JOBS

Happy Labor Day, I hope you enjoyed your time with family and friends. Labor Day is a celebration related to jobs something that is in the news constantly. The first section is from Vanguard. The middle section is on the job related metrics used by economists. Lastly is the rest of the information on the Tomb of the Unknown Soldier.

Vanguard

The long Labor Day weekend got off to a shaky start on Friday because of a weaker-than-expected report from the Labor Department, which indicated that the U.S. economy produced no net job growth in August. In other news, minutes from the Federal Open Market Committee's August meeting revealed that members were split over how best to help the economy. Meanwhile, consumer confidence hit its lowest point in more than two years last month. On a brighter note, consumer spending and factory orders both increased in July. For the week ended September 2, the S&P 500 Index fell 0.2% to 1,174 (for a year-to-date total return—including price change plus dividends—of about -5.4%). The yield of the 10-year U.S. Treasury note fell 17 basis points to 2.02% (for a year-to-date decrease of 128 basis points).

Job Statistics

The news on Friday was about 2 job statistic, the nonfarm payroll employment number and the unemployment rate. The data showed no change in nonfarm employment and no change in the unemployment rate. Three job metrics are typically given each month and I have given all 3 below. The bottom line of all these 3 metrics is that the economy is still in the recovery phase and job creation is going slowly as the Federal, State and Local governments are adjusting their workforce.

Nonfarm Payroll and Unemployment Rate

Nonfarm payroll employment was unchanged (0) in August, and the unemployment
rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment in most major industries changed little over the month. Health
care continued to add jobs, and a decline in information employment reflected
a strike. Government employment continued to trend down, despite the return
of workers from a partial government shutdown in Minnesota.

The ADP National Employment Report August 2011 Report

Private-sector employment increased by 91,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated advance in employment from June to July was revised down modestly to 109,000, from the initially reported 114,000. According to today’s ADP National Employment Report, employment in the nonfarm private business sector rose 91,000 from July to August on a seasonally adjusted basis. Employment in the private, service-providing sector rose 80,000 in August, down from increases that averaged 115,000 per month over the prior two months. Employment in the private goods-producing sector rose 11,000 in August, while manufacturing employment slipped by 4,000.

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT SEASONALLY ADJUSTED DATA

In the week ending August 27, the advance figure for seasonally adjusted initial claims was 409,000, a decrease of 12,000 from the previous week's revised figure of 421,000. The 4-week moving average was 410,250, an increase of 1,750 from the previous week's revised average of 408,500.

Tomb of the Unknown Soldier

• Their shoes are standard military issue with some mod-ifications. They are built up so the sole and heel are equal in height. This allows the Sentinel to stand with their back straight and perpendicular to the ground. A side effect of this is that the sentinel can “roll” on the outside of the build-up as they walk down the mat. This allows them to move in a fluid fashion. If done correctly their hat and bayonet will appear to not “bob” up and down with each step. This gives them a more formal and smooth look as they walk rather than a “marching” appearance. There is also a “clicker” built into the shoes. This is a shank of steel attached to the inside face of the heel. It allows sentinels to click their heels during certain movements. If done properly during the changing of the sentinels the click will be so perfect that it will sound like one click.

• Only eight words are spoken when the sentinels change. The sentinel being relieved will say to the relief commander and the replacement sentinel, “Post and orders remain as directed.” The relieving sentinel replies, “Orders acknowledger.”

• The average tour of duty for a sentinel is about a year. There is no set time for service. The sentinels live in a barrack at Ft. Myer, which is located adjacent to the Ar-lington National Cemetery. They can live off base if they prefer. There are also living quarters under the Arlington amphitheater where they stay during their 24-hour shifts. The sentinel guards are a special platoon within the 3rd U.S. Infantry Regiment.

• The Sentinel Identification Badge is awarded after a sentinel passes a special test and has served nine months. This Badge is a full size award, and is worn on the right pocket of their uniform jacket. This badge is the second rarest decoration awarded by the U S Army. (Only the Army Astronaut Badge is rarer.)

• Have there ever been any unusual circumstances at the Tomb? In 1984, a former government employee took the sentinel hostage with a handgun. In that situation the Tomb sentinels not on duty were alerted and proceeded to tackle the gunman from behind – no one was injured.