Force (QRF) is here to help! This program provides confidential 24/7 peer-to-peer support, comprehensive care management, and resource connections. To get connected to a Veteran Care Manager for immediate help anytime, day or night, please call 1-855-91RAPID or fill out our online form here. If you are a veteran or a veteran family member facing challenges or have questions, QRF can help by providing 24/7 peer support and connections to quality resources so you can get back on your feet and meet your goals.

If you are currently experiencing a crisis please contact the Veterans Crisis Line at 1.800.273.8255, and press 1. Alternatively, use the Crisis Text Line by texting “RISING” to 741741.