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+.

June Employment Weak

July 6, 2024 by Tim McMahon

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

Employment / Unemployment

Seasonally Adjusted U3- 4.1% up from 4.0% in May
Unadjusted U3- 4.3% up from 3.7% in May
Unadjusted U6- 7.7% up from 7.1% in May
Labor Force Participation Rate 62.6% up from 62.5%
Employment 159.392 million up from 158.845 million
Next data release August 2^nd, 2024

Summary:
Total Employed increased in June, Unadjusted Unemployment was up sharply, but Seasonally adjusted Unemployment increased only slightly.

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

“Total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction…

Both the unemployment rate, at 4.1 percent, and the number of unemployed people, at 6.8 million, changed little in June. These measures are higher than a year earlier, when the jobless rate was 3.6 percent and the number of unemployed people was 6.0 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 158.918 million for May
which they now adjusted to 158.845 million.

They are currently reporting 159.392 million jobs for June which is actually an increase of 474,000 jobs compare to what they first reported or 547,000 compared to their new numbers.

The LFPR was up from 62.5% to 62.6%.

Good News for the Market?

In the perverse stock market of these post-pandemic days, the market is looking for an excuse for the FED to cut interest rates so “Bad News is Good News” for the market.

The news wasn’t bad enough to spark a major rally but after falling initially, at around 10:30 AM the market turned around and rallied for the rest of the day taking it to slightly above the previous day’s close. So basically a giant “nothing burger”.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment remains above the pre-COVID 2019 cyclical lows of 3.5%, but is approaching the yellow zone.

[Read more…] about June Employment Weak

From Layoff to Lift-Off: Starting Your Own Construction Business

June 25, 2024 by Tim McMahon

The construction business can be very volatile. One day everyone is too busy and the next day people are getting laid off left and right. If you’ve recently experienced a layoff in the construction industry, you may be considering taking your skills and expertise to the next level by starting your own construction business. This transition can be both challenging and rewarding, but with the right skills and information, you can turn this setback into a successful lift-off for your entrepreneurial journey.

Finding Your Niche in the Industry

Before diving headfirst into launching your construction business, it’s crucial to identify and hone in on your niche. Start by reflecting on your skills, experience, and passions within the industry. Do you have a knack for residential construction, excelling in building family homes and multifamily units? Or perhaps your expertise lies in commercial projects, such as office buildings, retail centers, or large-scale renovations. Consider whether you possess specialized knowledge in emerging trends like sustainable and green building practices, or you want to focus on the tried and true, like remodeling and repairs for Senior Citizens. By identifying a niche, you can target a specific market segment, tailor your services to meet particular needs and distinguish yourself from the competition.

Once you’ve pinpointed your niche, conduct thorough market research to understand demand, competition, and potential client needs. Look into industry reports, local construction trends, and potential gaps in the market that your new business could fill. Networking with industry professionals and joining construction trade organizations can also offer valuable insights and opportunities. Ultimately, having a clear niche enables you to develop a focused business strategy, streamline your marketing efforts, and build a reputation as an expert in your chosen field. Remember, carving out your specific place within the construction sector can significantly enhance your chances of success and long-term growth.

How To Excel As An Electric Vehicle Technician

June 18, 2024 by Tim McMahon

The demand for skilled electric vehicle technicians is surging, with the automotive industry rapidly transitioning towards electric vehicles (EVs). Today we explore the essential skills required to excel in this field and the training options available to aspiring EV technicians. By understanding the necessary competencies and choosing the right training path, you can set yourself up for a promising career in EV maintenance and repair.

The Rise of Electric Vehicles (EVs) and the Need for Skilled Technicians

The global shift towards sustainable energy has significantly accelerated the adoption of electric vehicles. Governments and consumers alike are increasingly recognizing the environmental and economic benefits of EVs, leading to a growing number of electric vehicles on the road. With this rise comes an urgent need for skilled technicians who can maintain and repair these advanced machines. Technicians with specialized knowledge of EV technology are essential to ensuring the longevity and efficiency of electric vehicle fleets.

Essential Skills for EV Technicians

Understanding EV Technology

One of the most fundamental skills for an EV technician is a thorough understanding of electric vehicle technology. This includes knowledge of how electric motors work, the functionality of battery systems, and the integration of various electronic components. A solid grasp of EV technology forms the foundation for all other skills.

Proficiency in Electrical Systems

Electric vehicles rely heavily on sophisticated electrical systems. Thus, proficiency in electrical engineering principles is crucial. Technicians must be adept at working with high-voltage systems, diagnosing electrical faults, and implementing effective repairs. This requires a keen eye for detail and a systematic approach to problem-solving. [Read more…] about How To Excel As An Electric Vehicle Technician

May 2024 Employment- Good News is Bad News?

June 8, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for May on June 7^th,2024.

Employment / Unemployment

Seasonally Adjusted U-3 was 4.0% up from 3.9% in April
Unadjusted U-3 was 3.7% up from 3.5% in April
Unadjusted U-6 was 7.1% up from 6.9% in April
Labor Force Participation was 62.5% down from 62.7%
Unadjusted Employment rose from 158.001 million to 158.918 million
Next data release July 5^th 2024

Summary:
Total Employed increased in May, but Unemployment was also up.

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

“Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several industries, led by health care; government; leisure and hospitality; and professional, scientific, and technical services.

Both the unemployment rate, at 4.0 percent, and the number of unemployed people, at 6.6 million, changed little in May. A year earlier, the jobless rate was 3.7 percent, and the number of unemployed people was 6.1 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 158.016 million for April which they adjusted slightly to 158.001 million in May.

They are currently reporting 158.918 million jobs for May which is actually an increase of 902,000 jobs based on their original numbers or 917,000 based on their new numbers for April. The LFPR was down from 62.7% to 62.5%.

The LFPR was down from 62.7% to 62.5%.

Bad News for the Market

In the perverse stock market of these post-pandemic days, the market is looking for an excuse for the FED to cut interest rates so “Bad News is Good News” for the market.

BUT… This month was the opposite of last month, the “experts” were only expecting 190,000 new jobs but the BLS reported 272,000 new jobs. So the market fell on the “good news”. However, had they focused on the Adjusted U3 number itself (like they did last month) which rose from 3.9% to 4.0% the market would have risen. This is the same percentage increase as last month which went from 3.8% in March to 3.9% in April. But last month that increase triggered a buying spree.

And all those extra jobs that the market was worried about? 43,000 of them were new government jobs! Hardly the sign of a booming economy. Mr. Market may have been fooled by the ADP report (which is released 2 days before the BLS report) that showed only 152,000 new jobs based on actual payroll records that ADP processes.

So, the real numbers don’t really matter, as Bob Prechter of Elliottwave International says, all that matters is finding an excuse to do what the market wants to do anyway.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment remains above the pre-COVID 2019 cyclical lows of 3.5%, as well as above the lows made early in 2023. The unemployment rate is inching back toward the yellow zone.

Unlocking The Value Of A “Career College” Degree In Today’s Economy

May 8, 2024 by Tim McMahon

As the 1960s Bob Dylan song says The Times They are a-changin’. Today an ordinary Bachelor of Arts degree doesn’t carry much weight. But a practical degree from a “Career College” that teaches you real-life skills can be much more valuable.

Navigating the Job Market through Upskilling

In a landscape where job stability is increasingly rare, the significance of education and skill enhancement is more critical than ever. Acquiring new, relevant skills or honing existing ones offers a tangible path to securing stable employment. It’s about making oneself indispensable in roles that are in demand, regardless of economic fluctuations.

Understanding “Career Colleges”

Career colleges, often misunderstood and undervalued, offer a unique value proposition. These programs aim to equip students with highly sought-after practical skills in shorter timeframes than traditional four-year educational institutions provide. These colleges focus on hands-on training and real-world applications, preparing students for specific careers quickly and effectively.

Career colleges offer specialized training in fields that are in high demand, such as cybersecurity, office administration, graphics design, web design, data analytics, and healthcare management. This prepares students for careers in emerging industries and fields.

Career colleges also prioritize job readiness, ensuring that students are prepared to enter the workforce immediately upon graduation. This often includes training in soft skills, resume building, and interview preparation.

April Unemployment- Bad News is Good News?

May 4, 2024 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for April on May 3^rd,2024.

Employment / Unemployment

Seasonally Adjusted U3: 3.9% up from 3.8% in March
Unadjusted U3: 3.5% down from 3.9% in March
Unadjusted U6: 6.9% down from 7.4% in March
Labor Force Participation was 62.7% unchanged
Unadjusted Employment rose from 157.213 million to 158.016 million
Next data release June 7^th 2024

Summary:
Total Employed increased in April, Unadjusted Unemployment was down, but Seasonally adjusted Unemployment increased.

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

“Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in health care, in social assistance, and in transportation and warehousing.

Both the unemployment rate, at 3.9 percent, and the number of unemployed people, at 6.5 million changed little in April. The unemployment rate has remained in a narrow range of 3.7 percent to 3.9 percent since August 2023.”

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 157.218 million for March which they adjusted slightly to 157.213 million.

They are currently reporting 158.016 million jobs for April which is actually an increase of 798,000 jobs compared to the original numbers or 803,000 based on their new numbers.

The LFPR was unchanged at 62.7%.

Bad News is Good News for the Market

In the perverse stock market of these post-pandemic days, the market is looking for an excuse for the FED to cut interest rates so “Bad News is Good News” for the market. So, with the Adjusted U3 rising, Mr. Market took that as “Bad News” and rallied.

BUT… was it really even bad news? Or was it Fake News?

First of all, it was only the “Adjusted” U3 that increased, the Unadjusted U3 was down from 3.9% to 3.5% and the Unadjusted U6 was down from 7.4% to 6.9%. So, unadjusted unemployment was good news, making it bad news for the market?

Typically we can think of the adjusted rate as a comparison to the average. So let’s look at what has happened in the UNADJUSTED U3 over the last few years.

Unadjusted U3

Date	March	April	Change
2024	3.9%	3.5%	-0.4%
2023	3.6%	3.1%	-0.5%
2022	3.8%	3.3%	-0.5%
2021	6.2%	5.7%	-0.5%

So, what do we see? Over the last few years, the unadjusted U-3 declined -0.5% from March to April so that is the “normal” behavior for March – April. But this year, it only declined -0.4%. So, in perverse Government logic, it increased by +0.1%. Thus, Adjusted U-3 went from 3.8% last month to 3.9% this month. But actual unemployment fell from 3.9% to 3.5% this is a decrease not an increase (just not quite as big a decrease as usual). But Mr. Market was looking for an excuse to rally, so any excuse will do.

As I’ve said many times, January unemployment is the worst and it gets progressively better until summer when all the kids get out of school and the workforce swells making it look like more people are unemployed.

Actually, there are some good reasons for the Seasonal adjustments see Adj vs Unadj. But in this case, looking at the Adjusted numbers compared to last month isn’t going to give you the picture the market was looking for. Looking at the chart below we can see that even at 3.9% unemployment is still in the green, so there is nothing there to convince the FED to start easing.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment remains above the pre-COVID 2019 cyclical lows of 3.5%, as well as above the lows made early in 2023. But have retreated away from the “yellow zone.”

7 Skills You Need When Starting a Roofing Business

April 25, 2024 by Tim McMahon

Starting your own roofing business can be an exciting and rewarding venture. However, in order to succeed in this competitive industry, there are certain skills that every roofer should possess. From technical expertise to business acumen, having the right skills can make all the difference in building a successful roofing business. In this article, we will discuss 7 essential skills that every roofer should have when starting their own business.

1. Technical Skills

As a roofer, it is important to have a strong foundation of technical knowledge and skills. This includes understanding different types of roofing materials, proper installation techniques, and safety protocols. Having solid technical skills will not only ensure the quality of your work but also help you build a positive reputation in the industry.

2. Communication Skills

Effective communication is key in any business, including roofing. Whether you are dealing with clients, suppliers, or employees, being able to clearly convey information and listen actively is crucial for success. Good communication skills can help you build strong relationships with customers and stakeholders, leading to repeat business and referrals. [Read more…] about 7 Skills You Need When Starting a Roofing Business

March 2024 Employment Higher Than Expected

April 6, 2024 by Tim McMahon

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

Employment / Unemployment

Seasonally Adjusted U3: 3.8% down from 3.9% in February
Unadjusted U3: 3.9% down from 4.2% in February
Unadjusted U6: 7.4% down from 7.8% in February
Labor Force Participation Rate: 62.7% up from 62.5%
Employment: 157.218 million up from 156.559 million
Next data release May 3^rd 2024

Summary:
Total Employed increased in March, Labor Force Participation was up and Seasonally Adjusted Unemployment was down. Overall, an encouraging report. The market took this as a positive sign and rallied. The one concerning area is the continued increase in government employees as a percentage of overall employees.

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

“Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, government, and construction…”

“Among the major worker groups, the unemployment rate for Blacks (6.4 percent) increased in March, while the rates for Asians (2.5 percent) and Hispanics (4.5 percent) decreased. The
jobless rates for adult men (3.3 percent), adult women (3.6 percent), teenagers (12.6 percent), and Whites (3.4 percent) showed little or no change over the month…”

“The number of long-term unemployed (those jobless for 27 weeks or more), at 1.2 million, was little changed in March. The long-term unemployed accounted for 19.5 percent of all unemployed people. Both the labor force participation rate, at 62.7 percent, and the employment-population ratio, at 60.3 percent, were little changed in March. These measures showed little change over the year.”

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 156.555 million for February which they adjusted to 156.559 million (for a gain of 4,000 jobs). They are currently reporting 157.218 million jobs for March which is actually a gain of 663,000 jobs compared to their original numbers. But many of these jobs came from government. Theoretically, the government could make the unemployment numbers continue to look good by simply hiring all the unemployed workers.

Government Employment

As indicated above, Government Employment is rising rapidly sucking up available employees and keeping the unemployment rate low.

If we compare the above chart with the total Private Employment we can see that government employment is rising at a steeper rate than private employment. Initially, after COVID, private employment resumed sharply but then it leveled off some. But the government employment increase hasn’t leveled off.

Total government employment is 23.270 million compared to a total private employment of 134.863 million.

Current Unemployment Rate Chart

Seasonally Adjusted U3 Unemployment remains above the pre-COVID 2019 cyclical lows of 3.5%, as well as above the lows made early in 2023. But have retreated away from the “yellow zone.”

Exploring the Benefits of a Career in Truck Driving

April 3, 2024 by Tim McMahon

Are you looking for a career that offers stability, flexibility, and the opportunity for growth? If so, a career in truck driving may be the perfect fit for you. In this blog post, we will explore the many benefits of pursuing a career in truck driving and why it may be the right choice for you.

Competitive Salary

One of the biggest benefits of a career in truck driving is the competitive salary. Additionally, many trucking companies offer bonuses, benefits, and other incentives to attract and retain drivers. With the potential for overtime pay and opportunities for advancement, a career in truck driving can provide a lucrative income for individuals.

Job Security

Another advantage of a career in truck driving is the job security it offers. With the demand for goods constantly growing, there is a consistent need for truck drivers to transport goods across the country. This means that truck drivers are always in high demand, providing a sense of job security that may not be found in other industries. Additionally, advancements in technology and regulations have made truck driving safer and more efficient, further improving job security for drivers.

Cranes in Construction: A Sky-High Opportunity for Entrepreneurs

March 26, 2024 by Tim McMahon

Several years ago, while living in Virginia, I met a man who retired from owning a crane rental company. He owned a place with a couple hundred acres, and a 4,000 sq. ft. house with a separate multi-car garage to store his car collection. He employed a few grounds-keepers to keep it in park-like condition and occasionally rented the pavilion out for weddings and such. The crane rental business was very good to him. In today’s article we’re going to look at some information about the crane rental business. ~ Tim McMahon, editor

The Crane Rental Business

Entering the construction industry is like digging into a gold mine. With the world’s growing population, the demand for infrastructure is soaring, creating lucrative opportunities for all types of businesses for those willing to take the plunge. One of the most essential, yet undervalued, sectors within the construction boom is crane rental – a vertical that’s not just about lifting heavy loads; it carries the weight of enormous potential for entrepreneurs.

Today, we’ll hoist the facts, balance the logistics, and lay the groundwork for understanding how to leverage crane rental services in the construction industry. Whether you’re a seasoned business owner looking to diversify or a start-up entrepreneur hoping to elevate your enterprise, it’s time to explore the intricacies and perks of this lofty sector.

Understanding the Crane Rental Market

The allure of the crane rental market lies in its steady growth, largely due to the global upsurge in construction activities. This sector’s economic resilience even during downturns is a testament to its stability. However, navigating this space requires a firm grasp of market trends, customer needs, and industry regulations.

Current market trends point to a surge in urban development, the growth of the renewable energy sector, and an increased preference for high-rise structures. This spells out an escalating demand for lifting solutions, positioning rental services at the forefront of the industry’s growth.

Clients in the construction industry often require more than just a crane; they seek end-to-end solutions. From consultation services to the provision of additional equipment and skilled operators, the ability to cater to these varied needs is crucial for success in the crane rental business.

Operating a crane rental business isn’t just about good customer service and efficient equipment; it’s also about adhering to stringent safety and industry regulations. Entrepreneurs must be well-versed in local and national laws that govern crane operations to maintain a competitive edge while ensuring workplace safety is a priority. [Read more…] about Cranes in Construction: A Sky-High Opportunity for Entrepreneurs