US Veterans Earn $7,000 Less, More Likely to be Out of Workforce

American veterans earn less, are more likely to be out of the labor force and attain lower education levels than comparable nonveterans, according to a pair of studies by the Federal Reserve Bank of New York.

Based on data from the 2019 American Community Survey, veterans earned $51,900 a year — about $7,000 less than comparable nonveterans. The primary reasons are higher levels of disability and lower educational attainment among former service members.

However, after accounting for the differences in education and disabilities, the earnings gap shrinks to less than $2,000 a year, the Fed researchers found.

The twin ...