Finance Job Losses Near 200K as Firms Cut Back

BLS has cited that both financial and government employment have been leading the charge when it comes to cutting employment. Labor is arguably the highest cost of any firm public or private and is more than likely why we should not be surprised by this article.

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Navajo Nation Growth

America’s largest Indian tribe, the Navajo Nation, is planning to stimulate growth in their territory by issuing a bond offering of $120 million. The bond offering will finance over 50 projects on the reservation held in Arizona, New Mexico, and Utah according to Navajo officials.

In May Standard and Poor awarded the Navajo Nation an A rating, citing that the territory had strong natural resources along with cash reserves, aiding the sovereign area  in obtaining a better credit rating than their California neighbors.

Officials are looking to spur both economic and labor growth within the reservation which is populated by over a third of citizens below the poverty line. The project looks to create dozens of convenience stores, several fast food restaurants, shopping centers, industrial complexes, tourist center, along with a radio station. Early estimates show that the project will generate $3.2 million in annual income for the reservation along with over 6,000 jobs.

Some analysts believe that this will catapult the Indian Country as a domestic emerging market while others believe that traditional loaning practices through financial institutions would be a better option (due to the rate differences). Nonetheless this is just more evidence that the economy, from coast to coast (or reservation), continue to push to create an environment for investment and growth.

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Advice For Future Fed Challenge Teams

– Create a sound timeline. It may seem that you have plenty of time but there needs to be a sense of urgency throughout the semester. Failures to do so could create an environment were the team’s quality and efficiency might be overlooked.

-Clearly outline the most important parts of the economy that need to be considered in your presentation early in the semester. After, select members that will specialize in those parts and will continue to inform the team about the movements and relevance throughout the semester.

-Talk about past and current monetary policy religiously. Using FOMC minutes and speeches will allow all members to align themselves with a particular point of view. Then have members voice their opinions and create an environment where healthy debate can allow members to strengthen their ideas and look at wide variety of remedies for the economy.

-Be serious about this commitment. This is a challenge, thus the name, and as a member you need to prepare yourself for a semester of serious learning. This is not a class, more like on the job training.