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+.

Unemployment Report for October 2023

November 3, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for October on November 3^rd,2023.

Unadjusted U3 Unemployment Unchanged

Adjusted U-3 was 3.9% up from 3.8% in September
Unadjusted U-3 was 3.6% unchanged
Unadjusted U-6 was 6.8% up from 6.7%
Labor Force Participation was 62.7% down from 62.8% in September
Unadjusted Employment rose from 156.918 to 157.984 million

Summary:
Total Employed increased in October, Unemployment was little changed, and Labor Force Participation was down slightly.

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

“Total nonfarm payroll employment increased by 150,000 in October, 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, government, and social assistance. Employment declined in manufacturing
due to strike activity…

Among the major worker groups, the unemployment rates for adult men (3.7 percent), adult women
(3.3 percent), teenagers (13.2 percent), Whites (3.5 percent), Blacks (5.8 percent), Asians (3.1
percent), and Hispanics (4.8 percent) showed little change in October.”

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 157.001 million for September which they adjusted to 156.918 million. So, they subtracted 83,000 jobs for September. They are currently reporting 157.984 million jobs for October which is actually an increase of 983,000 jobs based on their original estimates or an increase of 1,066,000 based on their updated numbers. But despite a supposed million plus new jobs the unemployment rate is virtually unchanged (and LFPR fell)?

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”.

5 Powerful Ways to Find Your Next Job Online

October 31, 2023 by Tim McMahon

Looking for a job can be daunting, but thanks to the internet, job seekers have unlimited opportunities to find their next position. Nowadays, job search engines, social media, and professional networking sites have made it easy to look for a job online. Today we’ll explore five powerful ways that can help job seekers land their dream job online.

Job Search Engines

Job search engines are the first thing job seekers think of when they start looking for a job online, and for a good reason. Websites like Indeed, Glassdoor, and Monster offer users a simple and effective way to search for a variety of jobs in various industries. Users can select their preferred location, job position, and even their salary range, and the website will provide listings that match their preferences. [Read more…] about 5 Powerful Ways to Find Your Next Job Online

Signs of a Great (and Not So Great) Staffing Agency

October 24, 2023 by Tim McMahon

In today’s fast-paced business world, staffing agencies have become valuable resources for companies looking to fill their workforce quickly and efficiently. However, not all staffing agencies are created equal. Some provide excellent services and fantastic job opportunities, while others may be disorganized or unresponsive.

If you’re looking for a staffing agency to help you find a job, it’s crucial to know how to spot a great one and avoid a bad one. In this post, we’ll outline the signs of a great staffing agency and what to watch out for in agencies that may not be a good fit for you.

A Great Staffing Agency:

Listens and Understands Your Needs

An agency that actively listens to your needs and understands your career goals is most likely a great one. They will take the time to get to know you, find out what you’re looking for in a job and provide personalized assistance in your job search. A great staffing agency should also be responsive and available whenever you need them.

Has a Great Reputation

Reputation is everything in the staffing industry. A good staffing agency should have a strong track record of helping job seekers find employment. Take the time to research the agency thoroughly.

There are a few critical ways to tell if a staffing agency has a great reputation. One is by checking online reviews from current and past clients. If the majority of reviews are positive and highlight successful placements, this is a good sign. Additionally, you can ask for references from the agency or reach out to your network to see if anyone has had experience with them. A great staffing agency should also have strong relationships with reputable companies and a good track record of filling positions quickly and efficiently. [Read more…] about Signs of a Great (and Not So Great) Staffing Agency

October Unemployment Report for September 2023

October 6, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for September on October 6^th,2023.

Adjusted U3 Unemployment Unchanged

Adjusted U-3 was 3.8% unchanged from August
Unadjusted U-3 was 3.6% down from 3.9%
Unadjusted U-6 was 6.7% down from 7.2%
Labor Force Participation was 62.8% unchanged
Unadjusted Employment rose from 156.416 to 157.001 million

Summary:
Despite the fact that the Seasonally Adjusted U3 unemployment rate was unchanged,
the UNADJUSTED U3 Rate was down… as is typical for this time of year.
Total Employed increased from 156.416 million in August to 157.001 million in September.

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

“Total nonfarm payroll employment rose by 336,000 in September, and the unemployment rate was unchanged at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in leisure and hospitality; government; health care; professional, scientific, and technical services; and social assistance…

Among the major worker groups, the unemployment rates for adult men (3.8 percent), adult women (3.1 percent), teenagers (11.6 percent), Whites (3.4 percent), Blacks (5.7 percent), Asians (2.8 percent), and Hispanics (4.6 percent) showed little or no change in September.”

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 156.302 million for August which they adjusted to 156.416 million. So they added 114,000 jobs for August. They are currently reporting 157.001 million jobs for September which is actually an increase of 699,000 jobs based on their original estimates or an increase of 585,000 based on their updated numbers.

BLS Source

Current Employment 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”.

Getting Hired: Tips for Finding Work as a Recent College Graduate

September 29, 2023 by Tim McMahon

Graduating from college is an exciting time filled with countless possibilities, but it can also be nerve-racking as you begin to hunt for your first job. With so many young professionals vying for the same positions, standing out from the crowd can be challenging. Luckily, there are steps you can take to increase your chances of getting hired. Here are some tips to help you find work as a recent college graduate.

Start Early

It is never too early to start looking for job opportunities. Some companies offer graduate programs, internships, or entry-level positions that are perfect for recent college graduates. Start researching companies and the roles that interest you in your field of study before you graduate. Attend job fairs, browse job boards, and get in touch with recruitment agencies or an employment agency to get a head start on your job search. [Read more…] about Getting Hired: Tips for Finding Work as a Recent College Graduate

Is Your Job Making You Sick?

September 21, 2023 by Tim McMahon

Ways You Can Tell and What to Do About It

It’s not uncommon to feel a bit stressed or burnt out at work, but what happens when your job begins to hurt your mental and physical well-being? This can happen more easily than you might think, and it’s essential to recognize the signs early, so you can take action before things get worse.

In this post, we look at some of the telltale signs that your job is making you mentally or physically sick and offer some practical advice on what you can do to improve your situation.

The Mental Toll

You Feel Constantly Fatigued

Working long hours, feeling unfulfilled, and experiencing stress daily can all take a massive toll on your energy levels. This often leads to feeling physically exhausted, which can, in turn, exacerbate your mental state. If you’re feeling drained and find it challenging to muster the energy to focus on anything outside of work, then it might be time to re-evaluate your work-life balance.

You’re Irritable and Short-Tempered

Your job is likely to take up a significant amount of your time and energy, which can lead to feelings of frustration. This often causes irritability and a shorter temper than usual, which can create conflict with colleagues and even cause problems at home. If you find yourself struggling with your emotions and feeling overly sensitive or defensive, it could be a sign that your job is taking a significant toll on your mental health. [Read more…] about Is Your Job Making You Sick?

How to Become an Owner Operator in Trucking

September 18, 2023 by Tim McMahon

If you have always had an interest in trucking or have experience as a truck driver, you may be considering becoming an owner-operator. As an owner-operator, you can have the freedom to run your own business while also enjoying the benefits of being behind the wheel. However, starting this journey can be intimidating and may require a lot of hard work. This article will discuss the steps you need to take to become an owner-operator in trucking.

Gain Experience

To be a successful owner-operator, you need to have your CDL license and have experience in the trucking industry. Working as a company driver for a few years will provide you with the necessary skills and knowledge of the industry. During this time, you can also begin to network and make connections with shippers and brokers. As you gain more experience, you can start thinking about owning your own truck.

Financing

As an owner-operator, you will need to finance your truck. The cost of a truck can vary depending on the make, model, and year. Most owner-operators initially opt for a used truck as they tend to be less expensive. However, used trucks can come with hidden problems, so it’s important to have a trusted mechanic inspect the truck before you buy it. Financing options can also vary, so it’s important to shop around for the best rates and terms. [Read more…] about How to Become an Owner Operator in Trucking

Need a Change of Pace? 3 Keys to Finding a New Job Quickly

September 6, 2023 by Tim McMahon

In today’s fast-paced work environment, it is common for professionals to feel the need to explore new career opportunities. Whether it is due to a lack of career growth, dissatisfaction with the work environment, or simply a desire to take on a new challenge, finding a new job can be an exciting proposition. However, the process of job searching can seem a bit overwhelming, leaving many job changers unsure of where to start or how to go about it.

If you find yourself in this predicament, don’t worry – in the current low unemployment environment, finding a new job can be quick and easy. In this article, we will explore some actionable tips to help you find new jobs quickly and efficiently.

Firstly, it is important to understand your motivation for seeking out a new job. This can help you identify the types of roles and industries that would be a good fit for you. For example, if you are looking to pursue a career in a particular field, it will be important to identify the skills and experience that are necessary to succeed in that industry. Likewise, if you are looking for a role that provides a better work-life balance, you may need to prioritize companies that offer flexible work arrangements.

Once you have a clear understanding of your goals and preferences, it is time to start exploring job listings. There are numerous social media platforms available today that can help you find good job prospects, including Glassdoor, Indeed, and many others. These platforms allow you to search for jobs based on industry, location, salary, and other criteria. [Read more…] about Need a Change of Pace? 3 Keys to Finding a New Job Quickly

August 2023 Unemployment Report

September 2, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for August on September 1^st2023.

August Unemployment Up Slightly

Adjusted U-3 was 3.8% up from 3.5%
Unadjusted U-3 was 3.9% up from 3.8%
Unadjusted U-6 was 7.2% up from 7.1%
Labor Force Participation was 62.8% up from 62.6%
Unadjusted Employment rose from 156.034 to 156.302 million

Summary:
Despite the fact that the adjusted U3 unemployment rate was up,
slightly more people were working in August than in July.
Total Employed went up from 156.034 million in July to 156.302 million in August.

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

“Total nonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, leisure and hospitality, social assistance, and construction. Employment in transportation and warehousing declined.”

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 155.126 million for July which they adjusted to 156.034 million. So they subtracted 92,000 jobs for July. They are currently reporting 156.302 million jobs for August which is actually an increase of 176,000 jobs based on their original estimates or an increase of 268,000 based on their updated numbers.

BLS Source

Current Employment Rate Chart

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

Small Business Bookkeeping Solutions

August 30, 2023 by Tim McMahon

As a small business, it might be difficult to handle all of your business responsibilities and do your accounting too. Most small businesses turn to an accounting program like Quickbooks but even that can get complicated in certain instances. So if you are having difficulty handling the accounting end of your business it is time to call in professional reinforcements. This could mean hiring a local bookkeeper or accountant or these days it could even mean hiring an online accountant.

4 Things to Look for When You Need Online Bookkeeping

In today’s digital age, online bookkeeping has become increasingly popular among small business owners. It is not only convenient but also cost-effective. However, with so many options available, it can be challenging to find a reliable online bookkeeping service. Therefore, it is important to know what to look for when you need to outsource your bookkeeping tasks.

Experience and Expertise

One of the key factors in choosing an online bookkeeping service is their experience and expertise. Look for a company that has been providing bookkeeping services for a while and has a good track record. Also, consider the qualifications of their staff, including their education and certifications. A professional bookkeeping company with experienced and knowledgeable staff can provide valuable insights and advice to help your business grow. [Read more…] about Small Business Bookkeeping Solutions