Tim McMahon, Editor of UnemploymentData.com

My grandfather lived through the Hyperinflation in Weimar, Germany--to say he was an original “gold bug” would be an understatement. I began reading his “hard money” newsletters at the age of 16 and the dividends from gold stocks helped put me through college. I began publishing the Financial Trend Forecaster paper newsletter in 1995 upon the death of James Moore editor of Your Window into the Future and the creator of the Moore Inflation Predictor©. FTF specializes in trends in the stock market, gold, inflation and bonds. In January of 2003, I began publishing InflationData.com to specialize in all forms of information about the nature of Inflation. In 2009, we added Elliott Wave University to help teach you the principles of Elliott Wave analysis. In January 2013, we began publishing OptioMoney. Connect with Tim on Google+.

Tips for Starting a Successful Home-Based Business

December 21, 2021 by Tim McMahon

In the past, often people wouldn’t take home-based businesses seriously. If you had an office at home, you would do everything to hide the fact. However, this is no longer the case… These days home-based businesses are among the fastest-growing job segments.

Technology has been the key driver in this shift as many people are now able to handle their businesses from anywhere. You can start any business you are passionate about, and the benefits are staggering, including not having to worry about rent for the business when you start.

Write a Business Plan

The fact you’re starting the business at home does not mean you should discard all the professional recommendations of all other startups. A business plan is an essential document as it defines your business and provides recommendations for the direction you should take. This is a time-consuming step in setting up a home-based business, so do it well.

A good business plan should contain the information you need to run the business successfully. The document is also important when applying for funding or pitching for partnerships.

Register Your Business

Like any other business, you need to establish the legal status of your home-based business. If you choose to form an LLC, you must register with your state to run the business legally. This process varies by state, so check the local laws to know what you’re required to do.

Generally, you can consult your local County Office for information on how to go about your business registration. Also, you need an employer identification number, this is important as it offers several advantages, including making it possible to hire employees, filing business taxes, and opening a business bank account.

Important documents like your business plan and your formation papers quickly pile up as you start up your business, which is why it’s crucial to not misplace any of the paperwork. Be sure to keep it all organized and in the same location. The best way to maintain your documents and have them available for easy retrieval is by digitizing them by scanning them as PDFs, then merge PDF files and store them on your hard drive or in the cloud.

Getting Your First Customer

Getting the first customer is an experience that gives you hope. To make your business a success, you must begin with the first customer. This is possible if you engage the right marketing steps to make the business visible to as many people as possible. There are many options if you want to find customers, including looking for referrals, as Birdeye explains. Start with your friends and family and you can encourage them to share the information about your business with their friends.

Another option is to attend industry events, where you can showcase your goods and services. You could also team up with other businesses to see if they can accept partnerships. Don’t forget social media to spread the word about your business. This is one of the most effective marketing tools, especially for startups.

If you feel the need to beef up your business acumen, consider taking business classes to acquire the latest knowledge in areas like finance, management and marketing. Opting for an online college-level program makes sense, as you can work toward a degree while having the flexibility to complete assignments and take tests remotely and on your own schedule. Online programs can be completed in relatively quick fashion; it’s possible to earn an MBA through the University of Phoenix, for example, in just 16 months.

Separate Business and Personal Finances

After taking all the right steps to establish a home-based business, it can be tempting to mix your personal finances with money from your business. Forbes notes that managing business finances is important if you want to stay in business longer. While this is a one-person operation, you must separate business and personal finances, especially if your business is just starting out.

Keep your personal and business finances separate. This is the best way to protect your personal assets, and it’s a crucial idea as it makes it easy to handle tax filing, bookkeeping, and offers general organization.

Using your EIN, open a business account. This will make it easy to manage money in your business, and you can use the account for paying employees, suppliers, and other services. Because you’re running a home-based business, prioritize bank accounts that offer online banking.

Conclusion

Running a home-based business should not be different from running any other type of business. Except for the fact, the business is based in your home, you need to maintain all professional guidelines for a startup. Manage your finances separately, and ensure the business is registered and licensed.

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November Jobs Up But…

December 4, 2021 by Tim McMahon

November 2021 Unemployment report from the Bureau of Labor Statistics (BLS)

Unadjusted U-3 was Down from 4.3% to 3.9%
Adjusted U-3 was Down from 4.6% to 4.2%
Unadjusted U-6 was Down from 7.7% to 7.4%
Labor Force Participation Up 61.6% to 61.8%
Unadjusted employment rose from 149.226 million to 150.004 million

Although November’s job numbers are generally an improvement over October, Bloomberg called them”weird” and “the smallest jobs gain this year”. This jobs report is so weird because retail employment is DOWN by -20,400 in a month, known for increased retail employment. Market commentators are also blaming the Jobs report for Friday’s market drop.

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

“Nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over the month.”

As usual, they are talking about “Seasonally Adjusted Jobs” from the “Current Population Survey (CPS)” rather than looking at the results reported by actual companies in their “Current Employment Statistics survey (CES).”

But looking at the CES report, we see…
Initially, the BLS reported 149.217 million for October, which they adjusted to 149.226 million. For November, they are reporting 150.004 million,
which is an increase of 787,000 jobs based on their original estimates or an increase of 778,000 based on their updated numbers.

Find Opportunities To Boost Your Military Career When You’re In A Slump

November 23, 2021 by Tim McMahon

Many people reach a point in their career where they feel stagnant, even people employed by the armed forces. When this happens, it’s important to take control of the situation by utilizing the resources available to you. Here are some things you can do to give your military career a boost when you’re in a slump.

Online College

If you want to get ahead, you can benefit from obtaining an advanced degree in your field. As a member of the military, you may even qualify for free classes. However, going back to school may not appeal to you if you have a full-time job and personal obligations to tend to. When will you find the time?

Online colleges for military personnel allow you to take classes on your time. You can also take a whole class load or take just one or two classes at a time. College advisors can offer you guidance on managing your schedule and choosing the most necessary or useful classes.

Get Involved in the Community

As a member of the armed forces, you serve your Country. Connect to the people you serve by supporting work-related community efforts.

Your superior will appreciate your effort and keep you in mind when a promotion becomes available. You’ll also feel good about doing something good for the people in your area, increasing the bond between soldiers and civilians. [Read more…] about Find Opportunities To Boost Your Military Career When You’re In A Slump

October 2021 Unemployment Down as Expected

November 6, 2021 by Tim McMahon

October 2021 Unemployment report from the Bureau of Labor Statistics (BLS)

Unadjusted U-3 was Down from 4.6% to 4.3%
Adjusted U-3 was Down from 4.8% to 4.6%
Unadjusted U-6 was Down from 8.1% to 7.7%
Labor Force Participation unchanged at 61.6%
Unadjusted employment rose from 147.659 million to 149.217 million

These numbers are generally an improvement over last month (except Labor Force Participation), in line with market expectations. Typically October and November are up months for employment with Seasonal hiring for the Holidays.

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

“Nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6 percent.
Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing,
and in transportation and warehousing. Employment declined in public education over the month.”

But looking at the CES report we see…
Originally the BLS reported 147.682 for September which they adjusted to 147.659 million. For October they are currently saying employment is 149.217 million.
which is actually an increase of 1,535,000 jobs based on their original estimates or an increase of 1,558,000 based on their updated numbers.

The Spectacular Benefits of a Sales And Marketing Career

November 3, 2021 by Tim McMahon

If you are looking for a lucrative career that can provide you with a successful future, you might consider the benefits of a sales and marketing career. You will learn essential business and personal skills like building rapport, communication, creative thinking, negotiation, time management, and even storytelling. These can be used down the road in everything from business to dating. Whether you realize it or not, much of life involves sales. Do you want to borrow your parent’s car? You might need to come up with a good sales pitch. Looking for a job… that’s just selling your skills to a potential employer. Are you looking for a date? More selling. Trying to convince your spouse to go to a particular restaurant… you guessed it… selling.

Once you become proficient at selling, there are many related benefits. If you are a “people person” or good at building rapport, you are halfway there.

Compensation

A talented salesperson can almost write their own paycheck with any amount they choose. Selling is the one area of a business that actually generates profit rather than an expense. Any company worth its salt knows that salespeople generate profit, and without them, businesses fail. If you work on a 20% commission for every dollar you make, the company makes four (minus production expenses, of course).

You also have to consider that by driving new customers to the business, you will expand profits and, therefore, increase wages across the board. As for marketers, they are always necessary for any free-enterprise economy. This demand has not been subject to the typical ups and downs of other positions in recent history. As a matter of fact, market analysts and specialists now start at approximately $70,000 per year. And good commission-based salespeople can earn more than company Presidents. [Read more…] about The Spectacular Benefits of a Sales And Marketing Career

Got A New Job Out Of State? How To Find A New Home Fast

October 21, 2021 by Tim McMahon

If your career is taking you to a new job out of state, you’ll have many details that will need to be worked out in a short amount of time. One of the biggest is finding a new home, which can be challenging even under the best of circumstances. But with the current seller’s market in many areas of the country, finding an affordable home can be difficult.

However, you can solve this problem far quicker than you ever anticipated with some careful planning and determination.

Start Looking at Online Listings

Even if you don’t have a significant amount of time before relocating for your new job, one of the fastest ways to get started on the hunt is by checking online listings. Go online and start looking at listings of homes in the area to which you are moving. Since the pandemic, more agencies are offering homes via virtual tours, so you may be able to find the home you want at a reasonable price while sitting at your computer.

Contact a Local Real Estate Agent

If you aren’t comfortable [Read more…] about Got A New Job Out Of State? How To Find A New Home Fast

September Unemployment Disappointing

October 9, 2021 by Tim McMahon

September nonfarm payroll report from the Bureau of Labor Statistics (BLS)

Unadjusted U-3 was Down from 5.3% to 4.6%
Adjusted U-3 was Down from 5.2% to 4.8%
Unadjusted U-6 was Down from 8.9% to 8.1%
Labor Force Participation Down from 61.7% to 61.6%
Unadjusted employment rose from 147.028 million to 147.682 million

Although these numbers are generally an improvement over last month (except Labor Force Participation), the market expected better. Bloomberg was projecting jobs growth of roughly 2.5x what we actually got.

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

Nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell by 0.4 percentage point to 4.8 percent.
Notable job gains occurred in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing.
Employment declined in public education over the month.

But looking at the CES report, we see…
Initially, the BLS reported 146.856 for August, which they adjusted to 147.028 million. For September, they are currently saying employment is 147.682 million.
This is an increase of 826,000 jobs based on their original estimates. Or an increase of 654,000 based on their updated numbers.

However, the market considers this a “much softer-than-expected September nonfarm payroll report” since Bloomberg was projecting 500,000 new jobs instead of the CPS Seasonally Adjusted 194,000.

The labor force participation rate dipped to 61.6% from August’s 61.7% rate, compared to forecasts of an increase to 61.8%.

Great Careers: No College Degree Necessary

September 27, 2021 by Tim McMahon

If college isn’t for you, there are still several career options available. Look into these careers that don’t require you to have a college degree.

Handyman

Many people work well with their hands and easily grasp concepts used in construction and home comfort. These people may find success as a handyman.

People call a handyman when something, such as plumbing or the HVAC system, breaks down. A handyman generally possesses extensive knowledge about how many different systems and things in the home. However, they may not have the authority to upgrade the circuit breaker or gas meter.

Security Guard

Security guards protect places and individuals that are at a higher level of risk. You’ve likely seen them at your bank, guarding VIPs, or protecting gated communities, or monitoring things during special events.

Being a security guard may require some specialized training, but you won’t need to go through a long, drawn-out process. Security guards also have the opportunity to learn more even after they have established themselves in their careers, giving them the chance to earn more money.

The U.S. Bureau of Labor Statistics lists various “Protective Service Occupations,” including Security Guards and Gambling Surveillance Officers. Private Detectives and Investigators, and Correctional Officers and Bailiffs. According to the BLS the average salary for Security Guards is $31,080/yr.

Garbage Collectors

For years, people made fun of garbage collectors for the more disgusting aspects of their jobs. However, the garbage collectors are the ones laughing now, all the way to the bank. Some of the established employees make as much as $112,000 a year. While the average salary is significantly lower, many sanitation workers still make more than some college graduates. Garbage collectors also get all of the benefits of a government job, including all federal holidays off, a retirement plan, health insurance, and job security.

Real Estate Agent

In order to become a real estate agent, you need to pass the required certification in your area. After that, the sky’s the limit on how much you can make. However, getting started can prove difficult for beginners.

You will need to work hard to get listings, develop meaningful relationships, and maintain those relationships before you get the opportunity to buy and sell expensive houses that come with high commissions.

A college degree does not necessarily equal a high-paying job, and you do have options without it.

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Blue State Unemployment is 33.33% Higher Than Red States

September 18, 2021 by Tim McMahon

Unemployment by State- August 2021

The U.S. Bureau of Labor Statistics releases the Unemployment rates for the country on the first Friday of the month. A couple of weeks later they release the breakdown for each of the fifty U.S. states. On September 17^th 2021, they released the individual state unemployment numbers for August 2021.

According to the report, “Unemployment rates were lower in August in 15 states and the District of Columbia and stable in 35 states, the U.S. Bureau of Labor Statistics reported today. Forty-nine states and the District had jobless rate decreases from a year earlier and one state was little changed. The national unemployment rate, 5.2 percent, declined by 0.2 percentage point over the month and was 3.2 points lower than in August 2020. Nonfarm payroll employment increased in 11 states, decreased in 3 states, and was essentially unchanged in 36 states and the District of Columbia in August 2021. Over the year, 49 states and the District added nonfarm payroll jobs and 1 state was essentially unchanged.”

Seasonally Adjusted State Unemployment Levels

The following table provides [Read more…] about Blue State Unemployment is 33.33% Higher Than Red States

6 Reasons to Know Your Rights as an Employee

September 13, 2021 by Tim McMahon

Know your rights as an employee. Regardless of what industry you work in, there are things that you may love or hate about your job. However, day after day, if the bad outweighs the good you may wish you could just quit.

Many people are dissatisfied with their work environment and are looking for ways to become entrepreneurs and avoid workplace drama. However, sometimes that drama is actually illegal and so here are six employee rights to be aware of.

Accidents

Regardless of your industry, workplaces can be more hazardous than homes. Of course, when you think of accidents at work, many think of construction, roofing, or police officers. However, accidents happen in the plushest offices where safety should be as important as a construction site.

Employees may suffer from an injury from falling over unsecured computer cords or need wrist surgery because the firm refused to purchase ergonomic equipment. But they don’t realize that these types of things can qualify for a worker’s compensation claim, so they don’t file. Labor & Industry attornies specialize in this type of case. So, hiring an L&I attorney could save them years of needless pain and agony (both physical and financial).

Privacy

Regardless of the industry or location, employees have the right to store their personal belongings in a safe place, free from theft or intrusion. That includes handbags, briefcases, and electronic devices. When an employee doesn’t work at a desk, jobs should provide a storage locker or other safe place for employees’ personal belongings.

Illnesses

Calling out sick shouldn’t [Read more…] about 6 Reasons to Know Your Rights as an Employee