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+.

Want to Go Into Trucking? 5 Things to Know Beforehand

February 16, 2024 by Tim McMahon

The trucking industry is an essential part of our economy, and it requires hard-working individuals to keep it moving. If you’re considering getting into the trucking industry, congratulations! You’re taking your first step toward a rewarding career. However, there are some things that you should know before you dive headfirst into the trucking world. In this article, we’ll be discussing the top things you need to know before getting started in the trucking industry. Let’s get started!

Types of Trucking

There are a variety of different types of truck driving depending on the type of truck, whether it is local or long-haul, and the type of load carried.

According to Indeed:

Flat Bed Drivers earn an average of $60,049/yr. and carry equipment or other machinery that wouldn’t otherwise fit in a trailer.
Less-than-truckload (LTL) drivers handle smaller loads or shipments. They earn an average of $61,613/yr.
Refrigerated freight drivers, or reefer drivers, transport goods that require a specific temperature and earn $61,879/yr.
Over-the-road (OTR) truck drivers deliver larger amounts of goods in bigger trucks, including tractor-trailers and earn an average of $78,113/yr.
Tanker drivers transport gases or liquids, either long or short distances, may require special training and earn $88,918/yr.
Team drivers work with another driver to complete national or even cross-border hauls and earn an average of $105,789/yr.

Other variations include Intermodal Trucking which involves delivering containers that are simply dropped on a flat-bed truck. There is also Hot Shot trucking which involves hauling smaller, more time-sensitive loads within a specific timeframe, and usually to a single customer or location. You can be an “owner-operator” or work for a big or small company. There are also furniture movers, local delivery drivers, and hazardous material haulers, among others. [Read more…] about Want to Go Into Trucking? 5 Things to Know Beforehand

January Employment Declines, Adjusted Unemployment Flat

February 3, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for January on February 2^nd,2024.

Employment / Unemployment

Adjusted U-3 was 3.7% unchanged since November
Unadjusted U-3 was 4.1% up from 3.5% in December
Unadjusted U-6 was 8.0% Up from 6.7% in November and 7.0% in December
Labor Force Participation was 62.5% unchanged from December but down from 62.8% in November
Unadjusted Employment fell from 158.261 million to 155.626 million

Summary:
Seasonally Adjusted Employment rose but actual employment decreased in January, Labor Force Participation was unchanged, Seasonal Adjustment indicates employment decline is normal for this time of year.

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

“Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate
remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in professional and business services, health care, retail trade, and social
assistance. Employment declined in the mining, quarrying, and oil and gas extraction
industry…”

“In January, the unemployment rate was 3.7 percent for the third month in a row, and
the number of unemployed people was little changed at 6.1 million…”

“The number of long-term unemployed (those jobless for 27 weeks or more), at 1.3 million,
was little changed in January. The long-term unemployed accounted for 20.8 percent of all unemployed people.”

As usual, they are talking about “Seasonally Adjusted Jobs”.

Looking at the Unadjusted Establishment Survey report we see…
Originally the BLS reported employment of 158.228 million for December which they adjusted to 158.261 million in January (for a gain of 33,000 jobs). They are currently reporting 155.626 million jobs for January which is actually a loss of -2,602,000 jobs compared to their original numbers. But January typically loses about this many jobs, so the seasonally adjusted unemployment rate stayed the same.

BLS Source

Current Unemployment Rate Chart

Seasonally Adjusted Unemployment is slightly above the pre-COVID 2019 cyclical lows of 3.5% as well as above the lows made early in 2023. Current levels are still within the “Green Zone”.

Veterans Wanted | 6 Trades Veterans Can Excel In

January 25, 2024 by Tim McMahon

After serving your country as a veteran, transitioning to civilian life and finding meaningful employment can be challenging. But being a veteran makes you uniquely qualified for certain types of jobs. Your skills, work ethic, and dedication make you perfect for many trades and businesses.

In this post, we’re going to highlight six trades or businesses any veteran can excel in. These industries capitalize on your experience, discipline, and dedication to serve—both in the military and in civilian life. So, whether you’re a recent veteran or have been out of the service for a few years, read on to find a career path that suits you. Let’s get started!

Emergency Services

Emergency services, like EMT and fire service, are military-style operations. They require teamwork, quick thinking, and tremendous attention to detail. Veterans who can think on their feet and thrive in high-pressure environments make excellent first responders. You can quickly transition to a career in emergency services as both careers require a sense of service and require that you put the good of the community over the good of yourself.

If you’re interested in pursuing a career in emergency services, there are several steps you can take to make yourself more competitive for the job. First, ensure that your resume highlights any relevant experience or skills from your time in the military such as first aid training, combat lifesaver certification, or leadership roles. According to the U.S. Bureau of Labor Statistics (BLS) The median annual wage for emergency medical technicians was $36,680 in May 2022. while the median annual wage for paramedics was $49,090. The median annual wage for firefighters was $51,680. and for F ire Inspe ctors was $65,800.

You may also consider obtaining certifications specific to the field such as CPR, Emergency Medical Technician (EMT), or Firefighter I and II certifications. Networking with current or former emergency service personnel can also provide valuable insight and potential job opportunities, so don’t hesitate to get out there and connect.

Construction

Construction work requires a soldier’s mindset, including attention to detail, hard work, and discipline. Veterans can apply the leadership skills they learned during their military career and bring them to construction sites where teamwork is a core component. Whether on a building site or in maintenance, veterans’ physical stamina and attention to detail are huge assets to any construction team. [Read more…] about Veterans Wanted | 6 Trades Veterans Can Excel In

Find Your Calling: Fantastic Career Ideas in the Medical Field

January 15, 2024 by Tim McMahon

The medical field is vast and encompasses a range of career opportunities. Most people tend to think of medicine in terms of becoming a doctor, but there are so many other career paths to explore. If you’re interested in working in healthcare but don’t want to be a physician, this article is for you. Here are some career ideas in the medical field that you may not have considered.

Medical Coder or Biller

Medical Records Specialist — Image Courtesy of Bureau of Labor Statistics

A medical coder or biller ensures that healthcare providers get paid for their services by insurance companies and patients. They translate medical diagnoses and procedures into codes that are used for billing and reimbursement purposes.

To become a medical coder or biller, you typically need to complete a postsecondary certificate program or an associate’s degree. These programs provide training in medical terminology, coding systems, and billing procedures. You may also need to obtain certification through organizations such as the American Academy of Professional Coders (AAPC) or the American Health Information Management Association (AHIMA). This career path is ideal for those who have strong attention to detail, enjoy working with numbers and data, and have excellent organizational skills. The median annual wage for medical records specialists was $47,180 in May 2022.

Healthcare Administrator

Healthcare administrators are responsible for the smooth operation of healthcare organizations, which is extremely important. They are in charge of everything from budgeting to staff management, to developing policies and procedures. To become a healthcare administrator, you’ll typically need a master’s degree in healthcare administration or a related field.

A healthcare administrator’s work day can vary greatly depending on the specific job and organization they work for. They may spend their days attending meetings, analyzing financial reports and data, developing strategic plans, and managing staff. They also play a crucial role in ensuring compliance with regulations and maintaining high-quality patient care.

In addition to these responsibilities, healthcare administrators must also stay up-to-date on industry changes and developments to make informed decisions for their organization. This career path is well-suited for those who have strong leadership skills, excellent communication abilities, and a passion for making a positive impact in the healthcare industry. [Read more…] about Find Your Calling: Fantastic Career Ideas in the Medical Field

How to Make a Living as a Sound Engineer

January 10, 2024 by Tim McMahon

If you’re passionate about music and have an ear for sound, a career as a sound engineer could be the perfect fit for you. Sound engineering is a specialized field that involves mixing, recording, and manipulating sound for various types of media. It’s a highly sought-after profession in the music industry, film industry, television industry, and even gaming industry. This blog post will discuss how to make a living as a sound engineer. According to the U.S. Bureau of Labor Statistics (BLS) the median pay for Broadcast, Sound, and Video Technicians is $53,960.

What Broadcast, Sound, and Video Technicians Do

According to the BLS:

Broadcast, sound, and video technicians set up, operate, and maintain the electrical equipment for radio programs, television broadcasts, concerts, sound recordings, and movies.

Duties

Broadcast, sound, and video technicians typically do the following:

Operate, monitor, and adjust audio, video, sound, lighting, and broadcast equipment to ensure consistent quality
Set up and take down equipment for events and live performances
Record speech, music, and other sounds on recording equipment or computers, sometimes using complex software
Synchronize sounds and dialogue with action taking place on television or in movie productions
Convert video and audio records to digital formats for editing on computers
Install audio, video, and lighting equipment in hotels, offices, and schools
Report any problems that arise with complex equipment and make routine repairs
Keep records of recordings and equipment used

These workers may be called broadcast or sound engineering technicians, operators, or engineers. They set up and operate audio and video equipment, and the kind of equipment they use may depend on the particular type of technician or industry. At smaller radio and television stations, broadcast, sound, and video technicians may have more responsibilities. At larger stations, they may do more specialized work, although their job assignments may vary from day to day. [Read more…] about How to Make a Living as a Sound Engineer

December Unemployment Unchanged

January 6, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for December on January 5^th,2024.

Employment Up- Unemployment Down

Adjusted U-3 was 3.7% unchanged from November
Unadjusted U-3 was 3.5% unchanged from November
Unadjusted U-6 was 7.0% Up from 6.7% in November
Labor Force Participation was 62.5% down from 62.8% in November
Unadjusted Employment fell from 158.395 million to 158.228 million

Summary:
Total Employed decreased in December, Labor Force Participation was down but Unemployment was unchanged.

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

Total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs…

The unemployment rate held at 3.7 percent in December, and the number of unemployed persons was essentially unchanged at 6.3 million. These measures are higher than a year earlier, when the jobless rate was 3.5 percent and the number of unemployed persons was 5.7 million.

You can read the full BLS report here.

As usual, they are talking about “Seasonally Adjusted Jobs”.

Looking at the Unadjusted Establishment Survey report we see…Originally the BLS reported employment of 158.461 million for November which they adjusted to 158.395 million in December (for a loss of -66,000 jobs). They are currently reporting 158.228 million jobs for December which is actually a loss of -233,000 jobs compared to their original numbers. This in confirmed by the decline in the LFPR which fell from 62.8% to 62.5%.

BLS Source

Current Unemployment Rate Chart

Adjusted Unemployment is slightly above the pre-COVID 2019 cyclical lows of 3.5% as well as above the lows made earlier this year. Current levels are still within the “Green Zone”.

Conquer the Skies and Stand Out as an Aviation Medical Examiner

December 15, 2023 by Tim McMahon

Do you have a passion for aviation and a desire to play a crucial role in ensuring the safety of pilots and air traffic personnel? Although you may never have heard of this profession, becoming an Aviation Medical Examiner (AME) may be just the career opportunity you have been seeking.

According to Wikipedia:

An Aviation Medical Examiner or Aero-medical Examiner is a physician designated by the national aviation authority and given the authority to perform flight physical examinations and issue aviation medical certificates. AMEs are practitioners of aviation medicine, although most are also qualified in other medical specialties.

Meet the Qualifications

To become a first-class AME, you must have a medical degree and be licensed to practice medicine in your state. You must also be a United States citizen or a resident alien. Gaining experience in aerospace medicine, emergency or internal medicine, occupational or preventive medicine, or general practice is also recommended. Once you have met these minimum qualifications, you can begin the application process to become an AME.

Complete the Application

The Federal Aviation Administration (FAA) requires all potential AMEs to complete an online application, which includes information about your background, education, and experience. This application is comprehensive and requires a great deal of detail, so be prepared to spend some time gathering the necessary information before you begin the process. Once submitted, the FAA will review your application and notify you of your status typically within 4 to 6 weeks. [Read more…] about Conquer the Skies and Stand Out as an Aviation Medical Examiner

November 2023 Employment Situation

December 9, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for November on December 8^th,2023.

Employment Up- Unemployment Down

Adjusted U-3 was 3.7% down from 3.9% in October
Unadjusted U-3 was 3.5% down from 3.6% in October
Unadjusted U-6 was 6.7% down from 6.8% in October
Labor Force Participation was 62.7% down from 62.8% in October
Unadjusted Employment rose from 157.984 million to 158.461 million

Summary:
Total Employed increased in November, Unemployment was down, and Labor Force Participation was up.

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

“Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate
edged down to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in health care and government. Employment also increased in manufacturing, reflecting
the return of workers from a strike. Employment in retail trade declined…

Among the major worker groups, the unemployment rate for teenagers (11.4 percent) edged down
in November. The jobless rates for adult men (3.7 percent), adult women (3.1 percent), Whites
(3.3 percent), Blacks (5.8 percent), Asians (3.5 percent), and Hispanics (4.6 percent) showed
little or no change over the month.”

You can read the full BLS report here.

As usual, they are talking about “Seasonally Adjusted Jobs”.

Looking at the Unadjusted Establishment Survey report we see…
Originally the BLS reported employment of 157.984 million for October which uncharacteristically they didn’t adjust in November. They are currently reporting 158.461 million jobs for November which is actually an increase of 477,000 jobs. The LFPR rose from 62.7 to 62.8%.

BLS Source

Current Unemployment Rate Chart

Adjusted Unemployment is slightly above the pre-COVID 2019 cyclical lows of 3.5% as well as above the lows made earlier this year. Current levels are still within the “Green Zone”.

October 2023 Unemployment by State

November 17, 2023 by Tim McMahon

The Bureau of Labor Statistics reported that: “Unemployment rates were higher in October in 26 states and stable in 24 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. Twenty-one states had jobless rate decreases from a year earlier, 12 states and the District had increases, and 17 states had little change. The national unemployment rate, 3.9 percent, changed little both over the month and over the year.”

In the following chart, bubble size indicates the number of unemployed. As we can see the largest number of unemployed is the red California bubble followed by the purple Texas bubble.

The vertical axis indicates the percent change from a year ago. So, New Jersey has the biggest change from a year ago, followed by California and D.C. while the majority of states are below the zero line (indicating lower unemployment than a year ago). Maryland is the most improved followed by Oregon.

The horizontal axis indicates the current unemployment rate (in percent). Puerto Rico has the highest unemployment rate by far, followed by Nevada, D.C., California, New Jersey, and Illinois.

Source: BLS

10 Job Hazards Everyone Should Watch Out For No Matter Their Industry

November 8, 2023 by Tim McMahon

Whether you work in construction, healthcare, or finance, there are certain hazards that transcend all industries. Safety is a top priority for any employee, and being aware of potential risks can prevent injuries and save lives. In this post, we’ll be highlighting 10 job hazards that anyone should watch out for, no matter their industry. From slips and falls to repetitive stress injuries, we’ll be covering a range of potential hazards that you should be aware of in order to stay safe on the job.

1. Slips, Trips, and Falls

One of the most common hazards in any workplace is slipping, tripping, or falling. This can be caused by wet or slippery floors, loose cords, or cluttered workspaces. To prevent this hazard, make sure to keep your workplace clean and tidy, wear non-slip shoes, and use caution when walking on uneven surfaces.

Particular places to watch out for in any workspace include stairways, entryways or exits, and high-traffic areas such as hallways. These areas are more prone to hazards due to heavy foot traffic and potential obstructions. It’s important to always have a clear path and avoid running or rushing through these areas, as well as ensuring proper lighting for visibility.

2. Repetitive Strain Injuries

If your job requires a lot of typing or other repetitive tasks, you may be at risk for developing a repetitive strain injury (RSI). These injuries can affect your hands, wrists, and arms and can cause pain and discomfort. To prevent RSIs, take breaks often, use ergonomic equipment, and stretch regularly.

In addition to preventing repetitive strain injuries, it’s important to also know how to treat them if they do occur. This can include rest, ice or heat therapy, physical therapy, and using braces or supports for affected areas. It’s important to listen to your body and seek medical attention if pain persists. [Read more…] about 10 Job Hazards Everyone Should Watch Out For No Matter Their Industry