The unemployment rate fell last year for young veterans, the first significant drop since the war in Iraq began.

Joblessness among veterans ages 20-24 fell to 10.4 percent last year after reaching a record high of nearly 16 percent in 2005. A University of Chicago study suggests that the high unemployment rate during the war may have occurred because young veterans take their time in looking for the right job. The study suggests that young veterans sometimes take up to nine months, in some cases, to search for work.

"The study does suggest that young veterans take some time," said ASVET Charles "Chick" Ciccolella. "It may also suggest that they use their unemployment compensation while looking for the right job." Additionally, he said that overall economic growth and the fact that more troops are attending job-training courses before leaving the military, may have also contributed to that unemployment drop.

"It is encouraging to see this significant drop in the unemployment rate of young veterans," said Secretary of Labor Elaine Chao. "Helping America's servicemen and women successfully transition to civilian jobs when they leave the Armed Forces is a top priority of this department and these latest numbers show that progress is being made."

The National Opinion Research Center at the University of Chicago is tracking 173 unemployed veterans ages 20-24. Further study is underway to learn if the unemployment rate is falling mostly among deactivated National Guard and Reserve troops trying to re-enter the workforce.