Priceless Vol 8 Number 12
Personal and Professional Empowerment www.hamptonroadsmessenger.com
Serving Norfolk, Portsmouth, Chesapeake, Hampton, Newport News, Suffolk, and Virginia Beach since 2006 Warner:
1st Annual Unity Weekend Cookout
Economists: There’s Room for Improvement in Virginia Unemployment
Export-Import Bank Supports VA Port Jobs
Free August 2014 MEAC
Announces 2014 Preseason All-MEAC Awards
Hampton City Mayor Presents Honorary Proclamation to Bryant & Stratton College
BY KAITLYN SPEER Unemployment
ALEXANDRIA, Va. — numbers
Virginia aren’t too bad, but economists say there’s still room for improvement.
Virginia’s jobless rate stood at 5.3 percent in June, down from 5.7 percent a year ago and lower than the national rate of 6.1 percent, according to the Virginia Employment Commission. That most recent number is a slight bump up from 5.1 percent in May, however.
Keith Hall, a senior research fellow at George Mason’s Mercatus Center
Fairfax, said he thinks Virginia needs continued growth in the labor market and he’s worried what the government is doing to raise the cost of hiring.
“That doesn’t help. That doesn’t encourage businesses,”
he said. “There’s talk about the minimum wage. It’s well-inten- tioned, but if it’s raised, it raises the cost of hiring with people with low skills. It’s going to be hard for companies to keep hiring them. We all want to see wage growth, but it can have an effect on the low-skilled people.”
consequences of any increase in the minimum wage could be
disastrous for Virginia’s
economy, according to experts who spoke with Watchdog.org
“It’s perverse in that the
people that most need our help are the people who are most hurt by this minimum wage,” said Antony Davies, a senior scholar affiliated with Mercatus Center
professor of economics
Duquesne University in Pennsylvania.
UNEMPLOYMENT PAGE 3 This Edition’s Highlights
Education Editorial Health
Become Wealthy Without Winning the Lottery New Initiative to Provide All Students Access to Great Educators
How To Start Getting Fit For Life
Hampton Roads Upcoming Events Scholarships Watch
Norfolk Health Dept. Offers Free Dental Screenings Symphony Under the Stars: Virginia Symphony Orchestra 2014-2015 Xerox Technical Minority Scholarship
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In honor of the College's 160 Anniversary, Hampton City Mayor George Wallace presented Bryant & Stratton College - Hampton Campus with a special proclamation observing July 16, 2014 officially as Bryant & Stratton College Day in the city of Hampton. Pictured are Hampton City Mayor George Wallace (right), Christopher Sawyer, Campus Director (center), and Councilman Billy Hobbs (left). Courtesy of Bryant & Stratton College
HAMPTON, VA, – The Hampton
Campus of Bryant & Stratton College was presented with a special Proclamation from Hampton
City Mayor George Wallace,
observing July 16, 2014 officially as “Bryant & Stratton College Day” in the city, in commemoration of its 160th anniversary.
City officials, local leaders and employers
attended the special ceremony to witness the College receive the esteemed honor. “We are extremely excited to receive this prestigious recognition from Mayor Wallace”, says Chris Sawyer, Hampton Campus Director, “and we truly appreciate all of the support that we’ve
PROCLAMATION PAGE 14
Refinancing Loans: Not Just for Mortgages Most people know they can refinance a
and an associate at
mortgage - that is, replace an existing loan with a new one that may offer better terms. But did you know you also can refinance personal loans, including auto loans, credit cards and student loans?
you money, especially if you get a lower interest
"Refinancing a personal loan may save rate, a lower monthly payment or
other benefits," noted Susan Boenau, Chief of the FDIC's Consumer Affairs Section. "However, refinancing does not always equate to saving money or better terms."
Here are ways to see if refinancing makes sense for you.
Think about your goals. For example, if you want to simplify your life by consolidating multiple
credit card accounts, most card
lenders allow you to transfer balances from other accounts for a fee. "Once you determine what you want to accomplish, you can make a better decision about whether refinancing is right for you," Boenau added.
Understand potential pitfalls. While you may be able to take advantage of promotional offers, such as introductory zero-percent interest or low Annual Percentage Rates (APRs), by transferring a balance and closing
a credit card a c c o u n t , you also may have a higher APR than what you were originally paying when the promotional rate ends.
Closing a credit card account also reduces your available credit and may adversely affect your credit score, which lenders often use to determine your interest rate. To avoid a reduction in your credit score, consider keeping cards you have managed well for a long time.
A balance transfer also may result in REFINANCING PAGE 3
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