American Soldiers and Flag of USA on soldiers arm. US Army. Veteran Day
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Unemployment is a serious problem for veterans—and their spouses. According to the Bureau of Labor Statistics, more than 274,000 military veterans are unemployed in America, and for women vets, the number’s even higher. A whopping 5.7% of women veterans are currently unemployed—a jump from just 3% a year earlier.
Military spouses face even higher rates of joblessness, with 9.4% unemployed, according to the most recent numbers.
Fortunately, help is on the way thanks to a new initiative announced by online mortgage lender Better.com this morning. Better has partnered with military hiring agency Shift.org to bring 80 veterans into its ranks over the next few months. By 2025, the lender plans to add another 5,000 vets and military spouses to its payroll.
Vishal Garg, Better.com’s founder and CEO, hopes the move will encourage other employers to follow suit.
“Employers tend to focus more on the college degree over the valuable life experience a veteran brings,” Garg says. “My hope is that this initiative serves as a catalyst to open doors for these unsung heroes who have selflessly served our country. If given a chance, their employers will reap the real benefits of the qualities and skills they’ve gained during service.”
According to Mike Slagh, CEO and founder of Shift.org, the military community will certainly benefit from the initiative—but so will Garg’s team. In fact, Slash expects it to “have a transformative effect” on Better.com’s culture.
“Veterans earn incredible skills and experience during their service, but in the past, it’s been a struggle to translate those into the skills that today’s employers need,” Slagh says. “But the truth is that military experience is a perfect fit for modern companies—being able to solve problems with limited resources, adapt to change, and keep calm under pressure.”
The positions will be spread across all four of Better’s current locations—New York City; Charlotte, North Carolina; and Costa Mesa and Oakland, California. There will also be openings at the lender’s up-and-coming offices in Kansas City, Las Vegas and Honolulu, which are scheduled to open early next year.
Interested veterans can learn more at Better.com/Vets.