CNNMoney (11/11/15) Cristina Alesci
A coalition of 200 companies, including Pepsi and Southwest Airlines, celebrated Veterans Day with a commitment to hire one million servicemen and women. The group, which JPMorgan helped form with 10 other major companies in 2011, originally targeted 100,000 such veterans. Now called the Veteran Jobs Mission, the program has since put approximately 300,000 vets to work.
The companies’ efforts contributed to a “sharp decline in the unemployment rate for post-9/11 veterans, from just over 12% in 2011 to 5% as of September 2015,” the Veterans Jobs Mission reported in a statement. However, joblessness for veterans age 20 to 24 remains stubbornly high at 14.9%. African-American and Hispanic vets also continue to experience higher than average jobless rates.
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