Jobs News

Veteran Unemployment Continues to Decline, Lowest Rate in Five Years

 

Because the month-to-month figures for this demographic are volatile, the longer term trend is a more reliable measure that continues to show a consistent decline for over three years. The 12-month moving average slightly dropped from 9.23 to 8.94 percent, and in the below graph, you can see the overall decline in the rate since January 2010.

 

 

These stats are encouraging. Even though in certain demographic groups we still see a higher unemployment rate than the national average, there is a clear overall decline in unemployment. That being said, we know there’s still more work to be done. VA is working daily to help remedy that through collaboration with the White House and the Chamber of Commerce “Hiring our Heroes” program, and in encouraging businesses to consider hiring veterans.

 

Efforts in this area also tie into our focus on increasing access to Veteran benefits and combating Veteran homelessness. By making Veterans aware of their benefits – in this case the educational and training benefits – we’re increasing access and helping to put Veterans on the path towards meaningful employment and a successful career. And Veterans who are trained and employed have the resources to get off the streets.

 

I know the value of these programs, training and the importance of employment to one’s self-confidence. My coworkers – many of them Veterans themselves – also know this, and VA’s entire team is committed to helping those who have served us. Our work will continue to help our Veterans.

 

Find more information about education and training opportunities, vocational rehabilitation, and the Veterans Retraining Assistance Program on the VA website.

Fixing Our Broken Immigration System: The Economic Case for the Agricultural Industry

Watch the video.

Today, Jason Berry the owner of Berry Farms in Vivaldia, Georgia joined a call with Secretary of Agriculture Tom Vilsack to highlight the important economic benefits of immigration reform to the agricultural industry.  Jason’s company produces 200 acres of organic blueberries, in addition to 50 acres of vegetables. In the spring and summer of 2011 a drastic shortage of farm workers, invoked by the passage of a local law, almost caused him to lose his farm.  Desperate for workers, Jason began offering $50 signing bonuses to locals who were willing to work harvesting his crops; however, based on his estimates, 90% of those new hires quit within three days.  Jason says the losses at his blueberry and vegetable farm were almost enough to put his small operation under, which would have drastically impacted him and his 15 year round employees.  Jason’s story is one echoed by many farmers in Georgia.  Jason shared his story with President Obama in late June and continues to use his story to demonstrate why immigration reform is so important to America’s farmers and the entire agricultural industry.  Check out Jason’s video here.

The Employment Situation in June

While more work remains to be done, today’s employment report provides further confirmation that the U.S. economy is continuing to recover from the worst downturn since the Great Depression. It is critical that we remain focused on pursuing policies to speed job creation and expand the middle class, as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007. 

Today’s report from the Bureau of Labor Statistics (BLS) indicates that private sector businesses added 202,000 jobs last month (see first chart below). Total non-farm payroll employment rose by 195,000 jobs in June. The economy has now added private sector jobs for 40 consecutive months, and a total of 7.2 million jobs has been added over that period. In spite of monthly volatility, over the past three years the pace of job growth has increased each year (see second chart below). So far this year, 1.23 million private sector jobs have been added.

The household survey showed that the unemployment rate remained at 7.6 percent in June down from 8.2 percent a year ago. The labor force participation rate rose by 0.1 percentage point for the second month in a row to 63.5 percent in June.

In the four years since the recession ended in June 2009, the economy has added 5.3 million jobs, thanks to the resilience of the American people and policies like the Recovery Act, which helped bring the recession to an end and put us on the path to recovery. With the recovery gaining traction, now is not the time for Washington to impose self-inflicted wounds on the economy. The President will continue to press Congress to act on the proposals he called for in his State of the Union address to make America a magnet for good jobs, help workers obtain the skills they need for those jobs, and make sure that honest work leads to a decent living.

Working Toward a Tech Sector that Reflects America

Yesterday, I had the pleasure of speaking at the Technology Inclusion Summit, hosted by Chief Technology Officer Todd Park, the Office of Science and Technology Policy, and the Level Playing Field Institute. It was an amazing gathering of private and public partners who are united in their efforts to expand opportunities for training, education and jobs in technology.

President Obama has always believed that technology is an essential part of growing our economy, creating jobs and remaining globally competitive. The President continues to be committed to encouraging the entrepreneurial spirit in our country, starting with setting a goal of 1 million Science Technology Engineering Math (STEM) graduates over the next decade. This effort also means that we need to collectively act to knock down any barriers that stand in the way.

Last August, during the Tech Inclusion Roundtable, participants came up with some great private-sector initiatives to help drive innovation across every community. Whether it was pioneering new educational tools for students of all ages, bringing technical training to underrepresented communities, or mobilizing tech company CEOs to establish mentoring programs for young people, every one of these initiatives and ideas has the potential to shape America’s future.

Hispanic-American Families Just Can’t Afford Tax Increases

As the debate over the so-called "fiscal cliff" in Washington continues, much of the conversation centers on deficit reduction, revenues, and tax rates. But what is easily lost in that conversation is the very real meaning this has for families all across America. The fact is Hispanic-American families just can't afford tax increases right now, but that's what will happen if Congress fails to act. In fact the median Hispanic family of four would see their income taxes rise by $2,200. An astounding 99 percent of Hispanic families will be affected.

President Obama is committed to growing our economy from the middle out by ensuring a strong, secure, and thriving middle-class, and is proposing a balanced approach. There is no reason to hold middle-class families hostage while we debate tax cuts for millionaires and billionaires. Below you'll find a link to a fact sheet that shows how Hispanic families will be affected. We're also asking all of you to tell us what $2,000 means to your family's budget. Take a look at our #My2K page, and tell us on twitter what that money means to you.

And download the fact sheet on the Fiscal Cliff and Hispanic-American families here. 

Building Careers for Our Older Veterans

While much focus has been devoted to education and training for our younger Veterans, we have not lost sight that we have another group who has served our Nation with distinction. Many of this group may already have some education and training, they need additional assistance to prepare them for a changing career market.

In November 2011, the President signed into law the Vow to Hire Heroes Act. This Act does many things to prepare Veterans for careers after military service, including one provision that specifically targets older veterans.  The Veterans Retraining Assistance Program, better known as VRAP, is designed to give up to 12 months of benefits for unemployed Veterans to jump-start into a new, high-demand career field. This provision specifically applies to unemployed Veterans who are between 35 and 60, and not eligible for any other education benefit.  The law limits the benefit to 99,000 Veterans. Since May, 2012, over 75,000 Veterans have applied and over 62,000 have already been approved to participate in the program. 

VRAP doesn’t end with the provision of education; it goes one step further by assisting Veterans find a career. When a Veteran completes the education or training program, they are then eligible to leverage the Department of Labor programs designed for Veterans. 

Administration Teams Up to Bring Jobs Back to America

Yesterday, the U.S. Departments of Commerce and Labor announced the Make it in America Challenge – a $40 million multi-agency competition that will help accelerate business investments in the U.S. This includes insourcing, where U.S.-based companies bring jobs back, or foreign investment, when foreign companies build factories here and hire American workers to run them.  

The competition is being funded by Commerce’s Economic Development Administration and National Institute of Standards and Technology Manufacturing Extension Partnership, and Labor’s Employment and Training Administration. It builds upon the administration’s efforts to strengthen the economy and create jobs by partnering with state, regional, and local partners. 

Beginning next year, three-year grants will be available to states, cities, nonprofits, colleges and economic development districts that develop plans to help attract companies that want to build in the U.S. but might need a few more resources.

The Employment Situation in August

While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007. To create more jobs in particularly hard-hit sectors, President Obama continues to support the elements of the American Jobs Act that have not yet passed, including further investment in infrastructure to rebuild our Nation’s ports, roads and highways, and assistance to State and local governments to prevent layoffs and to enable them to rehire hundreds of thousands of teachers and first responders. To build on the progress of the last few years, President Obama has also proposed an extension of middle class tax cuts that would prevent the typical middle class family from facing a $2,200 tax increase next year. 

Today’s report from the Bureau of Labor Statistics (BLS) shows that private sector establishments added 103,000 jobs last month, and overall non-farm payroll employment rose by 96,000. The economy has now added private sector jobs for 30 straight months, for a total of 4.6 million jobs during that period.

The household survey showed that the unemployment rate declined from 8.3 percent to 8.1 percent in August. 

Employment rose notably in leisure and hospitality (+34,000), professional and business services (+28,000), health care and social assistance (+21,700), and wholesale trade (+7,900). Manufacturing lost 15,000 jobs, including a 7,500 drop in motor vehicles and parts, which is partly payback for there having been relatively few seasonal auto plant shutdowns in July.  Over the past 30 months, manufacturers have added more than 500,000 jobs.  Government lost 7,000 jobs, as state government payrolls fell by 6,000 and local governments shed 4,000 jobs. Since February 2010, State and local governments have lost 504,000 jobs.

International Traveler Spending On Pace For a Record Setting Year

Ed. Note: This is cross-posted from commerce.gov. 

Travel and tourism spending by international visitors is helping to boost the U.S. economy. The U.S. Department of Commerce released data yesterday showing that international visitors have spent an estimated $82.2 billion on U.S. travel and tourism-related goods and services year to date, an increase of 11 percent when compared to the same period last year. Many people do not know that this boosts exports – when foreign citizens travel to America and buy goods and services from American companies, that counts as a U.S. export. The new data indicate that the first half of 2012 set a new record for U.S. travel and tourism exports, and, if these trends continue, international visitors could end up injecting close to $170 billion into the U.S. economy by year-end.

These increases help explain why the Obama administration is working hard to make the United States the top destination for international travelers. The U.S. Departments of Commerce and Interior are implementing the National Travel and Tourism Strategy, which they presented to the President in May. The National Strategy is a blueprint for expanding travel to and within the U.S., setting out the goal of attracting over 100 million international visitors annually by 2021, more than a 50 percent increase over the number expected this year. These international visitors would spend an estimated $250 billion per year, creating jobs and spurring economic growth in communities across the country.