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+.

Job Search Scams

May 25, 2012 by Tim McMahon

Unfortunately, the economy and job situations are suffering. When times are hard, unemployment is high and people are desperate, this is the perfect opportunity for others to take advantage of you. Some scams include stealing form your account to having you work for one day and then firing you. An example is a company looking for a ‘marketing rep’ calls you once you apply for the position. They tell you they want you to come in immediately. They make it a big deal and say that there are many candidates and they want to make a decision fast. Once they get you into the office, they complete the interview and tell you that you are great and to come back for a second interview. This second interview requires you to ride along with a salesman ‘to get a better idea’, four hours later you are helping him go , door to door. Once you realize this is not what you want to do it’s too late. You just worked for free.

So before you apply for a job, attend an interview or accept a job review these tips to prevent being a victim of a job scam.

The Online Business Scam:

Job Seekers Awaiting Their Turns Patiently—jobsdbmalaysia (Flickr.com)

A job scam can be found anywhere; however scammers find it easiest to find their victims online. Online job boards don’t have many filters and that means scammers can get away with more. Large job sites like Monster.com and Indeed.comtry their best to monitor but are not always able to keep up with new scams.

This is why it is important when you search online to keep in mind: [Read more…] about Job Search Scams

What is Co-Insurance?

May 23, 2012 by Tim McMahon

CoInsurance: Definition

Coinsurance is a tricky term to define because it can mean different things depending on which type of insurance you are talking about. It is most commonly used in health insurance and commonly means the percentage of the total health care bill that you as the insured will have to pay. In other words you are responsible for a portion and the insurance company is responsible for a portion. You are both co-insuring against the cost of health care.

Of course it is not a straight percentage. If you have an 80/20% coinsurance clause in your health insurance policy that means that after your deductible has been met you owe 20% of the bill while the insurer will cover 80%. But then there is an Out-of-Pocket Maximum that limits your liability.

So in a way, [Read more…] about What is Co-Insurance?

Social Media Marketing Consultants Needed

May 18, 2012 by Tim McMahon

By Tim McMahon, editor

Social Media Marketing Consultants

Social Media Marketing is a new field and just as happened in other new fields like web designers 15 years ago, companies are scrambling to find qualified people to perform this valuable service for them. This is truly an opportunity to get in on the ground floor of a budding industry and make a name for yourself and carve out a lucrative career before others catch on.

What is Social Media Marketing?

Social media marketing is a relatively new method of promoting businesses via social media platforms and finding customers and ensuring customer satisfaction after you’ve found them. Companies are increasingly realizing how important happy customers are and that it is much more profitable to retain existing customers than to constantly look for new ones. Today, social media is not just used for finding long-lost colleagues or old High School friends on Facebook; or Tweeting about what you had for lunch on Twitter. Social media has turned out to be an important tool for businesses that want to create a successful online presence. As more and more people are using social media to search for the products they like, social media marketing has become a regular part of daily business transactions and businesses have discovered social media as a method to reach their target consumers and establish a pleasant brand experience online.

As a result, smart companies are shifting a part of their marketing dollars to social media. Large companies like Proctor & Gamble, Taco Bell, and Pepsi are budgeting huge amounts of money to manage brand perception and promote their products via social media. And in the process, they are creating the demand for thousands of Social Media Managers and Marketing Consultants.

So what do Social Media Marketing Consultants do?

Tap Into the Conversation

If an organization wants to find out the “chatter” in the marketplace about a particular product, they need to check the social media platforms such as Twitter and Facebook in order to see what prospective customers think about the brand. Social Media Marketing Consultants have their fingers on the pulse of the community. They monitor the chatter and set up alerts related to keywords pertaining to the brand they are monitoring. By tapping into this network and spreading the word Social Media Marketing Consultants can quickly spread the good word or defuse bad chatter from dissatisfied customers.

Spread the News

Social Media Marketing Consultants will often spread interactive online content, in relation to the commodity that’s being launched. For example if Pepsi wants to launch a new soft-drink it might create a game or a contest related to the new product to create a buzz around it with the hopes of it going viral and creating positive word-of-mouth from influencers.

Perform Online Customer Service

If an online linked in Social Media person discovers a dissatisfied customer he or she will quickly step in to diffuse the situation and turn that dissatisfaction into an amazing customer experience. Smart companies are empowering their Social Media consultants to handle customer service issues quickly before they become media nightmares.

Employment vs. Unemployment

May 5, 2012 by Tim McMahon

Employment – Unemployment

Employment vs. unemployment… You would think that they are two sides of the same coin. But when it comes to government stats they may not be.

The government uses two entirely different surveys to calculate Employment and Unemployment and as we will see since 2010 they have started to paint entirely different pictures. A few days ago we looked at how an independent organization (Gallup poles) is now tracking unemployment rates and how the government numbers appear to be understating the level of unemployment. Today we will look at the government’s own numbers and how they don’t even agree with each other… giving more evidence that the government is slanting the data. [Read more…] about Employment vs. Unemployment

Tips for Landing a Job with No Experience

April 23, 2012 by Tim McMahon

How Can You Get a Job With No Experience?

Landing a job in today’s economy certainly is a challenge. There are so many highly qualified and experienced candidates out there that it can be nearly impossible for a recent college graduate or an individual with no job experience to break into the profession they desire.

Recently, job hunters have been bombarded with statistics and statements about the dismal state of the job economy—unemployment was recently at an all-time high, jobs are still scarce, and with graduates willing to accept lower level jobs, college degrees are losing their potency in the professional world.

For any job hunter out there, this can be an exhausting and frightening atmosphere to set foot in. But, this is how landing a job works. You have to put your foot forward and your head on the line. Oftentimes, job hopefuls find themselves in a bit of a conundrum. Employers are looking for candidates with experience, but candidates can’t get that experience until they land the job. While this is no doubt a challenge, there are many ways to display the expertise and skillset required for a job without having the specific job experience. Try these three techniques to help land a job without any relevant experience. [Read more…] about Tips for Landing a Job with No Experience

Top Paying Jobs

April 5, 2012 by Tim McMahon

On March 29th 2012, the U.S. Bureau of Labor Statistics (BLS) released their newest update of the Occupational Outlook Handbook which provides profiles for hundreds of different occupations including job descriptions, median pay, education necessary, number of jobs in the U.S., and even job outlook for the decade from 2010 – 2020. A couple of days ago, we looked at those jobs that the BLS estimated to have the largest number of new jobs created during the 2010 -2020 decade. Unfortunately, we found that 13 out of the top most prevalent jobs were low paying positions like fast food preparation or daycare workers. So, yesterday we looked at the BLS list of Fastest Growing Occupations although we found some overlap in the positions of the fastest growing vs. the most plentiful, we found many more good paying jobs on the fastest growing list, in both the construction industry and the health care industry.

Today we are going to look at the top 20 highest paying positions. As you would expect these positions require a combination of high level skill, experience and education. Interestingly, of the top six, four are in the area of dental medicine with oral surgeons coming in first and orthodontists coming in second each earning over $166,400 per year. Unfortunately the BLS chart doesn’t break down the top few positions other than to say that it was over $166,400 per year but according to Salary.com – Oral Surgeons earn an average of $246,834 with 10% of Oral Surgeons earning over $290,802 per year. Salary.com estimates Orthodontists average less than the $166,400 the BLS says with the median salary of “only” $125,137 although the top 10% of earners earn more than $175,943.

The other top 18 paying positions are: [Read more…] about Top Paying Jobs

Fastest Growing Occupations

April 4, 2012 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) has released its list of the 20 fastest-growing occupations. As you would expect several are in the health services field, after all, those aging baby boomers are going to need health care. Yesterday we looked at the New Job Creation estimates in terms of pure numbers. In other words, which jobs would have the most new positions. Today we are going to look at which jobs are growing the fastest in terms of percentages.

As you would expect some positions are on both lists, like home health aides 69% growth and 706,300 new positions over the decade and personal care aides with 70% growth rate and 607,000 estimated new positions. Unfortunately, although both jobs are growing rapidly and will need hundreds of thousands of new people to fill all the positions, the average annual salary for both positions is only about $20,000 per year.

One high paying profession with a high growth rate is biomedical engineers with a 62% growth rate over the decade averaging $81,540 per year in 2010. The fourth, fifth and ninth fastest growing professions are in the building industry and all three are entry-level positions as a carpenter, brick mason and plumber – Helpers. These positions all pay in high $20,000’s and can lead to positions like the 19th fastest-growing position of brick mason and block mason which is estimated to grow by 41% over the decade and in 2010 paid an average of $46,930 per year. Other construction trades that made the list was reinforcing iron and rebar worker with a 49% growth rate over the decade and a 2010 average salary of $38,430 and glazier (glass installer) with a 42% growth rate and a $36,640 per year average salary.

Medical and related positions that are slated to grow are physical therapy assistants (46% growth and $49,690/yr.), physical therapists (39% and $76,310/yr.), physical therapy aides (43% and $23,680/yr.), diagnostic medical sonographers (44% and $64,380/yr.), occupational therapy assistants (43% and $51,010/yr.), medical secretaries (41% and $30,530/yr.), marriage and family therapists (41% and $30,530/yr.) and even veterinary technologist positions are expected to grow 52% over the decade and average pay in 2010 was $29,710.

Other fast-growing positions are expected to be interpreters and translators with 42% growth expected and an average salary in 2010 of $43,300. Also, meeting, convention, and event planners are expected to grow by 44% and earned $45,260 per year in 2010. So if you are looking for a higher paying job it may pay to look at fastest-growing jobs rather than jobs with the most potential vacancies.

One job that is so new the Bureau of Labor Statistics isn’t even tracking it yet is that of a Social Media Manager. This position is rapidly growing as companies jump on the Social Media bandwagon. If you enjoy using social media like Facebook and Twitter your skills are in demand. You can help companies with their Facebook and Twitter by monitoring online communications and making companies more “personal”. Find out more about how you can become a Social Media Manager.

BLS Issues New Job Creation Estimates

April 3, 2012 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) has just released its latest revision of its annual Occupational Outlook Handbook (OOH). This is a great resource for those interested in changing jobs or for students trying to decide on a career. The OOH lists job descriptions, average salaries and estimates of the number of new jobs that will be created between 2010 and 2020. Obviously when choosing a new career it is best to be in a position that has increasing demand rather than finding yourself in an industry such as buggy whip maker where finding a job becomes increasingly difficult. If your position is in demand and supply is tight the natural progression will be increasing salaries, bigger signing bonuses and more benefits as companies compete for the limited number of candidates available.

According to the most recent data from the BLS, many of the new positions with the best salaries are in the health care arena, which makes sense in a time of aging Baby Boomers. For instance the number one position with the greatest increase in demand is for Registered Nurses. The BLS estimates 711,900 new nurses will be needed during the decade between 2010 and 2020. Plus, the salary of registered nurses is the highest of any of the top 20 growth positions with a median annual salary in 2010 of $64,690.

Click for Larger Image

Unfortunately, many of the other growth positions are [Read more…] about BLS Issues New Job Creation Estimates

Internships Can Help

March 31, 2012 by Tim McMahon

As a student or someone with limited job experience internships can be a wonderful way to gain experience and get your foot in the door even if you initially work for free. In medieval times finding a job was easier. If your father had a profession you were expected to take over the family business and go into that profession. However, if the family had too many sons or didn’t have a family profession the youngster (often at the age of 13 or younger) could become an apprentice to a professional in need of some help. The young apprentice would be given the most menial of tasks, starting with sweeping up the shop or doing other tasks that the “master” didn’t want to do. Then slowly he would be given increasing responsibilities until by the age of 18 he would be able to perform the vast majority of what the master could do. This system of training worked well and even Benjamin Franklin was an apprentice in a printing shop.

Today we send our children to school where hopefully they will learn to read and write and eventually get into college. Once they graduate they are on their own but depending on their major they may not have a single marketable skill. After all, how much demand is there for underwater basket weavers, or psychology majors? Even if you major in a profession like engineering or drafting where there is a defined job path it is often difficult to break in to the profession without any experience. And that is where internships come in. [Read more…] about Internships Can Help

How U.S. Unemployment Rates Compare to other OECD Countries

March 16, 2012 by Tim McMahon

Unemployment rates in the U.S. in January were 8.3%
See: Unemployment Rate Chart
Which is very similar to the average Unemployment rate in other OECD countries. The OECD area average unemployment rate was 8.2% in January 2012, having remained basically unchanged throughout 2011. The Euro area was significantly higher at 10.7% reaching a record high since the start of the global financial crisis. It has continued to move higher since June 2011 while the U.S. has decreased from 9.1% to 8.3% during the same period.

Austria remains lower than the rest of the Euro area (and the U.S.) with an unemployment rate of 4.0%, Luxembourg has a rate of 5.1% and Germany has 5.8% compared to other Euro area countries like the Slovak Republic at 13.3%, Slovenia 8.2% and Finland 7.5%. The dubious honor of the highest unemployment rate in the OECD goes to Spain with an unemployment rate of 23.3%.

Among non-European OECD countries, the unemployment rate fell slightly in Australia (to 5.1%), Mexico (to 4.8%) while it increased slightly in Japan (to 4.6%) and Korea (to 3.2%).

New data for February 2012 show that the unemployment rate for the United States was stable at a seasonally adjusted 8.3% (following five consecutive monthly declines) while it fell by 0.2 percentage point in Canada (to 7.4%).

Unadjusted U-3 unemployment in the U.S. in February was 8.7%
See: U-6 Unemployment Rate for information on the broader unemployment rate calculation.