RSSVetJobs Early Eagle
Issue 11:3, Monday, March 1, 2010
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The VetJobs Early Eagle is for member employers, recruiters, friends and supporters of VetJobs. Feel free to forward this newsletter to friends and other employers.
This issue sponsored by TECHEXPO Top Secret
Contents:
1. Message from the Top
2. IAEWS Conducting Survey
3. Senate Inaction Jeopardizes Unemployment Benefits
4. Pensions May Face Unexpected Funding Demands
5. VFW Wants Changes in Jobs Bill
6. USS Arizona Memorial is now the World War II Valor in the Pacific National Monument
7. Study Links Handheld Devices to Poor Workplace Manners
8. National Guard and Reserve Mobilized as of February 23, 2010
9. Significant Events this Month in Military History
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1. Message from the Top
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 95th 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 85th birthday on March 4 and the U.S. Navy Seabees celebrate 68 years of “Can Do!” spirit on March 5.
On March 17 many will be celebrating St. Patrick’s Day. And be sure to remember to change your clocks forward an hour on March 14 for Daylight Savings Time. The first day of Spring is March 20.
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On the economic front I am not encouraged about what is happening and fear it will be quite some time before our economy is healthy again, especially with some of the economic policies that are being fostered in Washington. History has shown that what leads our economy out of every recession has been when small businesses start hiring. 80% plus of new jobs are created by small businesses and over 60% plus of the United States workforce works in a small business. But small businesses are not yet hiring. There are several reasons for this. Prime among the reasons is the political turmoil in Washington.
To put this recession in historical perspective, we are nowhere near the unemployment rate of the Great Depression which was 25% plus. The current unemployment rate has exceeded the 1975 recession of 9.0% but is less than the 1982 recession which was 10.8%. The lack of plentiful jobs and the changing skill sets makes it difficult for those who are unemployed. Many economists are predicting a slow, at best a marginal growth rate for 2010.
The unemployment rate surprisingly fell from 10% in December to 9.7% in January. Many people questioned how the national unemployment rate could fall when the country lost 20,000 jobs in January. The answer lies in the way the Department of Labor reset the numbers. To quote Secretary of Labor Hilda Solis in her report to Congress; “Accounting for revisions during the benchmark and post-benchmark periods, the previously published level of total nonfarm employment for December 2009 was revised downward by 1,363,000.“. And thus we conveniently moved from 10% unemployment to 9.7% unemployment while jobs were still being lost.
Calendar year 2008 saw a net loss of 3.6 million jobs, making it the worst year for U.S. employment since 1945. Calendar year 2009 saw a loss of 4.8 million jobs, shattering the 2008 painful record. That’s the most jobs lost in any recession, as a percent of total employment since World War II.
To quote the economic futurist Jeff Thregold; “The historic net loss of more than 4.0 million jobs since President Obama took office on January 20, 2009 reflects 1) the terrible nature of the economy he inherited, and 2) the disincentives that his proposed policies have had on the desirability of adding new jobs in the eyes of business owners.”
Thregold also points out the “underemployment” rate, which includes the number of people unemployed, those part-time workers who would prefer to work full time (which dropped by 9%), and those discouraged workers who have recently left the labor force, fell sharply to 16.5% in January, down from December’s 17.3% rate. While good news, the 16.5% level is still nearly double that of just three years ago
On the plus side, real consumer spending went up .3% in January and this recession still has companies who are hiring. During the last recession, we had a jobless recovery. That is not the case in this recession. This time, companies who had built up cash reserves and diversified their customer base are still hiring!
The manufacturing sector added 11,000 net new jobs in January, the first rise in over three years. Also likely to boost manufacturing employment in coming months was the rise of 52,000 temporary workers in January, the fifth consecutive monthly rise. Retailers added 42,000 jobs, the most since November 2007. Education and health services added 16,000 jobs. The federal government added 33,000 jobs. However, federal employment will be somewhat distorted in coming months as hundreds of thousands of temporary workers will be hired to conduct the 2010 census. So there are jobs out there, but the competition for those jobs is very tight.
Expect the unemployment rate to move back up in the coming months as thousands of people are likely to return to the labor force when they hear of more jobs available. Due to a growing population, economists say the U.S. economy needs to add roughly 150,000 jobs monthly just for the unemployment rate to remain unchanged. As the economy is not adding that volume of jobs, unemployment will rise.
For the above reasons and more, the American jobless rate is expected to stay painfully high for months and possibly years to come if the current administration does not change its policies quickly. The Administration and the Congress are belatedly focusing on job creation as national elections near. However, unless the government removes proposals for massive tax increases off the table, as well as exude a more business-friendly tone from Washington, too many potential job creators will simply remain on the sidelines.
The bottom line is the government needs to provide stability and implement proven policies so that small businesses begin hiring again. To date, the government is not doing what is necessary. Until it does, the United States is going to remain in a very stagnant economy.
As managers in the HR community, I would appreciate hearing your views about what is happening. You can forward them to me at info@vetjobs.com.
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As an example of the conflicting currents running through our economy, a Business Roundtable study conducted late last fall revealed that the War for Talent is still being fiercely contested. An astonishing 62% of the respondents said they were having “difficulty in finding qualified applicants to fill vacancies.” We hear this frequently at VetJobs. For many professions, our educational system is not keeping pace with the requirements of commerce.
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Finally, VetJobs is now on Facebook. We are also setting up pages on LinkedIn and Plaxo, so you can now follow VetJobs on the social networking sites. Come visit and be a friend of VetJobs!
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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. Feel free to share the Early Eagle with other employers!
And remember, Freedom Is Never Free – Support Our Armed Forces and Veterans!
Best regards,
Ted Daywalt
President
/—March Early Eagle sponsor is TECHEXPO Top Secret—-\
TECHEXPO Top Secret’s next job fair is:
3/9, TECHEXPO Top Secret, BWI Marriott, 1743 W. Nursery Road, Linthicum, MD, 10:00 AM to 3:00 PM
3/10, TECHEXPO Top Secret, Ritz-Carlton Tyson’s Corner, 1700 Tysons Boulevard, McLean, VA, 10:00 AM to 3:00 PM
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 Mach Early Eagle sponsor TECHEXPO Top Secret —-/
2. IAEWS Conducting Survey
VetJobs is assisting the International Association of Employment Web Sites (IAEWS) with a valuable survey. VetJobs is a Charter Member of IAEWS. The purpose of this survey is to compare the opinions of employers to those of employment Web site owners and operators to increase understanding among employers and vendors, identify emerging trends, and improve product/service delivery to employers. Your participation will be rewarded with a report of the aggregate findings should you opt to receive it. Please click on this link (or copy and paste to your browser). There are 16 multiple choice questions. http://www.zoomerang.com/Survey/WEB22A7JCUEA2C
Your participation is appreciated.
3. Senate Inaction Jeopardizes Unemployment Benefits
The Senate failed Friday to extend programs for laid-off workers, jeopardizing unemployment benefits scheduled to expire over this past weekend. The benefits are part of a larger package of government programs, from highway funding to loans for small businesses, set to expire February 28 because senators couldn’t agree on how to pay to keep them going. The House passed a bill Thursday extending the programs for one month while lawmakers consider how to address the issues long-term. Senate Democrats repeatedly tried to follow suit Thursday night and Friday morning, but they couldn’t overcome the objections of Republican Senator Jim Bunning of Kentucky, that the $10 billion bill would add to the budget deficit.
4. Pensions May Face Unexpected Funding Demands
SHRM reports that U.S. employers with defined benefit pension plans are expected to face unexpected and significant challenges in 2010, when required contributions could more than double—and funding levels could drop enough to trigger benefit payment restrictions put in place by the Pension Protection Act (PPA). “The temporary pension relief from Congress and some market recovery in 2009 have led many plan sponsors to expect a better funded status and lower required contributions than they will actually experience in 2010,” says Barry Young, consulting actuary at The Principal Financial Group, a provider of investment and retirement plan services. “The reality is, because interest rates have dropped, most plans will need higher contributions in 2010 and 2011. Retirement plan assets have not recovered enough to cover future liabilities. There are no guarantees of congressional relief in 2010,” Young noted, and he advised plan sponsors to contact their actuaries so they understand the funding requirements they could be facing. After a significant recovery throughout 2009, companies in the S&P 1500 again watched as a drop in equity markets reduced the funded status of their pension plans at the start of 2010. Mercer, an HR consultancy, estimates that among the 874 private-sector plans it studied, aggregate required cash contributions for 2010 will be 400% higher than for 2009.
5. VFW Wants Changes in Jobs Bill
The nation’s largest organization of combat veterans is demanding changes in the $15 billion jobs bill that passed the Senate on 24 February because veterans were left out of a package of tax credits and highway projects aimed at increasing employment. “Despite having more than 1.1 million unemployed veterans, the 60-page package failed to mention ‘veteran’ or ‘veterans’ even once,” said Justin Brown, a legislative associate with the Veterans of Foreign Wars. Brown was referring to HR 2847, the Hiring Incentive to Restore Employment Act, or HIRE Act, that passed the Senate by a 70-28 vote and is pending before the House. Speaking before the House Veterans’ Affairs Committee’s economic opportunity panel, which is considering legislation that would expand vocational training for veterans, Brown said the VFW “finds it unconscionable that American’s veterans, who have left their families, risked their lives and limbs and left civilian career pursuits behind to answer the nation’s call, do not have the attention of Congress for this important matter.” The unemployment rate for Iraq and Afghanistan combat veterans is almost 15.8%, higher than the average 10.6% overall unemployment rate, as well as the 11.8% rate for foreign-born U.S. citizens — a sore point among veterans groups such as the VFW.
There are things Congress could do as part of the jobs bill, Brown said. For example, an existing tax credit for employers is worth $2,400 for hiring a veteran and $4,800 for hiring a disabled veteran. That credit could be doubled and expanded to include more veterans, Brown said. The tax credit now applies only to veterans unemployed for four weeks or longer who were separated from the military after February 25, 2008. At a minimum, eligibility should be extended to anyone separated from the military since September 11, 2001, Brown said, and the number of weeks spent unemployed should not be considered. Brown also suggested an overhaul of the veterans rehabilitation and employment program to widen eligibility and to make it more accommodating by providing things such as child care services for veterans who are receiving training. Expanding grants and loans to veterans who own a small business or want to start one also could be included in the bill, he said. There is an opportunity to make changes in the HIRE Act when the House takes up the measure, but House passage is not a sure thing. There are objections to many of the provisions, such as which states would get the job-creating highway projects and proposed payroll tax relief for businesses that hire new workers over the next 10 years.
6. USS Arizona Memorial is now the World War II Valor in the Pacific National Monument
On February 19 thousands of visitors poured into the first phase of a new USS Arizona Memorial Visitor Center, designed to replace the old buildings that have sunk nearly three feet into the unsteady ground around Pearl Harbor. The new visitor center offers a new bookstore that’s nearly twice the size of the old one, an education and research center, a snack bar, administrative offices, addition of more and larger bathrooms, and a centralized ticketing operation so visitors can more easily attend the other World War II-era attractions around what’s commonly referred to as the USS Arizona Memorial: the USS Bowfin Museum, USS Missouri Memorial and Pacific Aviation Museum-Pearl Harbor. By congressional proclamation, the USS Arizona Memorial has been renamed the “World War II Valor in the Pacific National Monument.” Its land-based visitor center also will get a new name, but for now it’s being called the “USS Arizona Memorial Visitor Center replacement and expansion project.”
7. Study Links Handheld Devices to Poor Workplace Manners
SHRM reports that cell phones, smart phones, handheld devices, laptops and other mobile electronic gadgets are becoming ubiquitous in the workplace, giving employees unprecedented access and connectivity. But it appears that frequent use of the gadgets can decrease employees’ manners.
According to a recent U.S.-based study by Robert Half Technology, 51% of chief information officers report a rise in poor workplace etiquette linked to the increased usage of mobile electronic devices. The survey was based on telephone interviews with more than 1,400 CIOs from companies across the United States with 100 or more employees. Asked about the effects of mobile electronics, 29% said breaches in workplace etiquette during the past three years had increased somewhat; 22% said breaches had increased significantly. 42% said they detected no difference.
8. National Guard and Reserve Mobilized as of February 23, 2010
The total number currently on active duty from the Army National Guard and Army Reserve is 110,806; Navy Reserve, 6,574; Air National Guard and Air Force Reserve, 16,790; Marine Corps Reserve, 6,399; and the Coast Guard Reserve, 762. This brings the total National Guard and Reserve personnel who have been activated to 141,331, including both units and individual augmentees. A cumulative roster of all National Guard and Reserve personnel who are currently activated may be found at http://www.defense.gov/news/d20100223ngr1.pdf .
9. 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.
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.
1972 – North Vietnamese forces launched a massive attack south across the Demilitarized zone, during the Vietnam War.
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