Employment rates among spouses of military service members is an ongoing and often overlooked issue, with the National Military Spouse Network reporting an unemployment rate of 21% as of January 2024. What many may not realize, however, is that the consequences extend far beyond the military households themselves.
Elizabeth O’Brien, Vice President of the US Chamber Foundation’s Hiring Our Heroes program, dissects the many causes and effects of the issue on a new episode of Yahoo Finance’s Warrior Money podcast, co-hosted by Patrick Murphy and Dan Kunze.
As Kunze notes during their conversation, it’s often said that it takes two years for an individual to feel at home in a new place. When a military spouse is forced to move every few years, that process can become an unending cycle.
“The sooner we can build networks and social capital for military families as they move to new communities, the better,” O’Brien says.
“We have the same challenges that so many of our American families have: access to safe, affordable childcare; re-entry to the workforce. Our challenges aren’t unique only to us,” she explains. “But there are solutions that we can create for our military families that then benefit America writ large.”
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One’s ability to serve in the military is often dependent upon the financial stability of their household. When military spouses cannot find employment, the armed forces themselves may see a lower turnout. Thus, the economic well-being of military spouses can have a ripple effect on the rest of the country, such as “keeping our infrastructure sound, keeping us competitive on the global economy, and impacts to national security,” O’Brien explains.
“If I didn’t have the opportunity to go to work, [my husband] wouldn’t be a colonel in the Army right now,” she adds.
O’Brien discusses what solutions are available to military spouses and what more needs to be done in her full conversation with Murphy and Kunze.
Hosted by former Congressman Patrick Murphy and veteran investor Dan Kunze, Yahoo Finance’s Warrior Money is a weekly vodcast dedicated to uplifting military veterans transitioning into civilian life. Through insights from fellow veterans and high-ranking government officials, Murphy and Kunze are helping set vets up for success through financial education and inspiration.
This post was written by Nick Riccardo.