Issue 13:03, Thursday, March 1, 2011
www.vetjobs.com
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This issue sponsored by TECHEXPO Top Secret and CRI University
Contents:
1. Message from the Top – 2012 Market Projections
2. VA Home Loans – A Story of Success
3. Defense Budget Calls for Military Families and Retirees to Pay More
4. EEOC Issues Revised Publications on Employment of Veterans with Disabilities
5. National Guard (in Federal Status) and Reserve Activated as of January XX, 2012
6. Significant Events this Month in Military History
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1. Message from the Top
Over the last few months I have heard from many of your clients about the shortage of qualified candidates, particularly when it comes to the skilled trades. This includes machinists, toolmakers, plumbers, welders, electricians and technicians. As the manufacturing industry starts to make a comeback, the skilled labor shortage in the United States has become a national crisis. For example, three years ago a welder would have been happy to make $23 an hour. Today, a skilled welder can make $45 an hour in Texas and the upper mid-western states like Minnesota and the Dakota’s.
With over 14 million unemployed, America is fast becoming a country seriously out of balance when it comes to the demand for labor and the availability of qualified labor that have the skills that are needed. We have way too many people who thought they needed to go to college when they should have gone to a trade or technical school. But our secondary schools looked down on technical and trade schools and as a result we have critical shortages of skilled workers. We also have way too many who have found that unemployment pays enough to where they can live on the public dole rather than be a productive citizen.
If you talk to a CEO and ask them what is the most important ingredient in the success of their company they will almost always tell you it is their labor force. The talent and commitment of a company’s workforce frequently mean the difference between success and failure, especially in times of economic turmoil which we still face in the United States.
The country just missed a great opportunity to create thousands of new jobs with the Keystone XL Pipeline. This issue is still to be resolved and many in congress want the Keystone XL Pipeline to be approved. If it is approved, that would be tens of thousands of new permanent jobs for veterans. VetJobs will continue to pursue this issue as it means more jobs for veterans.
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On the economic front, the indicators are still mixed but slightly positive. Fourth quarter performance of the U.S. economy was revised slightly higher which is a good thing. The American economy grew at a 3.0% real (after inflation) annual rate during the October-December 2011 quarter, up slightly from the 2.8% rate initially reported. Ironically, 3.0% was the consensus forecast when the data first came out in late January
The 3.0% growth pace during 2011’s final quarter was the best of the year, following real annual growth rates of 0.4%, 1.3%, and 1.8% in the three prior quarters of 2011. The 3.0% fourth quarter 2011 growth pace was also the best since 2010’s second quarter. Still, the economy’s real growth place of 1.7% during 2011 badly trailed the 3.0% real growth pace of 2010.
The U.S. economy has averaged a 2.4% real annual growth pace since the current economic expansion officially began in July 2009. Such growth ranks as the weakest economic rebound from recession since the 1940s. Not a stellar record. And it leaves the country flat with unemployment remaining well above 8.0%. Some analysts and reporters think DOL’s 8.3% CES unemployment rate is low, that it should be more like 10% to 11%. If you are one of the unemployed, it doesn’t matter what the unemployment rate is as you are in an economic depression. Let’s hope our politicians and the administration will start thinking in terms of creating a business friendly environment, which has been missing for the last three years and put America back on track to a free market economy!
As Jeff Thredgold’s Tea Leaf report (http://www.thredgold.com/tea-leaf/) points out, the “headwinds” of
1) weak housing markets across the country, with home values down roughly 35% since their 2006 peak;
2) still high unemployment (by two measures much higher than the currently reported official 8.3% rate); and
3) enormous anxiety about the size, growth, and direction of the U.S. government (think $1,300,000,000,000 annual budget deficits for four years now) have lessened corporate interest in expansion and new hiring, as well as pooh-poohed consumer interest in more aggressive spending. Yes, the economy added more than 400,000 net new jobs during the past two months…only 5.5 million more net new jobs to go and we will be back to “square one” of 2007. As Jeff points out, we have a long way to go before things will turn around.
Here are some of the major economic indicators.
On the negative side:
-The S&P/Case-Shiller composite index of 20 metropolitan areas shows home prices dropped 1.1% on a non-seasonally adjusted basis in December from November. Economists forecast a smaller 0.9% decline.
-The Commerce Department reports orders for long-lasting goods dropped 4.0% last month, the biggest decline since January 2009. Economists were expecting a drop of 1%
-The Producer Price Index climbed 0.1% in January from December, a smaller rise than the 0.4% economists expected. Excluding the food and energy components, prices rose 0.4%, quicker than the 0.2% forecast.
-U.S. retail sales rose 0.4% in January, less than the 0.7% expected. Excluding the auto segment, sales were up 0.7%. December retail sales were revised from 0.1% to unchanged
-According to the Institute for Supply Management (ISM), business at US manufacturers expanded at a slower pace in February ISM said its manufacturing index declined to 52.4% last month from 54.1% in January. Economists had expected a reading of 55% for February based on improving regional results and employment data. Readings over 50% indicate that manufacturers are expanding
-Construction spending fell 0.1% in January from December, a weaker reading than the 1% gain economists were expecting
On the plus side:
-Home real estate markets and banking conditions are improving across most of the nation, according to the Federal Reserve’s latest Beige Book reading of economic conditions released Wednesday
-The National Association of Realtors reports contracts for pending sales of previously-owned homes jumped 2% in January, the highest level since April 2010
-The Conference Board said its index of consumer attitudes increased to 70.8 in February from a revised 61.5 the month prior, zipping past estimates of a reading of 63. The reading was the highest since February 2011
-New claims for unemployment benefits remained at 351,000 last week. Economists had expected them to rise to 354,000. The four-week moving average, which helps smooth volatility in the weekly reports, hit its lowest level since March 2008
-Existing home sales rose 4.3% in January to an annual rate of 4.57 million units, the highest rate since May 2010. Economists had been expecting a 1.9% increase to an annual rate of 4.65 million units. However, sales in December were revised significantly lower to a rate of 4.38 million units from 4.61 million
-Housing starts rose 1.5% in January to a 699,000-unit rate, topping estimates of a 675,000-unit rate. Permits to build new homes rose 0.7% to a 676,000-unit rate, slightly less than the 680,000-unit rate expected
-The Commerce Department reports personal income rose 0.3% in January on a month-over-month basis, while spending increased 0.2%, just below analysts’ expectations
-The Labor Department reports initial filings for state unemployment benefits ticked lower to 351,000 last week from 353,000
Overall the good news is the economy is starting to grow anemically, but not nearly fast enough or strong enough to get us out of our current economic malaise.
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In March we wish a Happy Birthday to the United States Military Academy (USMA). It was in March of 1802 that the United States Congress established the United States Military Academy at West Point, NY. USMA has graduated many outstanding leaders who have been instrumental in the leadership not only of the Army, but the country as well. If you meet a West Point graduate this month, say “Happy Birthday”!
On March 2, 1915, the United States Congress established the United States Naval Reserve by combining 17 state naval militias into a single federal force. This year is the 97th birthday of the United States Naval Reserve. So if you meet a Naval Reservist this month, tell them “Happy Birthday” as well. The U.S. Navy Band celebrates its 86th birthday on March 4.
On March 5, 1942, Admiral Ben Moreell was granted the authority to establish a naval construction force and officially call its personnel Seabees. This month we celebrate 70 years of “Can Do!” spirit for the Seabees!
On March 17 many will be celebrating St. Patrick’s Day.
Be sure to remember to change your clocks forward an hour on March 11 for Daylight Savings Time.
The first day of spring is March 20.
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Finally, VetJobs is working with the National Guard Association of the United States (NGAUS) and National Guard and Reserve units in Kuwait to set up a Kuwait NG&R Career Fair for the first week of April. It appears a grant will be forthcoming that will pay for about 25 recruiters to be flown over to Kuwait. Once there, the units will provide invitational orders which will cover local travel and lodging. All participants will need to cover their cost to get to Dulles International Airport, Washington, DC which will be the debarkation point.
If you would like to have one of your clients represented at the Kuwait NG&R Career Fair, please respond to me ASAP at info@vetjobs.com as space is limited. If your client already has recruiters in Kuwait or surrounding countries, we would appreciate their participation. I look forward to hearing from you!
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As always, if there is anything we at VetJobs can do for you, please do not hesitate to call or email.
Remember, Freedom Is Never Free – Support Our Armed Forces and Veterans
Best regards,
Ted Daywalt
President
/—February Agency Eagle sponsor is TECHEXPO Top Secret—-\
TECHEXPO Top Secret’s next job fairs are:
3/6, TECHEXPO Top Secret Career Fair, Tysons Corner Ritz Carlton, 1700 Tysons Blvd. McLean, VA, 10:00 AM to 3:00 PM, pre-register at www.techexpousa.com
3/7, TECHEXPO Top Secret Career Fair, BWI Marriott, 1743 West Nursery Road, Linthicum Heights, MD, 10:00 AM to 3:00 PM, pre-register at www.techexpousa.com
3/20, TECHEXPO Top Secret, Sheraton Columbia Town Center, 10207 Wincopin Circle, Columbia, MD, 10:00 AM to 3:00 PM, www.techexpousa.com
TECHEXPO Top Secret job fairs bring you face to face with security-cleared professionals. For 2010 event schedule, contact Nancy Mathew 212-655-4505 x225 or NMathew@TechExpoUSA.com. http://www.TechExpoUSA.com
\—–Please visit your Agency Eagle sponsor TECHEXPO Top Secret —-/
2. VA Home Loans – A Story of Success
Home loans guaranteed by the Department of Veterans Affairs continue to have the lowest serious delinquency and foreclosure rates in the mortgage industry. Veterans have also taken advantage of their home loan benefit in record numbers, as VA loan originations reached their highest total in eight years. Last year, VA helped 72,391 Veterans and Servicemembers who were in default on their mortgage loan retain their homes or avoid foreclosure, an increase from 66,030 from the prior year. At the same time, foreclosures on VA guaranteed loans dropped by 28%. According to the Mortgage Bankers Association National Delinquency Survey, VA’s foreclosure rate for the last 14 quarters and serious delinquency rate for the last 11 quarters have been the lowest of all measured loan types, even prime loans. Since 1944, when home loan guaranties were first offered under the original GI Bill, VA has guaranteed more than 19.4 million home loans worth over $1.1 trillion. More information is available at www.benefits.va.gov/homeloans.
/—February Agency Eagle sponsor is CRI University—\
CRI University provides informative and dynamic one-hour webinars and recorded educational sessions on important HR topics that impact every employer who employs fifteen or more people. CRI University topics are offered both live and as recorded sessions for registrants who choose to view the materials and listen to the recording at their leisure.
These webinars and educational sessions are as important to CEOs, COOs, and CFOs as they are for HR personnel due to the myriad of changes in employment laws, regulations, discrimination findings and court case findings in 2009 and thus far in 2011.
March webinars are:
EEOC and OFCCP Compliance
Thursday, March 08, 2012, 11:00 AM Central Time
Understanding the Achiever in the Selection and Development Process.
Friday, March 09, 2012, 11:00 AM Central Time
Each webinar is $65 and the website to register for a webinar is www.criuniversity.com
\—–Please visit your Agency Eagle sponsor CRI University at www.criuniversity.com ——/
3. Defense Budget Calls for Military Families and Retirees to Pay More
The Obama administration’s proposed defense budget calls for military families and retirees to pay sharply more for their healthcare, while leaving unionized civilian defense workers’ benefits untouched. The proposal is causing a major rift within the Pentagon, according to U.S. officials. Several congressional aides suggested the move is designed to increase the enrollment in Obamacare’s state-run insurance exchanges. The disparity in treatment between civilian and uniformed personnel is causing a backlash within the military that could undermine recruitment and retention. The proposed increases in health care payments by service members, which must be approved by Congress, are part of the Pentagon’s $487 billion cut in spending. It seeks to save $1.8 billion from the Tricare medical system in the fiscal 2013 budget, and $12.9 billion by 2017. Many in Congress are opposing the proposed changes, which would require the passage of new legislation before being put in place.
Administration officials told Congress that one goal of the increased fees is to force military retirees to reduce their involvement in Tricare and eventually opt out of the program in favor of alternatives established by the 2010 Patient Protection and Affordable Care Act, aka Obamacare. Military personnel from several of the armed services voiced their opposition to a means-tested tier system for Tricare. Under the new plan, the Pentagon would get the bulk of its savings by targeting under-65 and Medicare-eligible military retirees through a tiered increase in annual Tricare premiums that will be based on yearly retirement pay. The plan calls for increases from 30% to 78% in Tricare annual premiums for the first year. After that, the plan will impose five-year increases ranging from 94% to 345%, more than 3 times current levels. The new plan hits active duty personnel by increasing co-payments for pharmaceuticals and eliminating incentives for using generic drugs. The changes are worrying some in the Pentagon who fear it will severely impact efforts to recruit and maintain a high-quality all-volunteer military force. Such benefits have been a key tool for recruiting qualified people and keeping them in uniform. The massive increases beginning next year appear timed to avoid upsetting military voters in a presidential election year, critics of the plan say. Current law limits Tricare fee increases to cost of living increases in retirement pay.
4. EEOC Issues Revised Publications on Employment of Veterans with Disabilities
The U.S. Equal Employment Opportunity Commission (EEOC) has released two updated publications about Veterans with disabilities and the Americans with Disabilities Act (ADA), Veterans and the Americans with Disabilities Act (ADA): A Guide for Employers and Understanding Your Employment Rights Under the Americans with Disabilities Act (ADA): A Guide for Veterans. The guides explain changes to the law due to the ADA Amendments Act of 2008, which make it easier for Veterans and others with many different kinds of disabilities to get reasonable accommodations that can help them succeed at work. For more information visit http://www.eeoc.gov/eeoc/publications/ada_veterans_employers.cfm and http://www.eeoc.gov/eeoc/publications/ada_veterans.cfm
5. National Guard (in Federal Status) and Reserve Activated as of February 29, 2012
The total number currently on active duty from the Army National Guard and Army Reserve is 53,373; Navy Reserve, 4,703; Air National Guard and Air Force Reserve, 9,523; Marine Corps Reserve, 4,994, and the Coast Guard Reserve, 698. This brings the total National Guard and Reserve personnel who have been activated to 73,291, including both units and individual augmentees. A cumulative roster of all National Guard and Reserve personnel who are currently activated may be found on line at http://www.defense.gov/news/d20120228ngr.pdf .
6. Significant Events this Month in Military History
1802 – Congress established the U.S. Military Academy at West Point, N.Y.
1815 – Congress declared war against the Barbary Pirates in Algeria, seeking an end to their interference with American shipping in the Mediterranean Sea.
1836 – End of 13 day siege of the Alamo, San Antonio TX, where 183 Americans held off 3,000 Mexican troops before being overwhelmed.
1846 – American forces under General Zachary Taylor moved across the Rio Grande River into Mexican territory, officially beginning hostilities during the Mexican War.
1862 – Confederate ironclad CSS Virginia destroyed Union vessels USS Cumberland and USS Congress, and damaged the USS Minnesota in waters off Hampton Roads and Fort Monroe, VA.
1915 – Congress established the U. S. Naval Reserve.
1918 – Second Battle of the Somme in France began with a German offensive.
1931 – President Hoover signs legislation making the Star Spangled Banner the official national anthem of the United States.
1941 – General Erwin Rommel began his first offensive against the British Army in Libya.
1942 – The first American “Seabees” saw action in New Caledonia, an island in the southwest Pacific, as they landed and began construction of base facilities.
1949 – U.S. Air Force Captain James Gallagher completed the first non-stop flight around the world, refueling several times in mid-flight.
1965 – First US ground combat force, the 3,500 man 9th Marine Expeditionary Brigade, arrived at Danang, South Vietnam for the start of the Vietnam War.
1972 – North Vietnamese forces launched a massive attack south across the Demilitarized zone, during the Vietnam War.
1995 – Somalia Campaign ended.
2003 – Operation Iraqi Freedom began.
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VetJobs is exclusively sponsored and partially owned by the Veterans of Foreign Wars of the United States (www.vfw.org) and endorsed by the Vietnam Veterans of America (www.vva.org), the Naval Reserve Association (www.navy-reserve.org), the Veterans of Modern Warfare (www.vmwusa.org), the Student Veterans of America (www.studentveterans.org), the Military Order of the Purple Heart (www.purpleheart.org), Hope4Heroes (www.hope4heroes.org) and The Retired Enlisted Association (www.trea.org).
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