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Full Employment is Near – Differential between U3 and U6 reaches September 2006 Lows

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Adj U3 Icon 3-9 unchangedCorrection: The differential was only 3.5% in August 2018 and 3.2% in September 2006 so we are only nearing the 2006 level not at the 2006 level.

The U.S. Bureau of Labor Statistics (BLS) released their monthly employment survey results for the month of August on September 7th .

The current “Seasonally Adjusted” Unemployment Rate for August (released September 7th) is 3.9% unchanged from last month. 

Looking back, Seasonally Adjusted U-3 started 2017 at 4.8% then it bounced around between 4.3% and 4.4% from April through October 2017, then it was 4.1% from October 2017 through March 2018. It was 3.9% in April, 3.8% in May, 4.0% in June, and 3.9% in July.

Typically Unemployment levels are worse in June and July so seasonally adjusting takes that into consideration.

 

Unadjusted
U-3

 Unadjusted
U-3
2017 2018
May 4.1% 3.6%
June 4.5% 4.2%
July 4.6% 4.1%
August 4.5% 3.9%

 

 

Key August Employment and Unemployment Numbers

  • Adjusted U-3 Unemployment-   3.9% unchanged from July, down from 4.0% in June but above the 3.8% in May, it was 3.9% in April but still Below the 4.1% October 2017 – March 2018.
  • Unadjusted U-3 Unemployment-  3.9% down from 4.1% in July and 4.2% in June but still above the 3.6% in May, and 3.7% in April below the 4.1% in March.
  • Unadjusted U-6 Unemployment-   7.4% down from 7.9% in July, 8.1% in June, up slightly from record lows of 7.3% in May, and 7.4% in April. Below the 8.1% in March and 8.6% in February.
  • Employment 149.226 million up from 148.901 million in July.
  • August Labor Force Participation Rate 62.7% down from July LFPR 62.9%  

See Current Unemployment Chart for more info.

Full Employment is Near – Differential between U3 and U6 reaches September 2006 Lows

In August we saw a massive drop in the differential between U-3 and U-6 so perhaps we are getting closer to “full employment”  the lows on this chart are at 2.7% in October 2000 and 3.2% in September 2006. Since the current differential is once again 3.2% we have reached the lows of 2006. Back in January 2017 the media was saying that we were at “Full Employment” and we couldn’t expect anything better, manufacturing jobs would never come back etc. At that time I said we had a long way to go and that the differential between the U-6 and U-3 was nowhere near bottoming (the sign of full employment) at the time the differential was around 5%. See: Is the U.S. Really at “Full Employment”? But with the differential currently at 3.2% now we are at or very near that level. Since October 2000 reached a low of 2.7% we could still  go a bit lower.U6 minus U3 Unemployment

See Current U-6 Unemployment Rate for more info.

Employment by Sector

The employment “bubble chart” gives us a good representation of how each sector of the economy is doing (employment wise). As we can see from the chart below [Read more…] about Full Employment is Near – Differential between U3 and U6 reaches September 2006 Lows

Careers for Animal Lovers

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You can turn your love for animals into a career that’s both fun and fulfilling. Every day can be an exciting adventure with new experiences when you work with animals. Any of these careers may be perfect for you if you’re an animal lover.

Animal Trainer

Animal trainers train animals for obedience, performance, riding, security, or assisting people with disabilities. They familiarize animals with human voices and contact, and they teach animals to respond to commands. Most animal trainers work with dogs and horses, but some work with marine mammals, such as dolphins. Trainers teach a variety of skills. For example, some may train dogs to guide people with disabilities; others teach animals to cooperate with veterinarians, or they train animals for a competition or show.

Dog Walker

Although it might sound too good to be true, you can actually make money walking other people’s dogs. Some people who work a lot or have mobility impairments hire people to walk their dogs. Depending on where you live, you may be able to start your own dog walking business and have a steady clientele.

There are no education or training requirements that are needed to become a professional dog walker. However, it’s best to have some prior experience walking other people’s dogs. You can even ask these people for their permission to use them as references.

Pet Groomer

People want their dogs and cats to look their best, and you can help by becoming a professional pet groomer. You’ll be hired to bathe and trim the hair and nails of pets. You can choose to groom just dogs, just cats or both.

Working for a company in the beginning stages can help you get your foot in the door. However, if you want to earn a higher salary, The Richest recommends starting your own company eventually. Just make sure that you have enough money in your budget to purchase hair and nail clippers, pet shampoos and other essential products.

Horse Groom

Grooms care for horses. Grooms work at stables and are responsible for feeding, grooming, and exercising horses. They saddle and unsaddle horses, give them rubdowns, and cool them off after a ride. In addition, grooms clean stalls, polish saddles, and organize the tack room, where they keep harnesses, saddles, and bridles. They also take care of food and supplies for the horses. Experienced grooms sometimes help train horses.

Kennel Attendant

Kennel attendants care for pets while their owners are working or traveling. Basic attendant duties include cleaning cages and dog runs, and feeding, exercising, and playing with animals. Experienced attendants also may provide basic healthcare, bathe animals, and attend to other basic grooming needs.

Nonfarm Animal Caretaker

Nonfarm animal caretakers typically work with [Read more…] about Careers for Animal Lovers

Sports Management and Other Non-Athletic Sports Careers

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According to Forbes, the sports market in North America is expected to be worth more than $73.5 billion by 2019. While that number pales in comparison to the global tech market – at $3 trillion – or the U.S. real estate market – at $30 trillion – sports is growing at a noteworthy clip.

To those interested in sports entertainment, this isn’t much of a surprise. For years, sports teams and athletics enterprises have taken in massive profits thanks to rabid fans and active consumers. You might already own memorabilia from your favorite teams and athletes – but there is another way for you to get involved in this engaging and growing market: make it your career.

Just as growth in the health care sector often encourages more people to become doctors, nurses and medical technicians, the ongoing growth in sports should drive you toward a career in an industry you’ve always been passionate about. Here are a few careers in sports that don’t require top running speeds or impeccable hand-eye coordination:

Sports Reporter

Sports reporters cover sports events – it’s that simple. It isn’t important what media you use to comment on sports, nor does it matter what events you prefer to discuss; sports reporters might write for major newspapers or social media, they might be featured on television or host a radio show. This job is solely focused on spreading the news of and to the sports world. According to Payscale, the average salary for this career hovers around $35,000, but reporters with larger followings can earn much more. [Read more…] about Sports Management and Other Non-Athletic Sports Careers

School Counseling Through the Ages: How the Job Changes as Students Grow Up

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Most adults hardly remember their school counselors – if their schools offered any counseling services at all. In the past, school counselors did little more than proffer college brochures and chastise “problem” students. Yet, as educational institutions progressed, so did the school counseling position.

These days, school counselors take much more active roles in students’ academic and personal lives. However, how school counselors function – their daily and year-long responsibilities – vary depending on the age of their student populace. If you are on the verge of earning your master’s in school counseling online, you should consider which grade levels you are interested in serving and how that could affect your career.

Elementary School

Grades K Through 6 or 8 / Ages 4 Through 11 or 15

School CousnselorBecause younger children don’t often have academic concerns – on the level of “What courses should I take to prepare me for this career?” or “How will my college application benefit from this extracurricular activity?” – elementary school counselors often only see students when there are emotional or behavioral concerns from teachers and parents.

Usually, a counselor’s workload will depend largely on the socio-economic status of the district. Students coming from families of lower income tend to have more trouble at home, perhaps lacking essentials like electricity or regular access to food and clean water as well as experiencing drug and alcohol use, the incarceration of relatives, and noisy environments preventing study or even sleep. However, there are some issues that arise regardless of income, such as physical and sexual abuse, depression and anxiety, self-harm and peer pressure.

Counselors at this level tend to have more autonomy than counselors at more advanced educational institutions. You will likely be the only counselor serving a school, and you might serve several schools at once. Though you will answer to school administrators, like vice principals and principals, you will likely be able to schedule your own day.

Middle School/Junior High

Grades 6 or 7 Through 8 / Ages 11 Through 15

What is true of children at elementary schools is also true of middle school kids – with the added complexity of burgeoning hormones. Puberty begins for most modern adolescents between the ages of 10 and 14, so almost all students in these grade levels will begin experiencing physical and emotional changes that often translates to more trips to the school counselor. In addition to troubles seen at younger grade levels, social, romantic and sexual issues begin to appear as does experimentation with various substances. [Read more…] about School Counseling Through the Ages: How the Job Changes as Students Grow Up

Dress to Impress: 4 Tips to Leaving a Good Impression in a Job Interview

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As the old saying goes “You never get a second chance to make a good first impression”. You may be one of the most well-qualified individuals in your field, but you may still struggle to find a new position if you don’t make a good impression at the personal interview. Even when you have great credentials, your presence and demeanor during the interview process may be deciding factors that can work in your favor or against you in different ways. Someone who is equally well-qualified and who has a better demeanor may win the job. If you want to put your best foot forward in your future job interviews, pay attention to how you look.

Choose Professional Attire

A great idea is to invest in a quality interview outfit rather than trying to pull something together out of your existing apparel. Because some companies require you to attend multiple interviews, it may even be smart to have a few new outfits from somewhere like Be.Bespoke to choose from. Men should ideally wear a suit with a jacket to make a good impression. Women should wear a pantsuit or even a long skirt with a button-down blouse. Darker colors paired with a lighter-colored shirt or blouse are smart, traditional options.

https://youtu.be/USnK7uvHUaI

Ensure Your Clothing Fits Properly

Even when you choose the perfect clothes, they can still make a bad impression if [Read more…] about Dress to Impress: 4 Tips to Leaving a Good Impression in a Job Interview

Tips for Kicking Off Your Trucking Career

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Starting a new career as a truck driver can be pretty exciting. It’s a respectable choice, and for many truckers it’s really more of a way of life than just another job. So how do you get started? Do you need to go to college or spend a lot of money on training programs? Here are three tips to help you get going as a truck driver in no time.

Get Your CDL

You will need to take some actual driving courses in order to get your commercial driver’s license (CDL) and drive large vehicles. It all starts with a written test to get your CDL permit. Your local DMV might offer testing at their main offices, but in some states you’ll need to go to a specific location designated for CDL testing. Be sure to study online before your testing date. And study all of the extra material for driving passenger trucks and tankers, even if you don’t expect to drive those types of vehicles. The more endorsements you can qualify for, the more opportunities will be open to you to advance your career.

First Year Trucker

Get Hired by a Local Company

In some cases, you might not even [Read more…] about Tips for Kicking Off Your Trucking Career

4 Tips for Young Professionals Just Starting out

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It’s important to arm yourself with the right knowledge when starting out as a young professional. Knowing what to expect in the workplace will help prepare you to face certain challenges that may arise. Here are four pieces of advice to guide you as you begin your career.

Try to Appear Relaxed and Confident

Even if you feel nervous and not very confident as you start your job, it’s important to maintain an air of assurance. Your boss and coworkers may not take you as seriously if you exhibit excessive nervousness or a lack of confidence. Letting these feelings get the best of you might also cause you to make silly mistakes on the job. Maintaining good body posture and eye contact when you converse with people in the workplace can make you appear more in control. Excessive chatting, fidgeting and other nervous habits should be avoided.

Diversify Your Work Experiences

Since you’re still young, [Read more…] about 4 Tips for Young Professionals Just Starting out

5 Things You Can Do with a Degree in Special Education

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Special education is one of the most in-demand specialties for teachers today. According to the CDC, about one in every six children has some type of developmental disability. Not all children requiring special education have a cognitive or physical delay or other challenge, as an increasing number of students are considered gifted or talented and need special education to meet their needs.

Earning a degree in special education opens the doors to a range of career opportunities, all of which are growing swiftly. As you think about your career in education, consider some of these paths to helping all students access the education they deserve.

Special Education Teacher

The most obvious path with a special education degree is to become a classroom teacher. Opportunities abound, as there are significant shortages of special education teachers in nearly every state. The expected growth in the field varies according to location and age group, with special education preschool and early childhood educators expected to see the most growth (9 percent) over the next six years. However, even elementary and secondary educators will see demand increase, with the expected growth rate at 6 percent.

Special education teachers may work with a full class of students, with individual students or with small groups. Some specialize in a specific subject area, such as reading, while others are generalists. Regardless, working as a special education teacher requires a higher-than-average degree of flexibility and patience, as well as a willingness to manage the paperwork that comes along with special education and to work as part of a team of parents, counselors, administrators and other teachers.

Special Education Specialist

Some schools or districts hire specialists to work with a specific population of students. For example, you might work with hearing-impaired students as an ASL interpreter or earn an autism certification online to work specifically with students with autism. In fact, autism is on the rise, with the CDC reporting rates of 1 in 68 children, and many of these children are being mainstreamed into traditional classrooms. Often, they need one-on-one assistance, and a special education specialist fills that role. In some cases, the specialist will work with the same student throughout their time in the school, allowing them to build a special bond and relationship with the student and his or her family. Specialists often face many of the same challenges as classroom teachers, though, in terms of needing patience and flexibility and managing the intricacies of special education.

Student Advocate

When a student requires special education services, they generally have an Individual Education Plan, or IEP. IEPs are developed with the input of teachers, counselors, healthcare providers, social workers school administrators and parents. The process isn’t always easy, and many parents find that they aren’t fully prepared to advocate for their child. That’s where a student or family advocate comes in. They serve as an objective third party for the family, putting their knowledge of the ins and outs of special education to work to ensure that the student receives all necessary services and that the IEP is thorough and effective. Most student advocates work on a freelance or contract basis and have at least a few years of experience working in a school or program before they become an advocate.

Early Intervention Specialist

Some children present signs of cognitive or physical delays or disabilities early in life – sometimes as early as infancy. Early intervention specialists work with infants, toddlers and preschoolers to deliver interventions that will have a positive effect on their growth and development. Early intervention specialists often work with social workers and medical providers to provide services in the home, medical setting or a center or classroom. This role also requires a great deal of patience, as well as a thorough understanding of child development and developmental milestones.

Special Education Diagnostician

For many children, [Read more…] about 5 Things You Can Do with a Degree in Special Education

Want to Be a Mechanic? Top Tips for Success

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As a mechanic, you have a lot of opportunities in your future. After all, most people drive cars on a daily basis. Additionally, most people tend to need an auto mechanic once or twice a year (at least). Business will always be good for a mechanic. However, business can be greater when you’re an honest mechanic. Unfortunately, this is an industry where people experience a lot of unfair prices and fraud and many mechanics complain about the practices employed by dealerships. There are a variety of options available to qualified auto mechanics including working for dealers, private shops or starting your own shop. According to the U.S. Bureau of Labor Statistics: The median annual wage for automotive service technicians and mechanics was $39,550 in May 2017.

Operate with Integrity

For most people, an auto mechanic who works with integrity is a godsend. Many people wish they could be in the position where they were working with a mechanic who they genuinely trusted. Earn the trust of your customers by providing them with excellent customer service. Always be honest in your dealings with them. Make sure that you set prices that allow you to set fair prices and earn a fair profit. This one tip will easily set you up above the rest.

Develop the Skills

Employers prefer [Read more…] about Want to Be a Mechanic? Top Tips for Success

Looking Into Career Options? A Brief Overview of the Biotechnology Industry

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When many people hear the word biotechnology, they may think about cloning. But according to Wikipedia:

Biotechnology is the use of living systems and organisms to develop or make products, or “any technological application that uses biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use”… Depending on the tools and applications, it often overlaps with the (related) fields of bioengineering, biomedical engineering, biomanufacturing, molecular engineering, etc.

For thousands of years, humankind has used biotechnology in agriculture, food production, and medicine. The term is largely believed to have been coined in 1919 by Hungarian engineer Károly Ereky. In the late 20th and early 21st centuries, biotechnology has expanded to include new and diverse sciences such as genomics, recombinant gene techniques, applied immunology, and development of pharmaceutical therapies and diagnostic tests.

Here are some of the options that biotechnology encompasses if you’re considering a career in this industry. [Read more…] about Looking Into Career Options? A Brief Overview of the Biotechnology Industry