August 5th, 2011
07:39 AM ET
(CNN) – President Obama is focusing his renewed job creation effort on unemployed veterans Friday, set to outline a new initiative that aims to help former members of the military find private sector jobs.
In a speech at the Washington Navy Yard scheduled for Friday morning, the president is expected to lay out a series of reforms that the Obama administration is pledging will both better prepare service members for the civilian workforce and encourage employers to hire recent veterans.
Among the president’s proposals Friday will be a “Returning Heroes and Wounded Warrior Tax Credit,” which would provide businesses that hire veterans a tax break, varying in size depending on how long the newly-hired veteran has been unemployed and whether he or she has a disability.
Obama will also unveil a new Department of Defense task force that, with help from the administration’s economic and policy teams, is charged with implementing new programs that ensure service members have the skills and training needed to transition to private sector jobs. The administration is dubbing this transition period a “reverse boot camp,” during which more access to career guidance and counseling will be made available.
Meanwhile, the labor department will unroll an “enhanced career development and job search service package” while The Office of Personnel Management will publish a manual for business managers outlining how they can locate veterans with skills and training that match open positions.
Finally, the president will directly challenge private sector businesses to hire or train 100,000 unemployed veterans or their spouses during the next two years.
Ahead of the announcement, the White House notes the unemployment rate among post-9/11 veterans stands at 13.3 percent – more than four percentage points hire than unemployment nationwide. The White House adds many of these unemployed veterans are former manufacturing, construction and mining workers – industries that were especially devastated by the recession.