On all levels I think our system has seen some major changes: Until about the time of Vietnam being a veteran was a very distinguished status. Then, Vietnam vets really took a hit and so did veterans from many backgrounds for several years. I believe it has finally come back around to being something that is a very honorable and recognized status.
Thankfully, as Lawrence pointed out, many of their military experiences and training are also being broadly recognized in the private sector now. But you do have to watch what skills and education you go with in the service. You may greatly limit your opportunities. And, sometimes you don't have much of a choice. You go where they want/need you.
Another advantage for all, high school grads, college grads, military personnel, is the internet and the ability to search for jobs as well as the education and skills required for those jobs so you can prep yourself and build a marketable resume. Get used to a computer and working the internet, it can be one of your best friends if used correctly and not abused with games and other nonsense time wasters. Networking on forums like this one, online classes, job searches, etc.
Just my two tin pennies worth. But with some military background and, if I read Len's post correctly, an engineering degree there should be many opportunities awaiting. But you will have to work hard to get the job in the first place. Then, work hard to try and keep it.
Have a Great Day, Brent