The Tennessee Department of Safety and Homeland Security has begun issuing new driver licenses and identification cards with a fresh design and improved security features along with new self-service kiosks to reduce wait times at Driver Service Centers.

The new credentials and kiosks will expand to all Driver Service Centers during the next few months.

The new credentials are made with a sturdy poly-carbonate composition, incorporate cutting edge security and printing techniques. This includes elaborate overlapping of data and graphics and laser engraved elements that will show if the document has been altered or is fraudulent. A machine-readable barcode with applicable class, endorsements and restrictions are printed on the back of the card. A mini ghost image repeated from the photograph is encoded elements for automated validation to help reduce identity theft.

There is no need for citizens to obtain a new license or ID before their existing license or ID expires. Previously issued licenses are valid until the expiration date listed on the card.

Tennesseans can use the self-service kiosk to complete many Driver Services transactions, including renewing or replacing a duplicate license or ID, changing an address, updating emergency contact information, advancing a teen/graduated driver license, paying reinstatement fees and requesting a license reissue after reinstatement requirements are met. The new kiosks can take photos and process payments with Apple Pay, Google Pay or a credit or debit card.

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Tennessee Guard celebrates 250 years

Soldiers, Airmen, and friends of the Tennessee Military Department gathered at Nashville’s Joint Force Headquarters last week to celebrate and honor the Tennessee National Guard’s 250th birthday.

Maj. Gen. Warner Ross, Tennessee’s Adjutant General, and Command Sgt. Maj. Dale Crockett, Tennessee’s Senior Enlisted Leader, hosted the ceremony where hundreds of service members reflected on the organization’s heritage, accomplishments, and service over the last two and a half centuries.

Ross presided over a ceremonial cake cutting, service members listened to guest speakers, and everyone honored the sacrifice and accomplishments of all those that came before them.

“Celebrating 250 years of service to our state and nation is a remarkable achievement,” Crockett says. “I am proud of what our Soldiers and Airmen have done over the years, and it is reflected in the traditions and accomplishments they’ve performed since the first militiamen volunteered to serve back in 1774.”

The Tennessee National Guard’s origins trace back to before Tennessee became a state. In 1774, the Virginia frontier was under attack by Shawnee Indians, so Lord Dunmore, the Royal Governor of Virginia, ordered four regiments of militia and volunteers to organize and repel the attacks.

Capt. Evan Shelby, a militia leader from the self-governing Watauga settlement that was in Tennessee’s present-day Sullivan and Carter counties, formed the settlement’s first volunteer militia company, named the Fincastle Company, to assist the Virginia governor.

Shelby and 49 other militiamen assembled Aug. 17, marching from their homes to join the amassing Virginia regiments. This marked the first time “Tennesseans” deployed for war as a militia.

“That moment represents the birth of the Tennessee militia, which transformed into the present-day Tennessee National Guard,” Ross says. “It also started a tradition of volunteerism that is celebrated as our state’s nickname and is a core belief of everyone here today.”

State on record streak with unemployment rate

For a third consecutive month, the statewide unemployment rate remained at an all-time low of 3%, according to new data from the Department of Labor and Workforce Development. The state first marked the record low for seasonally adjusted unemployment in May, and it has held steady ever since.

Over the past year, Tennessee’s statewide unemployment rate dropped 0.2%, from 3.2% to 3%.

Employers across the state added 2,000 new nonfarm jobs to their payrolls between June and July. The construction sector accounted for most of the new jobs. The health care and social assistance sector was responsible for the next highest amount of job growth, followed by the wholesale trade sector.

Comparing year-to-year job growth, Tennessee has 22,600 additional nonfarm jobs. The largest increase in employment was in the education and health services sector, followed by the mining, logging and construction sector, and then the trade, transportation and utilities sector.

The nationwide rate increased during July. Seasonally adjusted unemployment grew by 0.2% to 4.3% across the United States.

In a year-to-year comparison, the national unemployment rate jumped 0.8%, from 3.5% to 4.3%.

Survey: Employee, job seeker confidence rises

Vaco, a leading global talent solutions firm, today released the third quarterly Vaco Talent Pulse Report of 2024, featuring results that signal a rise in employee and job seeker confidence across all three key areas measured, including job security, financial status and career advancement.

This marks the fifth installment of the Vaco Talent Pulse Report, and the first quarter that year-over-year comparative data is available.

The Q3 data points reflect a stark departure from Vaco’s Q2 Talent Pulse Report results, which indicated reduced confidence levels among job seekers and employees. Most notably, the Q3 report showed respondents are feeling confident in their ability to acquire and retain a job:

New year-over-year data by Vaco offers a snapshot of worker sentiment amid economic uncertainty.

• 45% are extremely confident in their current job search, as compared to only 35% of respondents in Q2 – a jump of 10 points in one quarter – and 39% in the third quarter of 2023, yielding a 6-point year-over-year increase.

• Only 26% of respondents reported feeling a lack of confidence in their job search, which is a seven-point drop from Q2 (33%) and a 2-point dip from a year ago (28%).

“Despite the economic uncertainty that has punctuated much of 2024, our Vaco Q3 Talent Pulse Report reveals a workforce that has remained determined and resilient in the face of market challenges,” says Vaco president Kevin Witt. “Compared to a year ago, confidence levels among job seekers and employees have shown improvement or stability across three areas of focus, including job security, financial status and career advancement. It is notable given elevated unemployment rates in both the U.S. and in Canada.”

“The data underscores a transition toward a workforce that is not only more adaptable, but also more optimistic, navigating economic fluctuations with grit and agility,” Witt adds.

Zillow: Sellers lost advantage in July

Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to the Zillow market report. But recent drops in mortgage rates should spur more competition as we head into fall.

“If this relief from mortgage rates continues, we should see more buyers restarting their hunt for a home,” said Zillow chief economist Skylar Olsen. “But although rate lock among homeowners is easing, they probably won’t be as motivated to jump back into the market and sell. With housing inventory still scarce, this improved affordability picture could reignite competition and sales as we head into the fall, or at least delay the usual post-summer cool-down.”

Sellers gave up a marked advantage over buyers in July on the national scale, as the Zillow market heat index moved into neutral territory for the first time since December. This marks the first July the national market has been neutral since 2019; in each of the past two years, the market moved into neutral ground in October.

Homes are lingering on the market – even successful listings took almost a week longer to sell in July than last year. While that’s still five days faster than the average pace of sales in the years before the pandemic, it’s still a sign that buyers were much less eager to commit.

Inventory accumulated further in July and now stands nearly 25% above last year’s levels, marking the eighth straight month the year-over-year inventory gap has widened. Compared to pre-pandemic norms, the inventory shortfall shrank a bit and is now down 31.5%, the smallest deficit since October 2020.

In an effort to win over cash-strapped buyers, home sellers again cut prices at record levels. More than 26% of homes on Zillow received a price cut in July, the highest share for any July since at least 2018, when the data set began.

SBA Working Capital Loans deadline Sept. 13

The U.S. Small Business Administration encourages small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations in Tennessee with economic losses due to severe storms and tornadoes that occurred Dec. 9, 2023 to apply for working capital disaster loans before the Sept. 13 deadline.

The disaster declaration covers Benton, Carroll, Cheatham, Crockett, Davidson, Dickson, Dyer, Gibson, Henry, Hickman, Houston, Humphreys, Macon, Madison, Montgomery, Obion, Robertson, Rutherford, Stewart, Sumner, Trousdale, Weakley, Williamson and Wilson counties in Tennessee.

These federal Economic Injury Disaster Loans (EIDLs) are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. Loan amounts can be up to $2 million with interest rates of 4% for small businesses and 3.25% for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.

Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

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