April 22, 2008
In 2007, there were about 12 million veterans who had served during World War II, the Korean War, or the Vietnam era. Nearly all of these veterans were at least 55 years old, and one-half were at least 65 years old. About 97 percent of these veterans were men.
Male veterans of these wartime periods (World War II, the Korean War, and the Vietnam era) had lower labor force participation rates than male nonveterans in the same age categories. The unemployment rates of these veterans and nonveterans were about the same, however.
Overall, about 40 percent of male veterans of these earlier wartime periods were in the labor force in 2007, and their unemployment rate was 3.4 percent.