Archives for 2024

March 2024 Employment Higher Than Expected

April 6, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for March on April 5^th,2024.

Employment / Unemployment

Seasonally Adjusted U3: 3.8% down from 3.9% in February
Unadjusted U3: 3.9% down from 4.2% in February
Unadjusted U6: 7.4% down from 7.8% in February
Labor Force Participation Rate: 62.7% up from 62.5%
Employment: 157.218 million up from 156.559 million
Next data release May 3^rd 2024

Summary:
Total Employed increased in March, Labor Force Participation was up and Seasonally Adjusted Unemployment was down. Overall, an encouraging report. The market took this as a positive sign and rallied. The one concerning area is the continued increase in government employees as a percentage of overall employees.

According to the Commissioner of the U.S. Bureau of Labor Statistics:

“Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, government, and construction…”

“Among the major worker groups, the unemployment rate for Blacks (6.4 percent) increased in March, while the rates for Asians (2.5 percent) and Hispanics (4.5 percent) decreased. The
jobless rates for adult men (3.3 percent), adult women (3.6 percent), teenagers (12.6 percent), and Whites (3.4 percent) showed little or no change over the month…”

“The number of long-term unemployed (those jobless for 27 weeks or more), at 1.2 million, was little changed in March. The long-term unemployed accounted for 19.5 percent of all unemployed people. Both the labor force participation rate, at 62.7 percent, and the employment-population ratio, at 60.3 percent, were little changed in March. These measures showed little change over the year.”

You can read the full BLS report here.

As usual, they are talking about “Seasonally Adjusted Jobs”.

Looking at the Unadjusted Establishment Survey report we see…
Originally the BLS reported employment of 156.555 million for February which they adjusted to 156.559 million (for a gain of 4,000 jobs). They are currently reporting 157.218 million jobs for March which is actually a gain of 663,000 jobs compared to their original numbers. But many of these jobs came from government. Theoretically, the government could make the unemployment numbers continue to look good by simply hiring all the unemployed workers.

Government Employment

As indicated above, Government Employment is rising rapidly sucking up available employees and keeping the unemployment rate low.

If we compare the above chart with the total Private Employment we can see that government employment is rising at a steeper rate than private employment. Initially, after COVID, private employment resumed sharply but then it leveled off some. But the government employment increase hasn’t leveled off.

Total government employment is 23.270 million compared to a total private employment of 134.863 million.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment remains above the pre-COVID 2019 cyclical lows of 3.5%, as well as above the lows made early in 2023. But have retreated away from the “yellow zone.”

Exploring the Benefits of a Career in Truck Driving

April 3, 2024 by Tim McMahon

Are you looking for a career that offers stability, flexibility, and the opportunity for growth? If so, a career in truck driving may be the perfect fit for you. In this blog post, we will explore the many benefits of pursuing a career in truck driving and why it may be the right choice for you.

Competitive Salary

One of the biggest benefits of a career in truck driving is the competitive salary. Additionally, many trucking companies offer bonuses, benefits, and other incentives to attract and retain drivers. With the potential for overtime pay and opportunities for advancement, a career in truck driving can provide a lucrative income for individuals.

Job Security

Another advantage of a career in truck driving is the job security it offers. With the demand for goods constantly growing, there is a consistent need for truck drivers to transport goods across the country. This means that truck drivers are always in high demand, providing a sense of job security that may not be found in other industries. Additionally, advancements in technology and regulations have made truck driving safer and more efficient, further improving job security for drivers.

Cranes in Construction: A Sky-High Opportunity for Entrepreneurs

March 26, 2024 by Tim McMahon

Several years ago, while living in Virginia, I met a man who retired from owning a crane rental company. He owned a place with a couple hundred acres, and a 4,000 sq. ft. house with a separate multi-car garage to store his car collection. He employed a few grounds-keepers to keep it in park-like condition and occasionally rented the pavilion out for weddings and such. The crane rental business was very good to him. In today’s article we’re going to look at some information about the crane rental business. ~ Tim McMahon, editor

The Crane Rental Business

Entering the construction industry is like digging into a gold mine. With the world’s growing population, the demand for infrastructure is soaring, creating lucrative opportunities for all types of businesses for those willing to take the plunge. One of the most essential, yet undervalued, sectors within the construction boom is crane rental – a vertical that’s not just about lifting heavy loads; it carries the weight of enormous potential for entrepreneurs.

Today, we’ll hoist the facts, balance the logistics, and lay the groundwork for understanding how to leverage crane rental services in the construction industry. Whether you’re a seasoned business owner looking to diversify or a start-up entrepreneur hoping to elevate your enterprise, it’s time to explore the intricacies and perks of this lofty sector.

Understanding the Crane Rental Market

The allure of the crane rental market lies in its steady growth, largely due to the global upsurge in construction activities. This sector’s economic resilience even during downturns is a testament to its stability. However, navigating this space requires a firm grasp of market trends, customer needs, and industry regulations.

Current market trends point to a surge in urban development, the growth of the renewable energy sector, and an increased preference for high-rise structures. This spells out an escalating demand for lifting solutions, positioning rental services at the forefront of the industry’s growth.

Clients in the construction industry often require more than just a crane; they seek end-to-end solutions. From consultation services to the provision of additional equipment and skilled operators, the ability to cater to these varied needs is crucial for success in the crane rental business.

Operating a crane rental business isn’t just about good customer service and efficient equipment; it’s also about adhering to stringent safety and industry regulations. Entrepreneurs must be well-versed in local and national laws that govern crane operations to maintain a competitive edge while ensuring workplace safety is a priority. [Read more…] about Cranes in Construction: A Sky-High Opportunity for Entrepreneurs

Preparing for a Career in Medicine: What You Need to Know

March 20, 2024 by Guest Contributor

Are you considering a career in medicine? Whether you have just graduated high school or are looking to make a career change, the field of medicine offers a rewarding and fulfilling path. However, before diving in, there are important factors to consider to ensure you are well-prepared for the journey ahead. In this post, we will discuss essential tips for starting a career in medicine that will help you navigate the challenges and opportunities that lie ahead.

Consider What Sparked Your Interest in the Field

The first step to starting a career in medicine is to carefully consider your motivations and goals. Medicine is a challenging field that requires dedication, hard work, and a genuine passion for helping others. Take some time to reflect on why you want to pursue a career in medicine and what you hope to achieve. This will not only help you stay motivated during the long and demanding training process, but also guide you in choosing a specialty that aligns with your interests and values.

A career in medicine should not be taken lightly. It is a calling that demands a significant commitment and sacrifice from those who choose to pursue it. The journey to becoming a doctor involves years of rigorous education, long hours of studying and training, and immense pressure to perform well. It also requires a deep sense of empathy and compassion for patients, as well as the ability to handle high levels of stress and make difficult decisions. Before embarking on this path, be sure to fully understand the challenges and responsibilities that come with the career.

Possible Medical Careers

There is a vast selection of possible careers in the medical field everything from Medical Coders, to Paramedics (EMTs), CNAs, Nurses (several types), Doctors, Surgeons, Lab Techs, Physician Assistants, and Heath Care Administrators to name just a few. Each requires different levels of training and requires different skills. So, you need to do your research on the niche you choose to pursue.

How to Create a Car Hauling Business

March 14, 2024 by Guest Contributor

Have you ever considered starting a car hauling business? If you have a passion for cars and transportation, this could be the perfect business opportunity for you. This blog post will discuss the steps you need to take to create a successful car hauling business. From obtaining the necessary licenses and insurance to marketing your services, this post will cover everything you need to know to get started in this industry.

Utilize Research and Planning

The first step in creating a car hauling business is to do your research and create a solid business plan. Research the market demand in your area, competitors, and pricing strategies. Determine the type of services you will offer, such as local or long-distance hauling, open or enclosed transport, and whether you will specialize in certain types of vehicles. Planning is key to laying a strong foundation for your business and ensuring its long-term success.

Obtain Licenses and Insurance

Before you can start hauling cars, you will need to obtain the necessary licenses and insurance. Check with your state’s Department of Transportation to find out what licenses are required for car hauling in your area. You will also need liability insurance to protect your business and clients in case of accidents or damages. It’s important to comply with all regulations to operate legally and protect your business. [Read more…] about How to Create a Car Hauling Business

February Unemployment Increases

March 9, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for February on March 8^th,2024.

Employment / Unemployment

Seasonally Adjusted U3- 3.9% up from 3.7% in January
Unadjusted U3- 4.2% up from 4.1% in January
Unadjusted U6- 7.8% down from 8.0% in January
Labor Force Participation Rate 62.5% -unchanged
Employment 156.555 million up from 155.414 million

Summary:
Although employment rose, U3 Unemployment also rose in February in both adjusted and unadjusted rates. Unadjusted U6 fell, but adjusted U6 rose from 7.2% to 7.3%. Labor Force Participation was unchanged.

According to the Commissioner of the U.S. Bureau of Labor Statistics:

“Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing…”

“Among the major worker groups, the unemployment rates for adult women (3.5 percent) and teenagers (12.5 percent) increased over the month…”

“Among the unemployed, the number of permanent job losers increased by 174,000 to 1.7 million in February.”

You can read the full BLS report here.

As usual, they are talking about “Seasonally Adjusted Jobs”.

Looking at the Unadjusted Establishment Survey report we see…
Originally the BLS reported employment of 155.626 million for January which they adjusted to 155.414 million (for a loss of 212,000 jobs). They are currently reporting 156.555 million jobs for February which is actually a gain of 929,000 jobs compared to their original numbers. But many of these jobs came from government, and social assistance plus food services and drinking places. These are not the type of jobs that build a robust economy. And permanent job losers are increasing.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment is above the pre-COVID 2019 cyclical lows of 3.5% as well as above the lows made early in 2023. Current levels are nearing the beginning of the “Yellow Zone”.

Introducing The Dream Career Of Freight Broker

March 5, 2024 by Guest Contributor

If you’re looking for a career that offers flexibility, excellent earning potential, and the opportunity to work in a fast-paced industry, then becoming a freight broker could be the perfect career choice for you. This article will explore five reasons why a career as a freight broker could be the opportunity of a lifetime.

Lucrative Earning Potential

One of the most attractive aspects of becoming a freight broker is the earning potential. In this role, you have the opportunity to earn a commission on every shipment you broker. As you build your client base and establish yourself within the industry, your earning potential can increase significantly. Many experienced freight brokers earn six-figure incomes, making this a highly lucrative career choice.

Flexibility and Independence

As a freight broker, you have the flexibility to work from anywhere with an internet connection. Whether you prefer to work from home, a coffee shop, or a rented office space, the choice is yours. Additionally, you have the freedom to set your own schedule and work as much or as little as you prefer. This level of flexibility and independence is rare in many traditional career paths, making freight brokering an appealing option for those seeking control over their work environment and schedule. [Read more…] about Introducing The Dream Career Of Freight Broker

What To Know Before Applying to Colleges for Military Preparation

February 28, 2024 by Guest Contributor

Joining the armed forces is a noble profession that requires dedication, commitment, and sacrifice. The preparation for one’s military career begins way before boot camp and training commence; it starts with the college application process. Choosing a college that caters to the needs of military hopefuls is essential for success. However, very few students know the ins and outs of what to look for before applying to colleges for military preparation. In this blog post, we will provide guidelines on what to know before applying to colleges for military preparation.

Research Colleges with Programs for Military Preparation

The first and foremost step in choosing a college that caters to military hopefuls is researching available military prep programs. Unlike regular colleges, universities offering military preparation programs are invested in preparation programs designed explicitly with military training in mind. These programs specialize in physical conditioning, leadership, and character building. This preparation provides students with a better chance of success in the armed forces upon graduation. Students who aspire to join the military should look for colleges that offer such training programs.

Why Strategic Brand Marketing Is Crucial for Small Business Success

February 16, 2024 by Tim McMahon

Crafting a brand identity that resonates with your target audience is no small feat, especially in the current marketplace’s cluttered digital landscape. For small business owners, strategic brand marketing is not just about creating a pretty logo or a catchy tagline—it’s a foundational element that can set your business apart, summon customer trust, and pave the way for sustainable growth. In this post, we dive into the vital aspects of strategic brand marketing, detailing its power to elevate small businesses and providing actionable insights that are as applicable to the budding enterprise as they are to the established local gem.

Understanding Strategic Brand Marketing

Branding goes beyond mere aesthetics—effective brand marketing is an intentionally planned, strategically approached methodology. It encompasses every point of contact with a customer, from the name and visual identity to the customer service and the products themselves. Strong brands have a clear purpose, they’re consistent, and they create an emotional connection with their audience.

At its core, strategic brand marketing is the deliberate effort to cultivate a unique identity for your business and then communicate it effectively to your target audience. It’s a blend of art and science, where you carefully design a persona for your company and use various tools and channels to show the world what your business is all about.

Your brand marketing strategy should define your brand’s positioning, personality, promise, and the story behind it. These components form the framework that guides all branding activities.

Want to Go Into Trucking? 5 Things to Know Beforehand

February 16, 2024 by Tim McMahon

The trucking industry is an essential part of our economy, and it requires hard-working individuals to keep it moving. If you’re considering getting into the trucking industry, congratulations! You’re taking your first step toward a rewarding career. However, there are some things that you should know before you dive headfirst into the trucking world. In this article, we’ll be discussing the top things you need to know before getting started in the trucking industry. Let’s get started!

Types of Trucking

There are a variety of different types of truck driving depending on the type of truck, whether it is local or long-haul, and the type of load carried.

According to Indeed:

Flat Bed Drivers earn an average of $60,049/yr. and carry equipment or other machinery that wouldn’t otherwise fit in a trailer.
Less-than-truckload (LTL) drivers handle smaller loads or shipments. They earn an average of $61,613/yr.
Refrigerated freight drivers, or reefer drivers, transport goods that require a specific temperature and earn $61,879/yr.
Over-the-road (OTR) truck drivers deliver larger amounts of goods in bigger trucks, including tractor-trailers and earn an average of $78,113/yr.
Tanker drivers transport gases or liquids, either long or short distances, may require special training and earn $88,918/yr.
Team drivers work with another driver to complete national or even cross-border hauls and earn an average of $105,789/yr.

Other variations include Intermodal Trucking which involves delivering containers that are simply dropped on a flat-bed truck. There is also Hot Shot trucking which involves hauling smaller, more time-sensitive loads within a specific timeframe, and usually to a single customer or location. You can be an “owner-operator” or work for a big or small company. There are also furniture movers, local delivery drivers, and hazardous material haulers, among others. [Read more…] about Want to Go Into Trucking? 5 Things to Know Beforehand