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July 19, 2006 (Washington, DC) Americans who served in the U.S. military are enjoying some of the highest employment rates of any segment of the American workforce. Unemployment for veterans during the second quarter of 2006 is down to 3.5 percent, even lower than the national average of 4.4 percent for non-veterans, according to new data reported by the U.S. Department of Labor. Nationally, overall unemployment for all Americans is now the lowest it has been since 2001. "Economic growth is up, employment is up, wages are up and unemployment numbers are way down. This is great news," said Sen. Larry Craig, Chairman of the U.S. Senate Committee on Veterans’ Affairs. In Craig’s home state of Idaho, overall unemployment is at 3.5 percent. In February Craig led a Senate Veterans’ Affairs Committee hearing which explored why there was a higher-than-average unemployment rate for young American veterans, especially those coming home from Iraq and Afghanistan. In 2005, the unemployment rate for young veterans, those ranging in age from 20 – 24 years old, was 15.6 percent, while unemployment rates for non-veterans of the same age group was 8.7 percent. Now employment rates for young veterans have improved. In the second quarter of 2006, the Department of Labor reports that the unemployment rate for veterans ages 20 – 24 has dropped to just over 11 percent, while the numbers for non-veterans in the same age range have dropped to 8 percent. "We have been working hard to reach out to both vets and employers, and we are delighted that these efforts are paying off," said Chick Ciccolella, Assistant Secretary for the Veterans' Employment and Training Service at the Department of Labor. Sen. Craig cautioned that we must continue these efforts as the nation strives to bring the numbers for young veterans in line with the rest of the population. #####
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