Topic: U.S. Military
Clarksville, TN – Due to a lapse in appropriations, the government entered a partial shutdown. Some 800,000 federal workers were furloughed and about two million others continued to work but without getting paid. The economic impact of the shutdown will depend on how long it lasts.
A few days would not be a big deal, but a prolonged shutdown would result in a larger disruption of worker income (and corresponding restraint in consumer spending). In addition, the uncertainty may lead businesses to delay new hiring or capital expenditures. During the 1995-96 government shutdown, about 20% of private contracts with the government were affected.
Clarksville, TN – Next week, the markets will be interested in the ISM Manufacturing Index, but the focus should be on the September Employment Report. Seasonal adjustment is an issue in September.
We can expect to add more than 1.4 million education jobs (public and private) before adjustment, with hundreds of thousands of seasonal job losses in other areas. So it seems a little silly to worry about the nearest 20,000 or so in the adjusted payroll figure. The unemployment rate is expected to hold steady (at 7.3%) or edge a bit lower
Clarksville, TN – The Federal Open Market Committee did not reduce the pace of asset purchases. In its policy statement, the FOMC noted that the improvement in economy activity and labor market conditions since it began the asset purchase program a year ago was “consistent with growing underlying strength in the broader economy,” but “the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”
Clarksville, TN – With a thin economic calendar, Syria remained a key concern for the markets. However, prospects for a U.S. strike diminished, which helped bolster equity market sentiment. The bond market is looking ahead to the Fed policy meeting. In the bond market, expectations on tapering have solidified somewhat, with a moderate majority seeing a small initial reduction in the pace of asset purchases.
Retail sales for August disappointed (relative to expectations), but figures for June and July were revised a bit higher. Jobless claims were distorted due to upgrades in state computer systems, but the trend had been lower in August. Hiring intentions improved. Consumer sentiment softened.
Clarksville, TN – The economic data were mixed, but mostly on the strong side of expectations. The ISM’s two monthly surveys surprised to the upside. Motor vehicle sales advanced
However, the August Employment Report disappointed. Nonfarm payrolls rose by 169,000 (vs. a median forecast of +180,000 and expectations of an upside surprise). Figures for June and July were revised a net 74,000 lower (July went from +162,000 to +104,000).
Manufacturing rose by 6,000. Construction was flat. Retail added 44,000. The unemployment rate fell to 7.3%, but that was due to lower labor force participation (the lowest since May 1978).
Clarksville, TN – The economic data were consistent with a slowing in the rate of overall growth in July.
The estimate of second quarter growth was revised higher (to a 2.5% annual rate, vs. +1.7% in the advance estimate), but that was almost entirely due to a smaller-than-expected trade deficit (the estimate of consumer spending growth was the same and the estimate of business fixed investment was only slightly different).
Personal income and spending figures showed a poor start for the consumer in 3Q13. Durable goods orders tanked in July, reflecting a drop in aircraft orders (which were strong in May and June). However, ex-transportation orders still disappointed.
Written by Jim Garamone
Washington, D.C. – The crime of sexual assault undermines the trust needed for the U.S. military to do its missions, President Barack Obama said after meeting with his military leaders today.
Defense Secretary Chuck Hagel and the service secretaries, and Army Gen. Martin E. Dempsey and the rest of the Joint Chiefs of Staff met with the president at the White House to discuss ways to eliminate sexual assault from the military.
Fort Campbell, KY – The mobile lifestyle of the United States military presents never-ending challenges for Soldiers and their Family members.
In support of the transitional nature of the Army lifestyle, Army Community Service (ACS) and the Department of Emergency Services (DES) have partnered to establish the “Fort Campbell Vehicle Registration and Information Center “, located in building 94C, Michigan Avenue, adjacent to the Exchange military clothing and sales store. «Read the rest of this article»
Clarksville, TN – George Nishimura joined the United States Army at a time when America was at war. This teenager did what thousands of Japanese-American men did at the time, to show their patriotism to the country that had been their home all of their lives.
George was at home when he heard all of the noise and commotion going on in the neighborhood. He soon learned that guys coming home from Honolulu saw planes, Japanese planes, bombing Pearl Harbor. When he turned on the radio he heard the announcer shouting, “Pearl Harbor is under attack! This is not a drill!” «Read the rest of this article»
Veterans Day Designated a Free State Park Day for Tennessee Veterans, Including Complimentary Golfing and Night of Camping
Nashville, TN – Tennessee State Parks announced today its annual free state parks day for all Tennessee veterans on Monday, November 12th, offering one free night of camping and complimentary greens fees for 18 holes of golf with appropriate identification.
Passed by the Tennessee General Assembly in 2010, the policy calls for a yearly, special state parks day to honor Tennessee’s resident veterans.
“This is our way of honoring the many brave men and women who have served our country,” said Environment and Conservation Commissioner Bob Martineau. “The state parks family extends a warm invitation to all of Tennessee’s veterans to visit us on November 12th and enjoy a day in one of our beautiful parks.” «Read the rest of this article»
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