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+.

Landing a Good Job Teaching ESL

June 27, 2018 by Tim McMahon

You dream of traveling the world teaching English as a Second Language (ESL) and have worked hard to graduate from your chosen ESL program. It is time to start applying for your dream job. The steps for landing an ESL job are similar to the steps for landing any other job. You still need to prepare your resume, apply for the job and ace your interview. Here are some tips for landing a job after graduating from an ESL program.

You Probably Need a Bachelor’s Degree

If you are planning on using your ESL degree to gain entry into a foreign country like Cambodia, Vietnam, Thailand, etc. You will probably need to have a Bachelor’s degree in addition to your ESL degree because most countries want to be sure that you aren’t taking a job from a native before they will offer you residency.

What Kind of Jobs are Available?

Teaching ESL can be done in a variety of different ways and places. You can teach ESL in an English speaking country to immigrants who do not yet know the language. Or you can travel to a foreign country and teach English to natives who want to improve their English. It can be taught in a traditional classroom or in one-on-one tutoring sessions. It can be simply conversational practice for someone who already knows the basics and just needs to improve their pronunciation or it can be teaching using pictures for someone who doesn’t know any English at all. ESL classes can also be online or in person. Classes can be made up of children, Teens, Adults and even strictly Professionals or “Business English”. [Read more…] about Landing a Good Job Teaching ESL

How to Know It’s Time to Start Your Own Business

June 21, 2018 by Tim McMahon

The idea of starting your own business can be a daunting one, but for some people, it is the perfect thing to do, especially if the other option seems to be long-term unemployment. It’s far better to try something different and start a business than to wait and see if something will come up in terms of work, assuming you are ready to do so. Here are some of the things to think about when you are wondering whether it’s time to start your own business.

Passion

One of the signs that it’s time to start your own business is that you have the passion for it. It your new venture the only thing you can focus on? Do you find you are daydreaming about it? When you are so passionate about something that it is taking over your life and becomes the only thing you can (and the only thing you want to) think about, then you know that you should start turning those ideas into a business. However, just because you are passionate about something doesn’t mean that you can launch straight into it in business terms; take your time and write a business plan first.

According to QuickBooks:

The seven components you must have in your business plan include:

Executive Summary.
Business Description.
Market Analysis.
Organization Management.
Sales Strategies.
Funding Requirements.
Financial Projections.

Decision Making

When you run your own business, you need to [Read more…] about How to Know It’s Time to Start Your Own Business

5 Things You Can Do with a Degree in Special Education

June 7, 2018 by Tim McMahon

Special education is one of the most in-demand specialties for teachers today. According to the CDC, about one in every six children has some type of developmental disability. Not all children requiring special education have a cognitive or physical delay or other challenge, as an increasing number of students are considered gifted or talented and need special education to meet their needs.

Earning a degree in special education opens the doors to a range of career opportunities, all of which are growing swiftly. As you think about your career in education, consider some of these paths to helping all students access the education they deserve.

Special Education Teacher

The most obvious path with a special education degree is to become a classroom teacher. Opportunities abound, as there are significant shortages of special education teachers in nearly every state. The expected growth in the field varies according to location and age group, with special education preschool and early childhood educators expected to see the most growth (9 percent) over the next six years. However, even elementary and secondary educators will see demand increase, with the expected growth rate at 6 percent.

Special education teachers may work with a full class of students, with individual students or with small groups. Some specialize in a specific subject area, such as reading, while others are generalists. Regardless, working as a special education teacher requires a higher-than-average degree of flexibility and patience, as well as a willingness to manage the paperwork that comes along with special education and to work as part of a team of parents, counselors, administrators and other teachers.

Special Education Specialist

Some schools or districts hire specialists to work with a specific population of students. For example, you might work with hearing-impaired students as an ASL interpreter or earn an autism certification online to work specifically with students with autism. In fact, autism is on the rise, with the CDC reporting rates of 1 in 68 children, and many of these children are being mainstreamed into traditional classrooms. Often, they need one-on-one assistance, and a special education specialist fills that role. In some cases, the specialist will work with the same student throughout their time in the school, allowing them to build a special bond and relationship with the student and his or her family. Specialists often face many of the same challenges as classroom teachers, though, in terms of needing patience and flexibility and managing the intricacies of special education.

Student Advocate

When a student requires special education services, they generally have an Individual Education Plan, or IEP. IEPs are developed with the input of teachers, counselors, healthcare providers, social workers school administrators and parents. The process isn’t always easy, and many parents find that they aren’t fully prepared to advocate for their child. That’s where a student or family advocate comes in. They serve as an objective third party for the family, putting their knowledge of the ins and outs of special education to work to ensure that the student receives all necessary services and that the IEP is thorough and effective. Most student advocates work on a freelance or contract basis and have at least a few years of experience working in a school or program before they become an advocate.

Early Intervention Specialist

Some children present signs of cognitive or physical delays or disabilities early in life – sometimes as early as infancy. Early intervention specialists work with infants, toddlers and preschoolers to deliver interventions that will have a positive effect on their growth and development. Early intervention specialists often work with social workers and medical providers to provide services in the home, medical setting or a center or classroom. This role also requires a great deal of patience, as well as a thorough understanding of child development and developmental milestones.

Special Education Diagnostician

For many children, [Read more…] about 5 Things You Can Do with a Degree in Special Education

May Unemployment Lowest Since 2000

June 2, 2018 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of May on Friday June 1^st .

According to the BLS the Seasonally Adjusted U-3 Unemployment Rate is at a new low. Unemployment has been falling and has now reached levels not seen since April of 2000. Current levels are even lower than during the boom of 2006. If they drop another 1/10^th of a percent we will have to go all the way back to 1969 to find levels that low.

Many Experts consider this to be the new “Full Employment” level i.e. everyone who wants a job has found one however with the Labor Force Participation rate still well below the average that is debatable. See Is the U.S. Really at “Full Employment”? for more information.

Key May Employment and Unemployment Numbers

Adjusted U-3 Unemployment- May 3.8% Down from 3.9% in April and 4.1% October – March.
Unadjusted U-3 Unemployment- May 3.6% down from 3.7% in April and 4.1% in March.
Unadjusted U-6 Unemployment- May 7.3% Down from 7.4% in April and from 8.1% in March and 8.6% in February.
Employment 149.309 million up from 148.367 million in April and 147.369 million in March.
Gallup has discontinued publishing U-6 & U-3 numbers.

See Current Unemployment Chart for more info.

Employment by Sector

The employment “bubble chart” gives us a good representation of how each sector of the economy is doing (employment wise). As we can see from the chart below only one sector is to the left of the zero line this month indicating that all other sectors gained employees except Utilities which lost -1,100 employees. The big gainers were Education and Health, Professional and business Services, Construction, Leisure and Manufacturing.

The biggest gainer was Education and Health Services (bubble furthest to the right) which added 39,000+ jobs, followed by Retail and Professional Services which each gained roughly 31,000 jobs, Leisure gained 21,000 jobs and manufacturing gained another 18,000 on top of consistently high gains for the last few months. Average weekly earnings for all industries increased to $928.74.

(See the table below the chart for average weekly earnings and other details.)

How to read this chart:

Bubbles location on the chart tell us two things:

Change in Employment Levels over the most recent month.
Average Weekly earnings.
The further to the right the bubble the larger the increase in the number of jobs.
The higher up on the chart the larger the average salary.

Bubble Size tells us:

Total Employment for the sector.
Larger bubbles mean more people are employed in that sector.

Employment and Average Weekly Earnings by Industry for All Employees

May 2018, Seasonally Adjusted

Industry	Monthly Increase	Average Weekly Earnings	Employment Level
Total Private Employment	218,000	$928.74	126,336,000
Mining and Logging	4,000	$1,500.09	733,000
Construction	25,000	$1,174.14	7,210,000
Manufacturing	18,000	$1,097.52	12,673,000
Wholesale trade	4,200	$1,189.81	5,954,800
Retail trade	31,100	$579.70	15,970,300
Transportation and Warehousing	18,700	$940.41	5,309,300
Utilities	-1,100	$1,689.89	554,400
Information	6,000	$1,418.40	2,775,000
Financial Activities	8,000	$1,303.88	8,559,000
Professional and Business Services	31,000	$1,164.92	20,891,000
Education and Health Services	39,000	$887.70	23,563,000
Leisure and Hospitality	21,000	$413.95	16,281,000
Other Services	13,000	$772.53	5,862,000

5 Business and Part-Time Employment Ideas for College Students

May 22, 2018 by Tim McMahon

College students can take advantage of the free hours, the weekends and holidays to start a small business. As a young entrepreneur, you will get some extra cash to sustain your lifestyle and reduce the amount you need to borrow on student loans. Additionally, you get to learn new skills that can be helpful once you graduate. For some students, working while studying is solely for the purpose of paying bills whereas for others it’s the foundation of their full-time employment. Regardless of the motive, a small business venture is an opportunity to learn, earn and contribute to the growth of the economy. Some of the ideas you should consider as a student include:

Affiliate Marketing

Affiliate marketing is an easy business for students because you don’t require stock to get started. You simply get paid for referring people to sellers. You can be an affiliate for both products and services. Products can be promoted through a website, social media, email and YouTube. However, be sure to check if [Read more…] about 5 Business and Part-Time Employment Ideas for College Students

Looking Into Career Options? A Brief Overview of the Biotechnology Industry

May 15, 2018 by Tim McMahon

When many people hear the word biotechnology, they may think about cloning. But according to Wikipedia:

Biotechnology is the use of living systems and organisms to develop or make products, or “any technological application that uses biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use”… Depending on the tools and applications, it often overlaps with the (related) fields of bioengineering, biomedical engineering, biomanufacturing, molecular engineering, etc.

For thousands of years, humankind has used biotechnology in agriculture, food production, and medicine. The term is largely believed to have been coined in 1919 by Hungarian engineer Károly Ereky. In the late 20th and early 21st centuries, biotechnology has expanded to include new and diverse sciences such as genomics, recombinant gene techniques, applied immunology, and development of pharmaceutical therapies and diagnostic tests.

Here are some of the options that biotechnology encompasses if you’re considering a career in this industry. [Read more…] about Looking Into Career Options? A Brief Overview of the Biotechnology Industry

April Unemployment Lowest Level Since 2000

May 5, 2018 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of April on Friday May 4^th .

At 3.9% the Seasonally Adjusted U-3 Unemployment Rate is at its lowest level since December 2000. The Unadjusted U-3 is at 3.7%.

Key April Employment and Unemployment Numbers

Adjusted U-3 Unemployment- 3.9% Down from 4.1% October – March.
Unadjusted U-3 Unemployment- 3.7% down from 4.1% in March.
Unadjusted U-6 Unemployment- 7.4% Down massively from 8.1% in March and 8.6% in February.
Employment 148.367 million up from 147.369 million in March but still below the 148.783 million in November.
Gallup has discontinued publishing U-6 & U-3 numbers.

See Current Unemployment Chart for more info.

Employment by Sector

The employment “bubble chart” gives us a good representation of how each sector of the economy is doing (employment wise). As we can see from the chart below only one sector is to the left of the zero line this month indicating that all other sectors gained employees in April except Wholesale Trade which lost -9,800 employees on a “Seasonally Adjusted” basis.

The biggest gainers were Professional and Business Services (bubble furthest to the right) which added 54,000 jobs, followed by Education and Health Services which gained 31,000 jobs and Manufacturing which gained 24,000 jobs. Interestingly all three were the top gainers last month as well with similar gains. Average weekly earnings for all industries increased from $925.29 to $925.98.

(See the table below the chart for average weekly earnings and other details.)

How to read this chart:

Bubbles location on the chart tell us two things:

Change in Employment Levels over the most recent month.
Average Weekly earnings.
The further to the right the bubble the larger the increase in the number of jobs.
The higher up on the chart the larger the average salary.

Bubble Size tells us:

Total Employment for the sector.
Larger bubbles mean more people are employed in that sector.

Employment and Average Weekly Earnings by Industry for All Employees

April 2018, Seasonally Adjusted

Industry	Monthly Increase	Average Weekly Earnings	Employment Level
Total Private Employment	168,000	$925.98	126,106,000
Mining and Logging	8,000	$1,483.82	730,000
Construction	17,000	$1,170.39	7,174,000
Manufacturing	24,000	$1,106.00	12,655,000
Wholesale trade	-9,800	$1,176.34	5,952,700
Retail trade	1,800	$575.67	15,927,000
Transportation and Warehousing	400	$943.71	5,285,400
Utilities	1,000	$1,698.31	555,300
Information	7,000	$1,416.93	2,772,000
Financial Activities	2,000	$1,285.92	8,549,000
Professional and Business Services	54,000	$1,166.73	20,869,000
Education and Health Services	31,000	$884.40	23,517,000
Leisure and Hospitality	18,000	$413.16	16,272,000
Other Services	14,000	$773.69	5,848,000

U-6 Unemployment

Looking at the broader measure of Unemployment which includes discouraged workers, we see that the U-6 unemployment rate fell steadily from 8.9% in January to 7.4% in April.

See Unadjusted U-6 unemployment for more info.

Employment

Over the last month, the actual number of people working (not seasonally adjusted) has increased by 998,000 jobs in April. The BLS Commissioner said:

“Nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent. Over the month, job gains occurred in professional and business services, manufacturing, health care, and mining.“

Actual employment was 147.369 million in March and 148.367 million in April for an actual increase of 998,000 not the 164,000 spoken of by the Commissioner. The 164,000 is “Seasonally Adjusted” meaning that employment increased by that much more than average for this time of year.

See Employment Commentary.

Employment / Population Ratio

If you take the number of jobs and divide it by the population you get what percentage of the population is working. You

March Employment Tops 147 Million

April 7, 2018 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of March on Friday April 6^th .

According to the BLS the Seasonally Adjusted U-3 Unemployment Rate is unchanged for the 6^th month in a row. So from October through March the Seasonally Adjusted Unemployment rate has been 4.1%. This month the unadjusted U-3 was also 4.1%.

Key March Employment and Unemployment Numbers

Adjusted U-3 Unemployment- 4.1% unchanged since October.
Unadjusted U-3 Unemployment- 4.1% down from 4.4% February.
Unadjusted U-6 Unemployment- 8.1% down from 8.6% in February.
Employment 147,332 million up from 146.667 million in February and 145.473 million in January but down from 148.346 million in December and 148.526 million in November.
Gallup has discontinued publishing U-6 & U-3 numbers.

See Current Unemployment Chart for more info.

Employment by Sector

The employment “bubble chart” gives us a good representation of how each sector of the economy is doing (employment wise). As we can see from the chart below three sectors are to the left of the zero line this month indicating that all other sectors gained employees in March except Construction which lost -15,000 employees, Retail which lost -4,400 employees, and “Other Services” which lost -1,000 employees on a “Seasonally Adjusted” basis.

The biggest gainer was Professional and Business Services (bubble furthest to the right) which added 33,000 jobs, followed by Education and Health Services which gained 25,000 jobs and Manufacturing which gained 22,000 jobs on top of last months 31,000 manufacturing jobs gained. Average weekly earnings for all industries increased from $922.88 to $925.29.

(See the table below the chart for average weekly earnings and other details.)

How to read this chart:

Bubbles location on the chart tell us two things:

Change in Employment Levels over the most recent month.
Average Weekly earnings.
The further to the right the bubble the larger the increase in the number of jobs.
The higher up on the chart the larger the average salary.

Bubble Size tells us:

Total Employment for the sector.
Larger bubbles mean more people are employed in that sector.

Employment and Average Weekly Earnings by Industry for All Employees

March 2018, Seasonally Adjusted

Industry	Monthly Increase	Average Weekly Earnings	Employment Level
Total Private Employment	102,000	$925.29	125,904,000
Mining and Logging	8,000	$1,501.44	722,000
Construction	-15,000	$1,153.66	7,150,000
Manufacturing	22,000	$1,098.57	12,632,000
Wholesale trade	11,400	$1,178.97	5,967,300
Retail trade	-4,400	$576.58	15,915,900
Transportation and Warehousing	9,800	$942.35	5,279,300
Utilities	4,000	$1,674.74	559,000
Information	2,000	$1,410.43	2,760,000
Financial Activities	2,000	$1,297.20	8,546,000
Professional and Business Services	33,000	$1,162.42	20,803,000
Education and Health Services	25,000	$882.38	23,483,000
Leisure and Hospitality	5,000	$412.64	16,256,000
Other Services	-1,000	$770.31	5,830,000

U-6 Unemployment

Looking at the broader measure of Unemployment which includes discouraged workers, we see that the U-6 unemployment rate fell from 8.9% in January to 8.6% in February and fell further to 8.1% in March.

See Unadjusted U-6 unemployment for more info.

Employment

Over the last month, the actual number of people working (not seasonally adjusted) has increased by 665,000 jobs in March. The BLS Commissioner said:“ Nonfarm payroll employment edged up by 103,000 in March, following a large gain in February (+326,000)…

Over the month, job gains occurred in manufacturing, health care, and mining… Manufacturing employment rose by 22,000… Employment in health care increased by 22,000 in March and has grown by 304,000 over the year…. Mining employment rose by 9,000… Employment in professional and business services continued to trend up in March (+33,000). Over the year, employment in the industry has increased by 502,000, with gains distributed across most of the component industries.” [Read more…] about March Employment Tops 147 Million

California at 4.3% has Lowest Unemployment Since 1976

March 27, 2018 by Tim McMahon

According to the U.S. Bureau of Labor Statistics’ most recent unemployment data broken down by state (released in March for the month of February), Hawaii had the lowest unemployment at 2.1% followed by North Dakota and New Hampshire at 2.6%. Vermont and Nebraska were also at 2.8%.

The rates in California (4.3%), Maine (2.9%), Mississippi (4.5%), and Wisconsin (2.9%) set new series lows. (All state series begin in 1976.)

Although not technically a state, Puerto Rico had the highest jobless rate at 10.6% followed by Alaska at 7.3% while New Mexico had 5.8%, the District of Columbia had 5.7% and West Virginia had 5.4%.

The following table lists the [Read more…] about California at 4.3% has Lowest Unemployment Since 1976

5 Career Choices That Can Lead to Financial Stability

March 19, 2018 by Tim McMahon

When looking for a career to pursue, finding one that can provide you with a comfortable living should at least be part of your consideration. For those that are looking for a job that pays well, here are five different career choices and paths that could help you achieve financial stability.

Medical Field

While the medical field has been impacted by changes in the insurance agency and a variety of other factors, it still provides great earning potential. For those that are willing to put in the work that comes with medical school and residency, becoming a physician or surgeon can be a great option. Physicians routinely earn over $200,000 per year and surgeons earn well over $300,000 per year. Other healthcare occupations that you might consider are: Athletic Trainers $45,630/yr and only require a Bachelor’s Degree. Dental Hygienists $72,910/yr Associates Degree, Diagnostic Medical Sonographers $64,280/yr. Associates Degree, Dietitians and Nutritionists $58,920/yr. Bachelor’s degree, Occupational Therapists $81,910/yr. Master’s degree. See the Bureau of Labor Statistics full list of Medical/Healthcare Professions.

Accounting

Another career path that could provide you with [Read more…] about 5 Career Choices That Can Lead to Financial Stability