Economic Conditions - Nashville, TN, U.S., Global

[samsonh]

7 hours ago, bnacincy said:

I wonder if Tennessee looks worse because of better rates of testing? That seemed to be an issue last year if I recall correctly.

https://coronavirus.jhu.edu/testing/states-comparison
 

more testing is not causing the high number of Covid cases. Lack of vaccination is. Creating havoc in our healthcare system currently. Pay rates for hospital staff are thru the roof and non elective procedures are being delayed.

[Armacing]

14 hours ago, samsonh said:

Pay rates for hospital staff are thru the roof

High wages for hospital staff are going to be necessary if we want to attract more people to that demanding/difficult/dangerous profession.

[markhollin]

The health care industry in Nashville is now generating nearly $67 billion per year in economic impact for the area, and increase of 59% in last 5 years according to Nashville Health Care Council in partnership with the Business and Economic Research Center at Middle Tennessee State University.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/09/27/nashville-health-care-council-economic-study.html

[markhollin]

93% of contractors nationally faced material shortages in 3rd quarter of 2021. How construction firms are managing thru the challenges:

https://www.bizjournals.com/nashville/news/2021/09/29/construction-materials-shortages-pandemic.html

[markhollin]

Construction cost spikes may prompt some developers to consider delaying or canceling projects.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/10/14/construction-costs-developers-material-shortages.html

[LA_TN]

11 hours ago, markhollin said:

Construction cost spikes may prompt some developers to consider delaying or canceling projects.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/10/14/construction-costs-developers-material-shortages.html

Steel actually went DOWN last week - believe it, or not

[Flatrock]

15 hours ago, LA_TN said:

Steel actually went DOWN last week - believe it, or not

Enough developers cancel projects nationwide (and worldwide), those commodity prices might drop a lot more. Unfortunately, other, non-material costs may continue to inflate, however - such as labor, logistics, design/engineering, etc..  Logistics are horrendous right now with little good news in sight....or at least that I've seen. It's a weird world right now.

[LA_TN]

7 hours ago, Flatrock said:

Enough developers cancel projects nationwide (and worldwide), those commodity prices might drop a lot more. Unfortunately, other, non-material costs may continue to inflate, however - such as labor, logistics, design/engineering, etc..  Logistics are horrendous right now with little good news in sight....or at least that I've seen. It's a weird world right now.

Logistics is a nightmare nowadays

[samsonh]

1 hour ago, LA_TN said:

Logistics is a nightmare nowadays

Strong demand with a lack of investment for years creates this.

[smeagolsfree]

10 hours ago, LA_TN said:

Logistics is a nightmare nowadays

Tell me about it. The video card for the computer I ordered the first of Sept. went from a delay of 2 weeks now to over 2 months at the earliest. I got so frustrated talking to the dingdongs in Mumbai India, I finally got a hold of the salesperson in Austin and talked to him directly. Dells customer service really stinks and they talk out both ends of their body if you can understand them.

But the guy in TX, said the supply chain has got a lot of orders on hold, off the record. My computer service can’t get the parts and I can’t offard a Mac, but probably the same deal. This is a custom build, so I guess I just have to wait. My parts are probably sitting off the coast of Cali. Somewhere!

I don’t know what the solution will be as you have one group of people screaming for these jobs to be brought back here, but there are not enough workers to cover the jobs we have now and the people that are available do not seem to have the skills to do the jobs that would be required to do the high tech work required for these mfg. jobs. Seems that some of these folks have their heads screwed on the wrong way as they don’t have the education to understand simple economics.

[samsonh]

1 hour ago, smeagolsfree said:

Tell me about it. The video card for the computer I ordered the first of Sept. went from a delay of 2 weeks now to over 2 months at the earliest. I got so frustrated talking to the dingdongs in Mumbai India, I finally got a hold of the salesperson in Austin and talked to him directly. Dells customer service really stinks and they talk out both ends of their body if you can understand them.

But the guy in TX, said the supply chain has got a lot of orders on hold, off the record. My computer service can’t get the parts and I can’t offard a Mac, but probably the same deal. This is a custom build, so I guess I just have to wait. My parts are probably sitting off the coast of Cali. Somewhere!

I don’t know what the solution will be as you have one group of people screaming for these jobs to be brought back here, but there are not enough workers to cover the jobs we have now and the people that are available do not seem to have the skills to do the jobs that would be required to do the high tech work required for these mfg. jobs. Seems that some of these folks have their heads screwed on the wrong way as they don’t have the education to understand simple economics.

Semiconductor foundries are being built here in the US again. The investment is massive. It just takes years for that them to produce. Earlier this year a bipartisan bill passed to subsidize and accelerate this investment. It’s a national security matter imo

[Digital Dust]

20 minutes ago, samsonh said:

Semiconductor foundries are being built here in the US again. The investment is massive. It just takes years for that them to produce. Earlier this year a bipartisan bill passed to subsidize and accelerate this investment. It’s a national security matter imo

The average time for a semiconductor factory is about 3-4 years. That's in perfect conditions... As we all know we are very far from perfect conditions. So we're going to be in this hell for awhile  

I've also been wanting to buy a graphics card (GPU), but can't get one. I guess I should figure out how to make bots to buy things for me. And price! I miss the days of $450 was about top of the line, now it's $1200.... Ugh

[markhollin]

Encouraging stats and chart about the cost of living in the Nashville area from a new JLL/NHJ report.

 

[markhollin]

Tennessee’s weekly coronavirus test positivity rate – an important metric that measures the prevalence of the virus – fell below 10% on Wednesday for the first time since July.

Positivity rate isn’t the only metric that’s dropping either. Tennessee’s outbreak continues to shrink by virtually every measurement as the state moves toward a seeming end to the delta surge.

As of Thursday, the state was reporting less than 1,500 new infections per day and the number of people hospitalized by the virus had fallen to about 1,300. Both statistics were three times higher as of this time last month. Tennessee is also reporting less than 20,000 active infections for the first time since July.

In fact, the Tennessee outbreak slowed so much it allowed another state to take the lead in a race to the bottom. Tennessee is no longer reporting the most per capita infections of all U.S. states over the length of the pandemic, according to the Centers for Disease Control and Prevention. North Dakota surpassed us on Monday.

More at The Tennessean here:

https://www.tennessean.com/story/news/health/2021/10/22/covid-19-tennessee-finally-falls-below-red-line/8467380002/

[smeagolsfree]

It’s still not low enough for me. I am just afraid of what the winter months will bring and if another Covid variant will rear it’s ugly little head. I want to go back to the gym and I just can’t do it until the case numbers really drop. 

[Bos2Nash]

On 10/23/2021 at 9:49 AM, markhollin said:

In fact, the Tennessee outbreak slowed so much it allowed another state to take the lead in a race to the bottom. Tennessee is no longer reporting the most per capita infections of all U.S. states over the length of the pandemic, according to the Centers for Disease Control and Prevention. North Dakota surpassed us on Monday.

Race to the "best of the worst" not really something we should be proud of highlighting lol

[bigeasy]

On 10/23/2021 at 9:49 AM, markhollin said:

As of Thursday, the state was reporting less than 1,500 new infections per day and the number of people hospitalized by the virus had fallen to about 1,300. Both statistics were three times higher as of this time last month. Tennessee is also reporting less than 20,000 active infections for the first time since July.

I can't read the article on there, but does it say where they are getting their numbers from? Per CDC website we were at 1,682 cases on 10/22/2021 versus 2,938 10/22/2020. So not three times higher. 

[markhollin]

U.S. jobs market is getting hot: 531,000 net gain in new jobs added in October.  Unemployment rate is down to 4.6% now.

Dow Jones average set new record yesterday at 36,124.  It has grown 7,801 points in the past year, up 27.5%.

[Nashville Cliff]

2 minutes ago, markhollin said:

U.S. jobs market is getting hot: 531,000 net gain in new jobs added in October.  Unemployment rate is down to 4.6% now.

Dow Jones average set new record yesterday at 36,124.  It has grown 7,801 points in the past year, up 27.5%.

I wonder how long it will take the MSM to update their nation in a tailspin narrative.

[Licec]

12 minutes ago, Nashville Cliff said:

I wonder how long it will take the MSM to update their nation in a tailspin narrative.

The nation is, in a tailspin. It's a surprise they would even admit it.

Edited November 5, 2021 by Licec

[Nashville Cliff]

5 hours ago, markhollin said:

U.S. jobs market is getting hot: 531,000 net gain in new jobs added in October.  Unemployment rate is down to 4.6% now.

Dow Jones average set new record yesterday at 36,124.  It has grown 7,801 points in the past year, up 27.5%.

I also just read that August's original report of 366,000 new jobs has been revised up to 483,000, and September's  report of 194,000 boosted up to 312,000.

[BnaBreaker]

On 11/5/2021 at 2:26 PM, Nashville Cliff said:

I also just read that August's original report of 366,000 new jobs has been revised up to 483,000, and September's  report of 194,000 boosted up to 312,000.

The new infrastructure bill is sure to create it's share of jobs too, I would imagine!  

[BnaBreaker]

21 hours ago, BnaBreaker said:

The new infrastructure bill is sure to create it's share of jobs too, I would imagine!  

Not sure what "somebody" found "funny" or "sad" about this statement... building things requires people to build those things, hence jobs.  I swear, people find politics in the most mundane of statements these days.  

[smeagolsfree]

Maybe they thought they were minimum wage jobs!

[Luvemtall]

17 hours ago, BnaBreaker said:

Not sure what "somebody" found "funny" or "sad" about this statement... building things requires people to build those things, hence jobs.  I swear, people find politics in the most mundane of statements these days.  

Your absolutely right, no need to go there. Jobs are the backbone of a healthy economy… period!

Edited November 8, 2021 by Luvemtall
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