WASHINGTON, D.C. – Ahead of Veterans Day, Joint Economic Committee Democrats released a fact sheet today on the economic state of the veterans community in the United States. Even with the struggles some veterans face transitioning to civilian life, the economic state of the veteran community is on an upward trend. Overall, the nation’s 20.5 million veterans earn more, experience lower unemployment, are more likely to have health insurance, and less likely to live in poverty than their non-veteran peers.
“On Veterans Day, we reflect on the sacrifice our men and women in uniform have made to protect the United States at home and abroad,” said Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee. “One of my most important responsibilities as a Senator is to keep America's promise to our veterans. We must be unwavering in our commitment to our men and women in uniform who deserve more than just words of gratitude for their sacrifice when they return home. We owe our veterans the quality care and benefits that they have earned.”
Key findings of the fact sheet include:
- Veterans own 2.5 million businesses which generate sales exceeding $1.1 trillion and employ more than 5 million people.
- Veteran women-owned business increased 300 percent from 2007-2012 and generated almost $18 billion in sales in 2012.
- Combining incorporated and unincorporated self-employment, veterans have rates of self-employment that are consistently at least 20 percent higher than those for non-veterans.
- More than 28 percent of post-9/11 veterans work in the public sector: 15.7 percent are employed by the federal government, compared to 2.0 percent of non-veterans.
The fact sheet also includes the 2016 annual unemployment rates for veterans and post-9/11 veterans in each state.
Click here to view the fact sheet online.
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For more information, please contact Latoya Veal at Latoya_Veal@jec.senate.gov or 202-224-0379.
