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+.

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%.

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 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

U3 vs U6 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)…

Historical Employment

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

February Employment UP – Unemployment Down

March 10, 2018 by Tim McMahon

On Friday March 9^th the U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of February.

According to the BLS the Seasonally Adjusted U-3 Unemployment Rate for February is unchanged for the 5th month in a row. That’s right from October through February the Seasonally Adjusted Unemployment rate has been 4.1%.

This is a very low level and we really don’t expect it to get too much lower.

Key February Employment and Unemployment Numbers

Adjusted U-3 Unemployment- 4.1% unchanged since October.
Unadjusted U-3 Unemployment- 4.4% down from 4.5% January.
Unadjusted U-6 Unemployment- 8.6% down from 8.9% in January.
Employment 146.696 million up from 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 the only sector to the left of the zero line is Information meaning that all other sectors gained employees in February except information which lost -12,000 employees on a “Seasonally Adjusted” basis.

The biggest gainer was construction (bubble furthest to the right) which added 61,000 jobs, followed by Retail Trade which gained 50,300 jobs and Professional and Business Services which gained 50,000 jobs even manufacturing gained 31,000 jobs. (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

February 2018, Seasonally Adjusted

Industry	Monthly Increase	Average Weekly Earnings	Employment Level
Total Private Employment	287,000	$922.88	125,819,000
Mining and Logging	8,000	$1,485.78	713,000
Construction	61,000	$1,158.17	7,173,000
Manufacturing	31,000	$1,100.03	12,614,000
Wholesale trade	5,800	$1,185.12	5,956,200
Retail trade	50,300	$572.55	15,926,200
Transportation and Warehousing	15,400	$940.60	5,263,400
Utilities	1,200	$1,658.82	553,400
Information	-12,000	$1,418.40	2,748,000
Financial Activities	28,000	$1,290.81	8,547,000
Professional and Business Services	50,000	$1,161.30	20,760,000
Education and Health Services	23,000	$882.75	23,466,000
Leisure and Hospitality	16,000	$410.81	16,262,000
Other Services	10,000	$768.73	5,837,000

U-6 Unemployment

Looking at the broader measure of Unemployment which includes discouraged workers, we see that the U-6 unemployment rate fell from 10.1% in January to 9.5% in 2017 and from 8.9% to 8.6% in 2018.

From the table at the left we can also see that U-6 unemployment went from 9.2% in October 2016 to 7.6% in 2017.

Similarly it fell from 9.0% in November 2016 to 7.7% in 2017 and from 9.1% in December 2016 to 8.0% in 2017.

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 [Read more…] about February Employment UP – Unemployment Down

Work Got You Down? 4 Steps to Making a Career Change

February 20, 2018 by Tim McMahon

If you are not enjoying the work you do, it’s harder to be productive as the minutes drag by… feeling like hours. Are you miserable in your current profession and want a change? Perhaps you want to earn more money or move your career to the next level. A career change might sound daunting, but in the long run can be worth it. These four steps will get you started on the path to a career change.

Research Possible Careers

Some people already have a new career in mind. It might be something they have always wanted to do or related to a field that has interested them for years. However, most people still need to narrow down their list to just one. Research is vital when considering a new career because you want to make sure you are choosing the right one. One of the best places to research new career options is the Bureau of Labor Statistics. Look up how many people work in the profession, whether the industry is going to grow or shrink, and even the job turnover rate.

Job Shadowing or Information Gathering

Once you have done your proper research, it is important to learn as much about the career field as possible. You can arrange to interview those you already know work in the industry, or you can even reach out to people who have worked in it before. Social media is a great way to meet possible interviewees. You might even be able to [Read more…] about Work Got You Down? 4 Steps to Making a Career Change

Hard Day’s Work: 4 Ways to Prepare for Working a Construction Job

February 7, 2018 by Tim McMahon

Working a construction job is a great way to apply your skills, stay fit, and enjoy a solid income. But it can also be dangerous if you aren’t properly prepared. Here are a few easy preparations, so you can be sure that the time you give to your trade will be safe, worthwhile and effective.

Have the Right Gear

A construction site offers a unique set of physical characteristics that require the right gear to effectively accommodate. For you, this may mean a pair of steel-toed boots to protect your feet, a hard hat to protect your head, or rain gear to ensure you stay dry and comfortable in case it starts raining. An interesting quote from Ben’s Cleaner Sales says “When your job requires you and your employees to work with pressure washers or outside during the rain, you want quality rain equipment to keep you dry. When you are dry and comfortable, you are more productive… Plus, most of our rain gear is brightly colored and equipped with reflective stripes for safety.” So it is important to remember that when the weather is bad visibility is also lower, so the addition of bright colors and reflective materials can also improve your safety.

You must keep in mind that you may be exposed to the elements up to your entire workday, so you need to dress to ensure you remain comfortable if that ends up being the case. If it’s cold, dress in layers so you can shed layers as you heat up while performing work. If it’s warm, wear clothing that will wick sweat away from your body so you don’t end up with wet, uncomfortable clothes all day. Two critical pieces of personal equipment you should have are construction boots and a reflective vest. Simply by wearing these to a construction site you show the job foreman that you are serious and ready to work.

Study up

If this is your first time working in the construction industry, being able to understand what’s being asked from you, right from the start, will help you reach greater heights in the industry. Know specific terminology that is used in your field, and understand how to use the tools of your specific trade. Two certifications that you can easily get are your OSHA 10 certification and your “Flagman” certification as you’ll see in this video these two certifications will take you a total of 14 hours to get and will go a long way toward getting your foot in the door of the construction industry.

Over time you will certainly improve in all these areas through daily exposure and hands-on learning, but if you don’t know much when you show up to a job site, the learning curve is going to be difficult and potentially dangerous.

Get Enough Sleep

Since your safety and the safety of others on the job site depend on [Read more…] about Hard Day’s Work: 4 Ways to Prepare for Working a Construction Job

January Unemployment Almost “Record Setting”

February 3, 2018 by Tim McMahon

January Unemployment is almost record setting… but not for the reason you might think.

On Friday February 2^nd the U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of January. According to the BLS the Seasonally Adjusted U-3 Unemployment Rate for January is unchanged for the almost record setting 4th month in a row. That’s right from October through January the Seasonally Adjusted Unemployment rate has been 4.1%. This is a very low level and we really don’t expect it to get too much lower but the interesting part is that the unadjusted U-3 was 3.9% from October through December (resulting in the adjusted rate being 4.1%) but then in January the unadjusted rate jumped to 4.5% (a 0.6% increase) and the adjusted U-3 remained the same at 4.1%. This is because typically January sees an uptick in unemployment as all the seasonal employees get laid-off. So we would expect some sort of uptick in unadjusted unemployment rate. But because the Seasonally Adjusted U3 was unchanged for the month the current increase in the unadjusted U-3 was actually no greater or less than normal. See Current Unemployment Chart for more info.

U-6 Unemployment

Over the same period, Unadjusted U-6 unemployment which is a broader measure of Unemployment including discouraged workers, climbed steadily.

It was 7.6% in October, then 7.7% in November, then 8.0% in December, and finally 8.9% in January.

This is still significantly better than a year ago when in November 2016 Unadjusted U-6 was 9% and had climbed to 10.1% by January 2017.

See Unadjusted U-6 unemployment for more info.

Employment

Over the last month, the actual number of people working (not seasonally adjusted) has decreased by [Read more…] about January Unemployment Almost “Record Setting”