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+.

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

Different Kinds of Self-Employment That Don’t Require Running a Business

August 23, 2023 by Tim McMahon

If you’re considering self-employment, you may assume that running a business is your only option. While starting a business can be a great way to be your own boss and pursue your passions, it’s not the only way to go about being self-employed. In fact, there are many different ways to be self-employed that don’t require owning a business. Whether you’re looking to start a new career or are simply interested in exploring your options, here are a few different kinds of self-employment to consider.

Freelancing

Freelancing involves offering your skills or expertise to others on a project-by-project basis. This can involve anything from writing to graphic design to consulting. As a freelancer, you can choose your own clients and projects, set your own rates, and enjoy the flexibility of working from home or wherever else you choose. While freelancing can be a great way to be self-employed, it does require some hustle to find clients and projects. To get started, consider setting up a portfolio website and networking with potential clients.

Contract work

Contract work is similar to freelancing, but typically involves larger projects or longer-term contracts. For example, you might work as a contract project manager or IT consultant for a company. As a contractor, you’ll typically be paid a flat rate for the duration of the contract, and may be responsible for covering your own expenses. While contract work can be lucrative, it does require finding and negotiating contract opportunities. [Read more…] about Different Kinds of Self-Employment That Don’t Require Running a Business

Skills and Certifications You Need To Become a Plumber

August 16, 2023 by Tim McMahon

Everyone needs a plumber once in a while, so skilled plumbers are always in demand. It is a well-respected profession that requires skill, knowledge, and experience. As a plumber, you will be responsible for installing, repairing, and maintaining plumbing systems in residential, commercial, and industrial buildings. You’ll need some technical aptitude and the ability to problem solve quickly when problems arise. Without a doubt, being a plumber requires a variety of skills and a series of certifications. According to the U.S. Bureau of Labor Statistics, the median annual wage for plumbers, pipefitters, and steamfitters was $59,880 in May 2021. And, most plumbers, pipefitters, and steamfitters learn on the job through an apprenticeship. Some attend a vocational-technical school before receiving on-the-job training. Most states require plumbers to be licensed.

If you enjoy working with your hands, a career in plumbing might be for you.

Skills:

Knowledge of Plumbing Systems

To become a plumber, you need to be well-versed in different plumbing systems. You will need to understand how all the pieces fit together and know how to troubleshoot when things go wrong. It’s essential to know the different parts that are used to set up pipes and how to install them correctly. According to Duvall Plumbing Heating and Cooling “Plumbing issues and accidents can be disastrous, costing thousands of dollars in damages.” So, a knowledgeable plumber can be essential to preventing expensive problems.

Attention to Detail

Plumbing problems arise when parts are not installed or sealed correctly. Attention to detail is vital when addressing plumbing issues. To become a plumber, you’ll need to be meticulous and detail-oriented. You need to have the patience to conduct thorough inspections and testing to get to the core of the problem. [Read more…] about Skills and Certifications You Need To Become a Plumber

July 2023 Unemployment Down

August 5, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for July on August 4^th2023.

Adjusted Unemployment down Slightly

Adjusted U-3 was 3.5% down from 3.6%
Unadjusted U-3 was 3.8% unchanged
Unadjusted U-6 was 7.1% down from 7.2%
Labor Force Participation unchanged at 62.6%
Unadjusted Employment fell from 156.945 to 156.126 million

Summary:
Despite the fact that the adjusted U3 unemployment rate was down, and they claim more people were working
there were actually fewer people working in July than in June.
Total Employed went down from 156.945 million in June to only 156.126 million in July.

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

“Total nonfarm payroll employment rose by 187,000 in July, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, social assistance, financial activities, and wholesale trade.”

You can read the full BLS report here.

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

Looking at the Unadjusted Employment Statistics Program (Formerly the Establishment Survey report) we see…
Originally the BLS reported employment of 155.963 million for June, which they adjusted to 156.945 million. So they subtracted 18,000 jobs for June. They are reporting 156.126 million jobs for July which is actually a decrease of 837,000 jobs based on their original estimates or a decrease of 819,000 based on their updated numbers.

BLS Source

Current Employment Rate Chart

Adjusted Unemployment is at the pre-COVID 2019 cyclical lows of 3.5%. We’ve been saying that “typically, March or April has one of the lowest unemployment rates for the year, so we could see a slight increase from here without an actual deterioration of the labor market.” And that is what happened before dropping slightly in July. Current levels are still within the “Green Zone”.