(NewsNation) — The unemployment rate for veterans went down in October, even though the overall national jobless rate increased slightly, according to data from the Bureau of Labor Statistics. 

The unemployment rate for veterans was estimated at 2.7% in October, which is an improvement from the previous two months when it was above 3.5%. In August and September, the rate had crossed 3% for the first time in 2023. 

In October, the nation’s employers added 150,000 jobs, indicating a slight slowdown in hiring. This suggests the labor market is still strong, despite high interest rates, which have increased borrowing costs for companies and consumers. 

Younger veterans who served after 9/11 saw an even more significant improvement. Their jobless rate decreased from 5.1% in September to 4% in October, meaning around 45,000 more young veterans found jobs in October compared to September. 

Across the country, about 230,000 veterans were looking for work but couldn’t find steady employment last month, which is a few thousand more than the previous year. However, experts caution these estimates can fluctuate from month to month due to surveying complications, according to Air Force Times. 

In recent years, the unemployment rate for veterans has typically been higher than that of the general population. In April, it reached 2.1%, the lowest since 2000 when the data tracking began. The higher rates in August and September raised concerns among veterans’ advocates.