Trump’s Hiring Freeze Hurts Young Veterans
Trump’s Hiring Freeze Hurts Young Veterans

Trump’s Hiring Freeze Hurts Young Veterans

Trump’s Hiring Freeze Hurts Young Veterans

While the nation’s unemployment rate declines, the jobless trend for America’s youngest veterans is climbing, jumping to 6.3% in January from 4.4% in September.
“We still see around half a million veterans that are unemployed right now, and over a million veterans that are underemployed,” said Brian Stann, CEO of Hire Heroes USA. Economists note that the jobless rate for post-9/11 vets is volatile, and the small sample size leaves it open to inaccuracy, CNBC reported.
But even looking at the trend over a three-month period, the scenario looks tough for young vets. One reason, according to Stann: “They get out of the military and they’re competing against their peer group that just graduated college. And a lot of companies do not equate four years of military service to four years at a university or state institution.”
And it can be a huge challenge to transition from a regimented, follow-orders environment to the civilian world where self-starters succeed.
To complicate matters, Trump’s federal hiring freeze may hit veterans hardest. It’s a primary source of civilian employment post-service because of its preferential hiring practices toward veterans. A third of federal workers are veterans. 
Companies that value the leadership and experience earned in the armed forces are working to make sure veterans have that same kind of training going into the civilian world.
JPMorgan Chase committed $22 million to fund Syracuse’s Institute for Veterans, and within its company has dedicated a team to recruit, acclimate and retain veterans. The bank has hired 11,000 veterans in the past five years.
Starbucks CEO Howard Schultz also pledged $20 million to the endeavor through his family foundation. The coffee chain has hired 8,800 veterans and military spouses, and that number is slated to increase to 10,000 by next year.

Short URL : https://goo.gl/YpRwJ2
  1. https://goo.gl/UkWln4
  • https://goo.gl/YNPKg9
  • https://goo.gl/m9Vb4r
  • https://goo.gl/RtOuX1
  • https://goo.gl/YutXqj

You can also read ...

Nigeria Recovery Fragile
Nigeria’s economy grew 1.4% year-on-year in the third quarter...
The export climate index remains elevated.
Japan’s exports grew 14% over a year earlier in October on...
Mongolia Rated Positive
Fitch Ratings agency has revised Mongolia’s credit rating from...
IMF expects demand growth for housing to remain robust.
The International Monetary Fund says any pickup in Australian...
Asian Shares Dip
Asian shares fell in muted trading Monday ahead of the...
Michel Barnier during his speech in Brussels, Nov 20, said: Britain would lose its “passporting” rights to let banks automatically do business in the EU after it leaves in March 2019.
European Union Brexit chief Michel Barnier said on Monday the...
Household debt topped the list of key systemic risks cited by market watchers at 87%.
South Korea’s growing household debt and geopolitical risks...
Jordan’s real GDP is forecast to grow at 3% in 2018 and 3.2% in 2019.
Jordan’s economy which has been straddled with mounting debt...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.