US Veteran Population Declining While Post-9/11 Veterans Face Higher Mental Health Challenges

Recent analyses highlight that the U.S. veteran population is shrinking and aging, with younger post-9/11 veterans being more diverse and facing higher mental health challenges such as psychological distress and substance use disorders. Despite these challenges, veterans generally have favorable labor market outcomes, including lower unemployment rates and higher household incomes compared to nonveterans. Various initiatives are supporting veterans' financial stability, including a free retirement planning workshop aimed at empowering veterans with strategies for building generational wealth, and nonprofits like Support the Enlisted Project (STEP) that provide immediate financial assistance and long-term counseling to military families facing economic hardship. November is recognized as National Veterans and Military Families Month, honoring the sacrifices of service members and highlighting that veterans comprise a significant portion of the federal workforce, benefiting from veterans’ preference in federal hiring. These findings and programs collectively inform policies and services to better address the evolving needs of veterans and their families as they transition to civilian life and financial independence.