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+.

Developing an Employee Reward Program

February 27, 2020 by Tim McMahon

In this competitive business world, more business owners are searching for quality improvements while reducing costs. While companies need to get more from their workers, employees will expect more in terms of gratitude as well.

One mechanism by which workers are inspired to change work habits and ethical behavior is through incentives and appreciation.

Many employers nowadays show their appreciation to their people by implementing recognition programs for their variety of achievements, through rewards software like Redii which can build a culture of recognition by giving your employees the autonomy to recognize each other rather than simply taking a “top-down” approach to recognition. Other ways to implement an Employee Reward Program include:

Common Programs That Companies Implement

Many companies give Loyalty Awards. It is done through the duration of the company’s service, mostly in intervals of five years.
Outstanding one-time performance awards often coincide with a cash bonus or additional paid time off.
Being the best performer over a period of time awards, on the other hand, is usually for workers who bring consistency to the work process or product, or who have an excellent customer or client service.

Successful workplace compensation and appreciation approaches are based on the belief that nothing is better than a heartfelt “thank you” or “job well done.” In this context, the introduction of a well-managed recognition system can provide significant support to employers to recruit high-quality employees to keep them motivated and efficient.

https://youtu.be/gSm4QJcB0Zs?t=4

Constructing an Employee Rewards Program

The key to creating a reward program are as follows: [Read more…] about Developing an Employee Reward Program

What are the Top Paying Positions for MBA Graduates?

February 26, 2020 by Tim McMahon

For some reason, a lot of people think that MBAs are only limited to a handful of roles. But with the changing nature of the MBA, graduates are now more versatile than ever and are sought after for a variety of positions that are as diverse as the specializations the degree offers. MBAs are also in very high demand in fields such as health care and technology and are asked to fill roles that are not always directly related to finance. In this article, we’re going to look at some of the highest paying careers for MBA graduates.

Engineering Management

Engineering managers can earn over $120,000 per year on average, with some earning as much as $166,410 per year at the higher end of the spectrum. Entry-level jobs start at around $75,000.

As an engineering manager, you might be asked to:

Direct and coordinate production
Direct quality insurance, maintenance, and testing in industrial plants
Oversee research and development
Mentor, train, and hire new engineers
Write performance reviews
Analyze market demand
Prepare bids, contracts, and budgets
Lead and supervise engineers

Engineers who want to get a job as an engineering manager can either go for an engineering management master’s or an MBA geared towards engineers. One of the options for engineers who want to further their education without leaving their current position is to get their master’s degree online.

Many Universities know that Engineers are busy and can’t stop their career to go back to school so they may offer an MBA tailormade for engineers that can be completed in as little as a year online. For instance, the Kettering University program allows you to get a second degree in engineering management or operation management with as few as four courses. This is a great opportunity for any engineer wanting to move into an administrative role or go into business.

Investment Banker

Investment bankers are [Read more…] about What are the Top Paying Positions for MBA Graduates?

How to Improve Morale in the Workplace

February 26, 2020 by Tim McMahon

It’s important to maintain a positive atmosphere at work for you and your staff. When morale gets low, it leads to counter-productive behavior and causes employees to get stressed and upset. To avoid these issues, here are some ideas on how you can keep high morale in the workplace.

Appraisals

Appraisals aren’t only opportunities to explore areas in which an employee can improve; they also allow staff to air any concerns they might be having regarding work. By providing a private and safe space for them to discuss how they’re feeling at work, this creates mutual trust between you. If employees feel as though they are being treated fairly and listened to, they will be more comfortable when they come into work, ultimately giving them a more positive attitude to their colleagues and duties.

Benefits

Another way in which you [Read more…] about How to Improve Morale in the Workplace

Learn a Skill in 2 Years: The Top 3 Trade Careers

February 26, 2020 by Tim McMahon

We’ve all heard of the great “gig economy”! But do you know what it really means?

It means that fewer people are working traditional 9-5 desk jobs than ever before. Instead, they’re choosing jobs where they can work from home and choose their own hours, but it often also means worse pay and fewer benefits as well.

Fewer people are going into the trades but that means the “trades” are having to pay higher wages and provide better benefits in order to attract workers.

Why go into debt for years when you could graduate in two (on average)? There’s nothing wrong with a trade career! They’re reliable, pay well, and give you time to be with your loved ones.

If you are considering a trade career, here are some of the most lucrative ones:

HVAC Technician

To be an HVAC technician, you need to have a good mechanical understanding or the willingness to learn. If your favorite unit in elementary school, science was learning about pulleys and machines, then this is a good career for you. No one wants to be too hot or too cold so every house eventually needs some sort of HVAC work done.

According to the U.S. Bureau of Labor Statistics (BLS), “Employment of heating, air conditioning, and refrigeration mechanics and installers is projected to grow 13 percent from 2018 to 2028, much faster than the average for all occupations. Commercial and residential building construction is expected to drive employment growth, and job opportunities for HVACR technicians are expected to be good.”

HVAC technicians only go to school for two years, and according to the BLS, the median annual wage for heating, air conditioning, and refrigeration mechanics and installers was $47,610 in May 2018. Plus rather than racking up college debt you can “earn while you learn” as an apprentice.

This trade career comes with benefits, and excellent pay. Learn more about becoming an HVAC technician today!

Home Inspector

If you’ve always been someone that loves getting to the root of a problem or [Read more…] about Learn a Skill in 2 Years: The Top 3 Trade Careers

Labor of Love: 5 Tips for Finding a Career You’re Passionate About

February 21, 2020 by Tim McMahon

If you are tired of heading to an unpleasant job or you can’t seem to settle on one, then it might be time to make some changes. With a little bit of help and some patience, you should be able to find a career you’re passionate about before you know it.

Consider Your Long-Term Goals

One of the most important steps in this process will be figuring out your long-term goals. Some people might want to travel and see the world while others would like to save up for a beautiful home and support their family. Once you have written down some of those goals and prioritized, it will be much easier to determine which types of careers are going to help you achieve your lifelong dreams.

Get to Work on Your Resume and Cover Letter

There are a few different reasons why you might want to work on your resume and cover letter well before you apply for any new jobs. In addition to making this process a little more streamlined, working on your resume will also help you reflect on your past jobs. By taking a look at previous jobs and hobbies, you are going to get some insight into exactly what type of career will suit you best. [Read more…] about Labor of Love: 5 Tips for Finding a Career You’re Passionate About

Comparing U.S. and European Unemployment Rates

February 17, 2020 by Tim McMahon

Often we get complacent and think that our situation is the same (or very similar to) other developed countries. But that is not always the case. Today we are going to look at how the unemployment rate in the U.S. compares to that of Europe.

In the following chart created by Statista from data supplied by “Eurostat” and “National Institute of Statistics and Economic Studies (France)” we can see that Europe itself is not one unified block with identical (or even similar) unemployment rates.

The data in this graphic is from the end of 2019 when unemployment rates in the United States were at 3.5%. We can see that the countries in yellow had comparable unemployment rates to the U.S. i.e. Germany, Poland, and the Netherlands. Britain, Romania, and Bulgaria were in the high 3’s with the surprise being the Czech Republic coming in at a scant 2.0%. According to an article in The Atlantic, the 2017 elections decimated the “Left and Center” leaving the moderate right and the anti-immigrant far-right. So we are free to conclude that without the influx of cheap labor from Northern Africa, that all of the rest of Europe welcomed with open arms, the Czech Republic has record low unemployment as only native Czech’s are competing for the jobs.

One of the other surprises is that [Read more…] about Comparing U.S. and European Unemployment Rates

Popular Side-Hustles for More Income

February 11, 2020 by Tim McMahon

If you’re looking for a great way to supplement your income, taking a side hustle with a passive income can help increase your earnings. Whether you choose to take a part-time job or work on a semiregular basis in the gig economy, there are many possible side hustle options that can get you the cash that you need to keep up with your financial demands. Any of these four side hustles may be right for you.

Online Selling

Simply listing products for sale on an online classified auction site can help you earn a handsome passive income. You can choose to either buy products or make items yourself to sell online. People might purchase these items online while you sleep, and you’ll see the money that you earn the next time that you check your account.

House Flipping

Another great way to earn some extra money is to [Read more…] about Popular Side-Hustles for More Income

January Employment Report- Maybe Not as Good?

February 8, 2020 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for January on February 7^th.

Last month we told you that the employment report was not as bad as the media tried to paint it. This month The New York Times is saying “Job Growth Gives the Economy an Upbeat Start to the Year” while Marketwatch calls the Labor Market “Astounding” and once again we have a slightly different opinion.

Yes, we are still in record low territory and that won’t change overnight. Seasonally adjusted Unemployment only notched up 1/10^th of a percent and the Labor Force Participation Rate (LFPR) has entered territory that it hasn’t seen in years… BUT the unadjusted numbers jumped up significantly (as they do every year) and the BLS adjusted the Population numbers DOWN significantly. This adjustment is what the pundits are not seeing and what makes me think the numbers may not be quite as good as they appear i.e. lower population means a higher percentage appears to be working (even though the actual unadjusted employment fell). This could have given the LFPR the apparent boost and made the Adjusted U-3 increase by less than it would have without the population adjustment. This is still not a bad employment report just perhaps not as rosy as the media made it sound.

Key January Employment and Unemployment Numbers

Unadjusted U-3 Unemployment- 4.0% Up from December’s 3.5%… Typically up in January, it was 4.4% in January 2019.
Adjusted U-3 Unemployment- 3.6% Up from 3.5% in December.
Unadjusted U-6 Unemployment- 7.7% Up from 6.7% in December… was 8.8% in January 2019.
Unadjusted Employment (Establishment Survey)- 150.102 million down from 152,934 in December.
Labor Force Participation Rate- 63.4% Up from 63.2%.

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

Nonfarm payroll employment rose by 225,000 in January, and the unemployment rate was little changed at 3.6 percent.
Notable employment gains occurred in construction, in health care, and in transportation and warehousing.
In 2019, job growth averaged 175,000 per month.

Of course, he is 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)” which showed a non-adjusted drop of 2.8 million jobs.

For more info see our Current Unemployment Chart and Current U.S. Employment Chart commentary.

Intrapersonal Intelligence

February 5, 2020 by Tim McMahon

What Is Intrapersonal Intelligence?

The word intra means “inside” or “within” so intrapersonal means “within yourself”—so, “intrapersonal intelligence” is just another term for self-awareness. People who have high intrapersonal intelligence are aware of their beliefs, goals, and, motivations. This is not the same as interpersonal skills. Rather than being good with people, they are often, Self-motivated, Confident, and Goal Oriented. These types of people are in high demand by companies and so if you can improve your Intrapersonal Intelligence you can drastically improve your chances at success.

Improving Your Intrapersonal Intelligence

When studying about something, some people learn by reading aloud, others by moving about as they memorize something, and some learn by making it into a song. The notion of this is based on the theory of multiple intelligence by Howard Gardner. He deems eight types of knowledge to help people when they want to understand something.

Among the myriad of probable types stated by Gardner is the intrapersonal intelligence. While it is only one of eight, many experts believe that it is something that every person innately has. However, some people find it quite challenging to identify as it is one of the lesser-known types of intelligence.

Give Your Resume a Boost by Increasing Your Skill Set

February 3, 2020 by Tim McMahon

Everyone knows that you shouldn’t treat your resume as an afterthought. The unfortunate thing is that a lot of people do just that, especially with the skills section. The skill section can either make or break your chances of getting the job you want. Below we will deconstruct the main types of resume skills.

Hard and Soft Skills

You need both. Too many people concentrate on only one or the other. What is the difference?

Hard skills include your job skills, experience, and education. Say, for example, you want a job in finance. You would need to excel in analysis and reporting. You would need both to proceed with a job in finance, not one or the other.

A soft skill would be the personality traits that make up your work style.

Did you know that, according to a recent study, employers want to see more of your soft skills? They can get anyone to perform financial analysis if they have a degree. However, how you interact personally with people is what employers put more emphasis on.

Someone could excel at reporting but fail when it comes to personal relations.

https://youtu.be/x24JTn0w1d4