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Almost everyone I know that went into the military did it for the experience and to be able to go to college. That was when people believed a college degree would set you up for a stable future. Now that millennials know this isn't true and we're not lying to gen Z, they sure as shit don't believe it either.
The military should add to its incentives. If the military could for example, build you a modest home then I'm sure people would start joining again.
I mean, in a roundabout sort of way, the military does do that. If you're active duty, you earn an okay salary (compared to other jobs whose entry requirement is a passing GED), but a significant portion of your paycheck is composed of nontaxable benefit payments. For example, BAH or Basic Allowance for Housing. As a junior NCO in a low cost of living state, I was getting nearly a thousand dollars a month specifically to offset housing costs. That afforded me the opportunity to rent a very nice apartment I would not have been able to afford on my salary alone. If I had chosen to rent a cheaper place, or cohabitate with someone, I would have been able to pocket the difference. I also received something like $400 ish for food in the form of the Basic Allowance for Subsistence stipend. Not to mention free healthcare through Tricare. Additionally, most veterans qualify for the VA Home Loan program, in which the government guarantees a portion of your mortgage, which can mean better rates from lenders vs a civilian.
So, while the military isn't necessarily out here building homes for folks (that being said, I've stayed in on base housing before, and most places certainly qualify as modest single family homes), they do provide tools that vets can use to make that a reality.
Does the incentives balance out against the cons of military service? For me, they did. For others, maybe not.
Thanks, yeah I think in service benefits are great but life after the military is always the pain point. The military sometimes has crazy signing bonuses and you get the GI bill as well, I think if the military appealed to people's life after service more then more people would sign up. Maybe do that in place of the GI bill. Homes are crazy right now because there aren't enough homes, not so much because they're expensive to build.
Unless you go with an MOS that you'd like to do after the military, a lot of the time the skills you learn don't really transfer to civilian life. Young adults don't usually know what they'd find rewarding and the recruiters can often trick you into some job you didn't want. I wouldn't recommend it to most people.