Yes. LOA would not matter. You can be furloughed per the contract or company policy (as long as it is applied same to all employees).

The applicable federal statute is the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA). The Act itself can be found in the United States Code at Chapter 43, Part III, Title 38.

In total, the escalator clauses allow an employee to be treated as if they never left. That means you move up in seniority, maintain the pay rate upon return as if you never left, all benefits dispensed upon return at the same rate as if you never had left for military duty.

The flip side of the escalator clause: You can be furloughed while on military duty just like your fellow employees. Your benefits would accrue as any other furloughed employee.

The Department of Labor has issued regulations that clarify its position on the rights of returning service members USERRA. See 20 CFR Part 1002.210
and similiar paragraphs.
This is just a very rough response, but gives you an idea.