The unemployment rate for all veterans fell to 5.5% in October, down from 6.4% in September, as the economy added jobs in the face of the surging COVID-19 pandemic, the Labor Department's Bureau of Labor Statistics reported Friday.
The jobless rate for post-9/11 veterans also dropped slightly to 6.2% in October, down from 6.4% in September, the BLS said in its monthly employment situation report.
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The report showed that veterans are faring better in the job market than the general population, which had an unemployment rate of 6.9% in October, down from 7.9% in September.
Overall, non-farm employment rose by 638,000 jobs in October, reflecting "the continued resumption of economic activity that had been curtailed due to the coronavirus pandemic and efforts to contain it," the BLS report states. "In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction."
In a cautionary note, BLS Commissioner William Beach said in a statement, "Total non-farm payroll employment has increased for six consecutive months but is down by 10.1 million [or 6.6%] since February, before the onset of the pandemic in the United States."
All major worker groups showed declines in unemployment rates in October, the BLS said.
The October rate was 6.7% for adult men, 6.5% for adult women, 13.9% for teenagers, 6.0% for whites, 10.8% for Blacks, 7.6% for Asians, and 8.8% for Hispanics, it found.
In September, the BLS reported that the rate was 7.4% for adult men, 7.7% for adult women, 15.9% for teenagers, 7.0% for whites, 12.1% for Blacks, 8.9% for Asians, and 10.3% for Hispanics.
-- Richard Sisk can be reached at Richard.Sisk@Military.com.
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