Monster’s Veterans Talent Index indicates more veterans than not are confident in their ability to achieve success in the civilian sector
MCLEAN, Va.—July 28 2015—Monster (NYSE: MWW) and Military.com released the results of their most recent national Veterans Talent Index (VTI) today, indicating veterans and employer confidence is up.
The overall veteran unemployment rate is half that of the rate in 2011 which was nearly 10 percent. According to the VTI, a comprehensive analysis of transitioning military service members, veterans, and their employers, two-thirds of employers report they hire veterans not out of a patriotic obligation, but because employers believe veterans are the best qualified within the candidate pool.
“Generally, the process of changing attitudes and building confidence in a population tends to be slow,” said Greg Smith, President of Military.com and retired Navy Rear Admiral. “However, in four short years, both employers and veterans have done so with great results. Veteran unemployment is down and confidence in their ability to achieve success in the civilian sector is up, thanks to the tireless efforts of many.”
Some key findings in the VTI indicate location could influence the chances of a veteran finding a job. The best veteran employment rates are in Ohio, Virginia, and Texas while veteran unemployment rates in Mississippi, Louisiana, South Carolina, Ohio, and Connecticut are lower than non-veteran rates in those same states.
The report also included information on veterans’ desire to further their skill sets through on-the-job training or enrolling in a college or advanced degree program. Eighty-three percent of those surveyed indicated they planned to use their GI Bill benefits to assist in paying for further education. The VTI study also found that there are still gaps in skills translation and transferring military credentials to civilian occupations.
Some veterans have compared the difficulty and stress of moving from military service to civilian life with what people might experience when immigrating to a new country. Transitioning service members must often adapt to unfamiliar work environments, new cultural norms, and even entirely new ways to communicate with others. Many veterans have reported their transitions were among one of the most difficult things they have ever done. “Everyone who has committed time, talent, money, and effort to finding solutions to veteran unemployment should take pride that their efforts have contributed to a national solution that is working,” said Smith. “However, before we declare victory, we still have much to do. Unemployment among our youngest veterans, 18-24 years old, is still stubbornly high at over 18%; female veteran unemployment is higher than that of their male counterparts; and one out of every three veterans return to civilian life with a service connected disability. I challenge all to redouble our efforts to ensure every returning veteran has a meaningful job.”
The July 2015 Veteran Talent Index contains a wealth of useful data and findings related to the current veteran employment situation. To view the complete VTI report and results, visit www.monster.com/about/veterans-talent-index.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE:MWW), is a global leader in successfully connecting people and job opportunities. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social, and mobile solutions includingmonster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment, and talent management capabilities globally. For more information, visit monster.com/about.
Military.com is the nation's largest online military destination serving over ten million members, including active duty personnel, reservists, guard members, retirees, veterans, family members, defense workers, and those considering military careers. Military.com enables the 30 million Americans with military affinity to access information about their benefits, advance their careers, enjoy military discounts, and stay connected for life. Military.com develops efficient affinity marketing and communications programs for government agencies and companies serving this market. Military.com is a business unit of Monster Worldwide, Inc. More information is available at www.military.com.