Unemployment for young vets surpasses 20% - Marine Corps News | News from Afghanistan & Iraq - Marine Corps Times

Unemployment for young vets surpasses 20%

With the unemployment rate for Iraq and Afghanistan veterans now exceeding 20 percent, a key Republican wants the Obama administration to use economic stimulus funding to create jobs for veterans.

The 20.8 percent unemployment rate for November for veterans ages 18 to 24 is an increase from the 17.3 percent rate for veterans in that age group reported for September, indicating a deteriorating jobs picture for entry-level positions.

The new numbers from the Bureau of Labor Statistics reveal there are more than 1 million unemployed veterans. “That is unacceptable,” said Rep. Steve Buyer of Indiana, ranking Republican on the House Veterans’ Affairs Committee, who has been pushing since December — without much success — to have stimulus funds used for veterans programs.

Buyer has introduced a bill, HR 4220, that tries on a number of fronts to help veterans find jobs.

It would:

• Create a $500 monthly stipend for veterans who become teachers in rural school districts.

• Reauthorize a now-expired program that provides loans of up to $500,000 veteran-owned small businesses.

• Allow veteran-owned small businesses to get sole source contracts from the VA, similar to contracts for minority-owned businesses.

• Provide living stipends, similar to the zip code-based living stipends under the Post-9/11 GI Bill for college students, to veterans enrolled in vocational training.

Buyer’s bill is one of many job-creation ideas pending in Congress that may not get a serious look until early next year, when lawmakers are expected to tackle the job side of the national economic situation. The Obama administration has already said that effort could involve using some stimulus funding for job creation.