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+.

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”.

Things to Look for When Locating Your Business

July 28, 2023 by Tim McMahon

Finding the perfect location for your business is crucial. It can make or break the success of your company. Whether you’re running a small café or a large corporation, choosing the right spot can be the difference between long-term success and failure.

So what should you be looking for when searching for the best location for your business? Here are some important factors to consider.

Demographics and Foot Traffic

Understanding your potential customer base and the foot traffic in the area is important. Consider your ideal target customer and what type of location will best serve their needs. Are they predominantly young people, families, or retirees?

Also, check the foot traffic of the area to understand how many people walk by your potential location. A location with a high volume of foot traffic is generally more desirable, no matter what sort of business you run.

Businesses that require a lot of foot traffic generally tend to be located in areas with high levels of pedestrian activity. This includes retail stores, restaurants, cafes and other businesses that require customers to come inside the establishment. These types of businesses benefit from being positioned where there is a large number of potential customers passing by on their daily activities.

Additionally, having an attractive storefront and ample signage can help draw more people into the business. Ultimately, businesses that require a lot of foot traffic should look for a location that is in an area with plenty of pedestrians and good visibility from the street.

Accessibility and Parking

Your location should be easily accessible for both you and your customers. Check any commercial real estate listing for good public transportation options, ample parking, and be accessible to drivers. If you do not have easy parking, you could limit the number of customers or employees who can come or create issues for those with disabilities.

If you find yourself in an area with limited parking, there are still ways to make your business accessible for customers and employees. You can offer incentives such as discounts or free parking vouchers to encourage people to use public transportation. You can also consider offering a valet service if possible so that customers don’t have to worry about finding a spot.

Additionally, you can look into working with local businesses to provide parking vouchers that are good for a certain amount of time. By taking these steps, you can help make your business more accessible and attract customers who may otherwise not visit due to parking issues. [Read more…] about Things to Look for When Locating Your Business

June 2023 Employment at All-Time High

July 8, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for June on July 7^th2023.

Adjusted Unemployment down Slightly

Adjusted U-3 was 3.6% down from 3.7%
Unadjusted U-3 was 3.8% up from 3.4%
Unadjusted U-6 was 7.2% Up from 6.4%
Labor Force Participation unchanged at 62.6%
Unadjusted Employment rose from 156.266 to 156.963 million

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

“Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction… Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 6.0 million, changed little in June. The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.”

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 156.306 million for May which they adjusted to 156.266 million. So, they subtracted 40,000 jobs for May. They are now reporting 156.963 million jobs for June which is actually an increase of 657,000 jobs based on their original estimates or an increase of 697,000 based on their updated numbers.

Current Employment Rate Chart

Adjusted Unemployment is slightly above 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 precisely what is happening. Current levels are still within the “Green Zone”.

What to Do When Your A/C Gives Out at Work

July 5, 2023 by Tim McMahon

Having the air conditioning unit act up in the middle of a hot day can really put a damper on your small business. Not only does it make for uncomfortable working conditions, but it also affects productivity levels as well. But before you start considering canceling the day, there are some steps you can take to fix the issue. This post will provide some tips on what to do when the AC gives out at your job.

Check the Thermostat Settings

One of the first things you should check when the AC unit stops working is the thermostat setting. Make sure it’s set to “cool” and not “off” or “heat”. You’d be surprised how often this is the culprit for a malfunctioning AC unit. Also, check that the temperature setting is lower than the current room temperature. If it is, the AC should kick in and start cooling the room.

To make sure your thermostat is running efficiently, it’s important to regularly clean and dust off the surface of the unit. This helps prevent dirt and particles from blocking the sensors and ensures that your AC runs at its best. You can also check for any loose wires or connections that may be causing an issue with the system. Additionally, try replacing the batteries if the thermostat is not responding as it should. These simple steps can help keep your AC running smoothly and efficiently no matter the time of year. [Read more…] about What to Do When Your A/C Gives Out at Work

Construction Consultants: What Are They and How to Work With Them

June 9, 2023 by Tim McMahon

Construction consultants are professionals who work with construction companies to ensure that projects are completed on time and on budget, while also ensuring that the finished product is of high quality. They perform a variety of tasks including:

Project Monitoring
Document and Cost Review
Cost to Completion Analysis
Property Condition Assessments
Lender Representation Services
Other Specialty Services including Permit and Certificate Monitoring, Environmental Assessment, Asbestos and Lead Paint Assessment, Private Equity Representation and loan modifications,

To ensure that your project runs smoothly with the help of construction consultants, there are certain tips that you should keep in mind. In this article, we will discuss 3 essential tips that can help you work efficiently with construction consultants and achieve successful outcomes.

Tip #1: Communication is Key

When working with a construction consultant, it is essential to establish clear lines of communication. The consultant should be included in all aspects of the project from the beginning to ensure that they have a clear understanding of the project’s objectives and requirements. Regular communication through scheduled meetings, emails, and phone calls can help ensure that everyone is on the same page and that the project stays on track.

It is important to keep in mind that the construction consultant is there to provide guidance and support to the construction team. As such, it is important to be open to their suggestions and recommendations. A good construction consultant can bring fresh ideas to the table and help the construction team overcome any obstacles that may arise during the project.

Tip #2: Start With a Clearly Defined Scope of Work

Before commencing any project, it is important to establish a clear scope of work. This should outline the specific tasks and milestones that are required to complete the project successfully. The construction consultant should be involved in this process, helping to ensure that the scope of work is realistic and achievable. [Read more…] about Construction Consultants: What Are They and How to Work With Them

May Employment and Unemployment Up?

June 3, 2023 by Tim McMahon

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for May on June 2^nd2023.

Unemployment up Slightly

Adjusted U-3 was 3.7% up from 3.4%
Unadjusted U-3 was 3.4% up from 3.1%
Unadjusted U-6 was 6.4% Up from 6.1%
Labor Force Participation unchanged at 62.6%
Unadjusted Employment rose from 155.386 to 156.303 million

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

“Total nonfarm payroll employment increased by 339,000 in May, and the unemployment rate rose by 0.3 percentage point to 3.7 percent, the U.S. Bureau of Labor Statistics reported today.
Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.”

You can read the full BLS report here.

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

Looking at the Establishment Survey report, we see…
Originally the BLS reported employment of 155.337 million for April which they adjusted to 155.386 million. So they added 49,000 jobs for April. They are reporting 156.306 million jobs for May which is actually an increase of 969,000 jobs based on their original estimates or an increase of 920,000 based on their updated numbers.