Car stickers commemorating U.S. military service in Vietnam, Afghanistan and Iraq are seen on a recruiter’s table at a veterans job fair in Los Angeles, California, November 10, 2010. REUTERS/Lucy Nicholson (UNITED STATES – Tags: EMPLOYMENT BUSINESS) – GM1E6BB0KP901
The unemployment rate for military veterans in October reached an all-time low of only 2.7 percent, the continuation of a long-term downward trend in the rate of unemployment among the members of the U.S. army.
Mirror October, with the general decline of the unemployment rate, the Bureau of Labor Statistics reported that the better tracks compensate for a decrease in September of that largely reflected the impact of Hurricanes Irma and Harvey in Florida and Texas.
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While the unemployment rate for veterans only fell 0.3 percent between September and October, the rate of 4.3 percent in October 2016 and by almost 10 percent in 2010.
For veterans of the wars in Iraq and Afghanistan – referred to as post-9/11 veterans, the unemployment rate was 3.6 percent, compared with 4.7 percent in October 2016, and 10.2 percent in 2009.
The White House used the fall of the unemployment rate — overall jobless rate ticked down to a 17-year low of 4.1 percent in October to tout President Trump’s plans to jump-start the economy.
“The numbers are phenomenal in the past year — since November 8, on election day,” Trump told business leaders in Tokyo on Monday. “Our unemployment is at a 17-year low. We already have nearly 2 million more people in the workforce in just that short period of time. I have reduced regulatory infuriating, to be honest, if I do say so myself.”
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Observers, however, note that the decline in unemployment is partly due to a lot of Americans give up looking for work — one of the points of criticism He made of President Obama’s record during the 2016 campaign. Many of the economic figures He cites are promoting a recovery of the Great Recession, which dates from the middle of 2009.
As for the stock market, the Dow Jones Industrial Average go back to the previous peak in March 2013 and has been setting records ever since. The promise of corporate tax cuts by Trump has contributed to the stock market, but many of the gains rest on the foundations of an economic recovery in which corporate profits climbed.
The Associated Press contributed to this report.