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+.

6 Tips to Help You in a Successful Job Interview

March 12, 2021 by Tim McMahon

Nowadays, it’s become easy to search for jobs on the internet. So, people looking to escape the high cost of living in California can search for a job in Texas, Florida, or even Idaho. And if you live in snowy New England, you can search Maui job openings to locate the perfect job in sunny Hawaii.

After submitting your resume and getting accepted, then comes the job interview. Unfortunately, before you can get that perfect job there is one more hurdle… the job interview. But, there is a lot of competition among the others who are also interviewing for that same job. Here are some tips that you can use to have a successful job interview.

Do Your Research:

Make sure to do some research about the company you are interviewing with. If you know about things like their mission and products, it can help show your determination. It allows you to give well-informed and relevant answers to their questions.

When your employer asks you a question about why you want to work at the company, you should tailor your answer according to their goals and objectives. Remember, whenever you are trying to sell anything (including yourself) you need to present it to the customer (or interviewer) as “WIIFM” (What’s in it for me) with the “me” being the company in this case.

For example, if you are good at marketing you could show them how hiring you will help their bottom line.

Practice, Practice, Practice:

Practice ahead of time, before you go [Read more…] about 6 Tips to Help You in a Successful Job Interview

February Employment Shows Improvement in Leisure and Hospitality

March 6, 2021 by Tim McMahon

Highlights from the Bureau of Labor Statistics (BLS) employment / unemployment report for February released on March 5^th.

Unadjusted U-3 was Down from 6.8% to 6.6%
Adjusted U-3 was Down from 6.3% to 6.2%
Unadjusted U-6 was Down from 12.0% to 11.6%
Labor Force Participation held steady at 61.4%
Unadjusted Employment rose from 140.948 million to 141.926 million

Start a Career in Financial Risk Management

February 23, 2021 by Tim McMahon

If you are business-minded and good with numbers, consider making a career change to financial risk management (FRM).

As the name suggests, a risk management analyst assesses strategies for businesses and determines appropriate risks. So, how do you start a financial risk management career?

Understanding Financial Risk Management

There’s almost always a risk when it comes to spending money. Typically, businesses and organizations have guidelines to manage those risks and attempt to protect their financial interests.

The roles of financial risk management specialists are:

predicting market trends that relate to the company
using risk management tools to study potential financial risks
potentially influencing company decisions

There are several categories of [Read more…] about Start a Career in Financial Risk Management

Things to Consider When Opening Your Restaurant

February 17, 2021 by Tim McMahon

Starting a restaurant is a dream come true for many people. However, it’s expensive to make that dream a reality, and “common wisdom” says that it is one of the least likely to succeed. So-called, “experts” often claim that as many as 90% of new restaurants fail in the first year. But RestaurantOwner.com thinks that the common wisdom is wrong. They say the actual number of failures in the first year is closer to 26% and about 19 percent failed in the second year and 14 percent in the third year. Other sources say only 17% of restaurants fail in their first year. Much depends on which year. Some years like 2009 had a much higher failure rate than others.

This is actually close to the average of all businesses with more than 20% of all new businesses failing in their first year. According to the Bureau of Labor Statistics (BLS) for businesses that started in 2019, 78.1% were still in existence a year later for a failure rate of 21.9%. On the other hand, information companies had the highest failure rate at 63% failing in their first year.

To put yourself and your business in the best financial position possible, you should look for ways to save money when you’re first opening. Naturally, you can’t skimp on food quality, so you have to find other places to cut costs. Here are some things to keep in mind when opening a restaurant.

Labor

One of your biggest expenses will be [Read more…] about Things to Consider When Opening Your Restaurant

Unemployment Goes From Extraordinarily Bad to “Only” Normally Bad

February 6, 2021 by Tim McMahon

Highlights from the Bureau of Labor Statistics (BLS) employment / unemployment report for January released on February 5^th.

Unadjusted U-3 was Up from 6.5% to 6.8%
Adjusted U-3 was Down from 6.7% to 6.3%
Unadjusted U-6 was Up from 11.6% to 12.0%
Labor Force Participation was Down from 61.5% to 61.4%
Unadjusted Employment Down from 143.700 million to 140.927 million

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

“The unemployment rate fell by 0.4 percentage point to 6.3 percent in January, and nonfarm payroll employment changed little (+49,000). The labor market continued to be impacted by the coronavirus (COVID-19) pandemic and efforts to contain it. Notable job gains in professional and business services and in both public and private education were offset by losses in leisure and hospitality, in retail trade, in health care, and in transportation and warehousing.”

Of course, 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…
Originally the BLS reported 143.777 million jobs for December, this month they adjusted that slightly.
So currently they are saying 143.700 million jobs for December and 140.927 million for January.
which is actually a decrease of 2,850,000 jobs based on their original estimates.

Unadjusted Employment Down Slightly in December

January 9, 2021 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for December on January 8^th.

Unadjusted U-3 was Up from 6.4% to 6.5%
Adjusted U-3 was unchanged at 6.7%
Unadjusted U-6 was unchanged at 11.6%
Labor Force Participation was unchanged at 61.5%
Unadjusted Employment Down from 144.105 million to 143.777 million

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

“Nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 percent. The decline in payroll employment reflects the recent rise in the number of coronavirus (COVID-19) cases and increased efforts to contain the pandemic. In December, job losses in leisure and hospitality and in private education were partially offset by gains elsewhere, particularly in professional and business services, retail trade, and construction.“

Looking at the CES report we see…
Originally the BLS reported 144.005 million jobs for November, this month they adjusted that to 144.105 million.
So currently they are saying 143.777 million jobs for December and 144.105 million for November.
which is actually a decrease of 228,000 jobs based on their original estimates.

How to Get a Job with No Experience

December 24, 2020 by Tim McMahon

Finding a job without experience is a common “Catch 22” or “no-win” type problem. But in real life, you don’t need to despair because everyone has been in this same situation early in their career and obviously many have succeeded despite this handicap. So all that remains is to discover how they did it and follow their example.

This is such a common problem that this question appears in many forms on Quora:

Be Reliable and Seek Apprenticeships

Martin Gainty says: That he runs a remodeling business and hires part-day-laborers all the time. “If the person does what they say they will do and manage to be sober and on-time” he would be happy to give them a reference to the local master-contractors “who are ALWAYS looking for apprentices”. He says electrical and plumbing apprentices are in high demand.

So the first tip is to be reliable and seek a job as an apprentice which will give you the experience you need.

Get in on the Ground Floor

Jobs That Are Readily Available If You Need One Quickly

December 15, 2020 by Tim McMahon

Finding a job can be quite a hassle since many people have exceptional talents in the market. The good news is that if you have unique skills, you can easily land a job. Here are some jobs that you can get with sheer simplicity.

Customer Service

If you are good at connecting with people, you can work at customer care service. This way, you can help customers solve the problems that they have. The good news is that the payment is per hourly rate, and it’s appealing. Plus, you can work remotely from home without spending bus fare.

Driver

Driver jobs in companies are [Read more…] about Jobs That Are Readily Available If You Need One Quickly

Employment Increased by 1/2 Million in November

December 5, 2020 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for November on December 4^th.

Unadjusted U-3 was Down from 6.6% to 6.4%
Adjusted U-3 was Down from 6.9% to 6.7%
Unadjusted U-6 was unchanged at 11.6%
Labor Force Participation fell from 61.7% to 61.5%
Unadjusted Employment up from 143.488 million to 144.005 million

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

“Nonfarm payroll employment increased by 245,000 in November, and the unemployment rate edged down to 6.7 percent. These improvements reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID- 19) pandemic and efforts to contain it. However, the pace of improvement in the labor market has moderated in recent months.”

But looking at the CES report we see…
Originally the BLS reported 143.459 million jobs for October, this month they only adjusted that slightly.
So currently they are saying 143.488 million jobs for October and 144.005 million for November.
which is actually an increase of 546,000 jobs based on their original estimates.

6 Ways You Can Reset Your Career

December 1, 2020 by Tim McMahon

The 2020 coronavirus pandemic has had a huge impact on people all over the globe, not least in terms of how business is done. You might, for instance, have had to adjust to working from home and been surprised at how efficiently you can achieve your daily tasks; or, less positively, you might have lost your job. If 2020 has had you seriously considering where to go next in your career, you may be feeling stuck in a rut with no way out. To help you out a bit and give you a few ideas, here are six ways you can reset your career.

1. Go For a Promotion

You might be finding that, although you enjoy your job and are comfortable in carrying it out, it is nevertheless no longer challenging you as much as it used to, perhaps even to the point of boring you. This might be a sign that your current job has become too easy for you, in which case you might like to consider going for a promotion. There are, however, several things you should consider before going for promotion. For instance, you could arrange an appointment to speak to a person in that role to learn more about what exactly their position entails and what qualities recruiters are looking for. They might even be able to point you in the direction of any further training that is required for the role.

2. Pursue Further Training For Career Development

Continuous learning throughout your life is [Read more…] about 6 Ways You Can Reset Your Career