The U.S. economy added more than 214,000 jobs in October, the Bureau of Labor Statistics reported on Friday. The job figures for August and September were also revised up by a combined 31,000 jobs, making October the ninth straight month with job gains over 200,000.

The Department of Labor’s Chief Economist, Dr. Heidi Shierholz explained what business leaders could take away from the new jobs report in a webinar hosted by Business Forward on Wednesday, November 12. As November 12 was Veterans Day, Dr. Shierholz featured statistics about the employment situation of veterans, slides from the presentation can be seen below.

There are over 10 million veterans in the labor force, making up 7 percent of the working population. Taken together, veterans are less likely to be unemployed than non-veterans. Currently, 4.5 percent of vets are unemployed, compared to the economy-wide unemployment rate of 5.8 percent. However, that statistic masks the experience of one important group – the veterans of the recent wars in Iraq and Afghanistan. The unemployment rate for veterans serving in the Gulf War II period (September 2001-present) is higher than the general population at 7.2 percent. Gulf War II vets make up 10 percent of all living vets.

Finding work is still a significant issue for many recent veterans. The Department of Labor offers the following resources to encourage businesses to hire vets and to prepare veterans for the labor force:

  • America’s Heroes at Work (AHAW) provides a hiring toolkit to help businesses create a strategy for hiring veterans.
  • Hiring Our Heroes, a nationwide initiative to help veterans, transitioning service members and military spouses find meaningful employment opportunities through the U.S. Chamber of Commerce Foundation.
  • How to find Qualified Veterans, the Department of Labor provides information on how to locate qualified veterans in your area.
  • National Resource Directory, businesses can post available jobs as well as search for Service members.
  • Veterans’ Employment and Training Service (VETS) serves America’s veterans and separating service members by preparing them for meaningful careers, providing employment resources and expertise, and protecting their employment rights.

Companies in the private sector have recognized the importance of hiring veterans. Business Forward member companies like Verizon, Lockheed Martin, and Walmart are at the forefront of hiring former service members. Verizon and Lochkeed Martin have both been named the “Most Valuable Employer for Military” by civilianjobs.com. Walmart has pledged to hire 100,000 veterans over the next five years.