Frequent moves and unique demands are disrupting the careers of many military spouses and impacting the finances of dual-income families.
The First Command Financial Behaviors Index® recently explored several key career challenges military spouses face, including:
- Frequent Relocations: 79% of spouses report that frequent moves make it difficult to find and keep jobs.
- Underemployment: 58% say they work below their experience or education level due to their spouse’s career.
“These challenges extend beyond individual spouses, affecting families, the military community and the national workforce,” said First Command President/CEO Mark Steffe. “Employers often overlook military spouses due to work history gaps, missing out on valuable talent for their teams.”
Military spouses demonstrate a strong work ethic. The Index reveals that 94% of spouses in middle-class military families (commissioned officers and senior NCOs in pay grades E-5 and above with household incomes of at least $50,000) want to work to support their families.
Even so, military spouse employment status lags that of the nation’s roughly 4% unemployment rate. Middle-class military spouses report:
- 80% work full time
- 12% work part-time
- 8% are actively seeking work
The federal government reports a 21% unemployment rate among all military spouses, with one-third underemployed.
Spouses live with the challenges and opportunities of military service every day and would value a collaborative, multifaceted approach to their career concerns, said Janet Colón-López, a retired military spouse.
“Through years of supporting others on the home front, I’ve seen the potential for private-sector support,” she said. “When companies pledge to interview, hire, and retain military spouses, they not only create opportunities but also demonstrate support for our country’s service members and their families.”
Colon-Lopez speaks from deep experience. She is married to Ramón “CZ” Colón-López a member of the First Command Military Advisory Board. This select group of retired senior flag officers and senior enlisted leaders represent each branch of the nation’s military services. They advise company leadership on how to best serve the interests of career military families. Their spouses often participate in board meetings, offering company leadership their guidance and perspectives on the military lifestyle.
The work commitment seen in military spouses aligns with the money manager role they often play at home. The Index reveals:
- 80% take primary responsibility for budgeting and savings.
- 85% oversee long-term investments and retirement planning.
“Stable, rewarding employment for spouses benefits both families and employers, supporting strong financial planning today and for retirement,” Steffe said. “Employers, policymakers, and military advocates must prioritize this issue to support military families in pursuing lasting financial security.”
About the First Command Financial Behaviors Index®
Compiled by Sentient Decision Science, Inc., the First Command Financial Behaviors Index® assesses trends among the American public’s financial behaviors, attitudes and intentions through a monthly survey of approximately 530 U.S. consumers aged 25 to 70 with annual household incomes of at least $50,000. Results are reported quarterly. The margin of error is +/- 4.3 percent with a 95 percent level of confidence. http://www.firstcommand.com/fbi/
About Sentient Decision Science, Inc.
Sentient Decision Science was commissioned by First Command to compile the Financial Behaviors Index®. SDS is a behavioral science and consumer psychology consulting firm with special vertical expertise within the financial services industry. SDS specializes in advanced research methods and statistical analysis of behavioral and attitudinal data.
