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BLS Releases February Unemployment Numbers

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The U.S. Bureau of Labor Statistics (BLS) released the February Unemployment figures on Friday March 6th. According to the BLS the Current Unemployment Rate (Seasonally adjusted) for February was 5.5% down from 5.7% in January. Along the same lines we see the Unadjusted Unemployment rates fall from 6.1% to 5.8%.  However, according to Gallup the Unadjusted Unemployment rate was actually 6.7% and the U-6 unemployment rate was 16.1%.

Unemployment Numbers According to Gallup

 

Unadjusted U-3 Unadjusted U-6
BLS 5.8% 11.4%
Gallup 6.7% 16.1%
Difference 0.9% 4.7%

Once again the BLS numbers are quite a bit different than the [Read more…] about BLS Releases February Unemployment Numbers

November Unemployment Rate Flat

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The U.S. Bureau of Labor Statistics (BLS) released the November Unemployment figures on December 5th. The Seasonally Adjusted Unemployment Rate was 5.8% the same as the October. The Unadjusted Unemployment rate was also flat at 5.5% for November.

BLS_vs_Gallup_Unemployment_2_Nov2014Once again the BLS numbers are quite a bit different than the independently generated Gallup numbers. This is no surprise, based on the long-term comparison between the BLS numbers and the Gallup numbers the BLS numbers consistently present a rosier picture than the Gallup numbers do.

According to surveys by [Read more…] about November Unemployment Rate Flat

October Unemployment Figures

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The U.S. Bureau of Labor Statistics (BLS) released the October Unemployment figures on November 7th. The Seasonally Adjusted Unemployment Rate was 5.8% down from 5.9% in September. The Unadjusted Unemployment rate was also down from 5.7% in September to 5.5% in October but traditionally October has one of the highest employment (lowest unemployment) levels of the year.

BLS vs Gallup UnemploymentFor July and August the BLS numbers were surprisingly close to the Gallup numbers but it appears that the period of sanity has ended. In September the BLS numbers went down while the Gallup numbers went up. Although both sets of numbers went down in October the gap between them is still big enough to drive a truck through.

Gallup says the unadjusted Unemployment rate is 6.2% while the BLS says it is only 5.5% for a 0.7% difference. That is a 12.7% margin of error. Notice the major divergence at the end of the chart. [Read more…] about October Unemployment Figures

BLS Releases July Unemployment: 6.2% Up from 6.1% in June

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The U.S. Bureau of Labor Statistics (BLS) released the July Unemployment figures on August 1st. The Seasonally Adjusted Unemployment Rate was 6.2% up from 6.1% in June. The Unadjusted Unemployment rate was also up from 6.3% in June to 6.5% July. Of course the spin-doctors at the BLS said it was “virtually unchanged”.

BLS vs Gallup Unemployment NumbersIn a surprising turn of events, the unadjusted BLS numbers actually agree with the Gallup numbers with the rare occurrence that the BLS numbers are actually higher than the Gallup numbers for the first time in 17 months.

Of course, we shouldn’t get too excited because the “adjusted numbers” are still a bit on the low side and the smoke and mirrors coming out of the BLS have simply shifted to the Employment numbers.

Employment Numbers

According to the commissioner of the Bureau of Labor Statistics monthly report, “Total non-farm payroll employment increased by 209,000 in July, the same as its average monthly gain over the prior 12 months. In July, employment grew in professional and business services, manufacturing, retail trade, and construction.”

So we might begin to wonder if Employment went up, how did unemployment also go up? Of course, the [Read more…] about BLS Releases July Unemployment: 6.2% Up from 6.1% in June

Tips for Selecting the Right Technical Training Program

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With the abundance of college graduates with degrees in “soft” subjects like Psychology, Drama, Anthropology, Liberal Arts, English and History  unable to find jobs when they graduate you might think that a more job specific major like Business, Economics or Criminal Justice might be more appropriate. But recent findings by Payscale have found that Criminal Justice majors have little advantage over High School grads and end up working security or as entry level police officers, Economics majors “should have learned in Econ 101: In the job market, the supply of econ majors outstrips demand”. And even business majors “need a concentration in quantitative courses such as statistics or finance” in order to succeed.

So unless you want to major in one of the “hard science” subjects like Engineering or Computer Science you might be better off skipping college and attending a Technical School that will train you for a specific profession. ~Tim McMahon, editor.

Technical Training Programs

Technical TrainingTechnical schools–also known as vocational schools, trade schools or career colleges–prepare students for specific jobs that they can pursue after graduation. Occupations taught at technical schools include electronics technician, automotive technician, welder, paralegal, licensed practical nurse, radiology, medical assistant, hair stylist and truck driver. [Read more…] about Tips for Selecting the Right Technical Training Program

Is the Trucking Industry Going Under?

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Bread. Clothing. Gasoline. You need all of these things, but they all depend on the trucking industry. With uncertain gasoline prices and the country still trying to claw its way out of a recession, the trucking industry faces serious challenges on all sides. The shipping, airline, and railroad industries all need the same business that the trucking industry now captures. Will it be able to innovate while fighting off fierce competition from outside industries? Is the trucking industry going under?

Competition

Trucking industryThe trucking industry faces many challenges. One of them is competition from other industries. Obviously, rigs aren’t the only way to transport goods and services across the country. Airfreight, trains, and shipping all pose a threat to the trucking industry. For example, in the 1980s the freight railroad business was shrinking quickly. However, after 1990, the industry saw steady growth that didn’t stop until the late 2000s.

New engines and enhancements to existing technologies are pushing the shipping industry forward. For example, “G” type engines promise an increase in fuel efficiency between 4-7 percent over existing engines. Hybrid engines are emerging that make use of gasoline and diesel as well as wind as an auxiliary source of power. If the shipping industry can capitalize on emerging technologies, [Read more…] about Is the Trucking Industry Going Under?

How to Get Your First Engineering Job

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Your first engineering job is always special. After completing four years of studies graduates are eager to get their dream job. This article will provide tips on how to get an engineering job. 

Engineering graduates always want to have their first job in a well known organization. Many engineering colleges offer placement assistance to Seniors. But students need to do their part to get the job of their dreams. Whether you are an electronic engineer or a computer engineer, following certain recommended rules can help land that desirable engineering job in a well-known company.

how to get an engineering job

Engineers, whether in the civil, mechanical or computer domain require a specialized resume. The resume or CV should be customized according to the job requirements listed in the help wanted ad. Engineers looking to join the job market cannot prepare a generic resume for every position. Applying for Civil Engineer Jobs will require a different resume from a computer engineer job. Many hiring managers complain that they receive generic resumes. Only a few candidates take the pains to create a customized resume. Engineering students applying for different job classifications should keep in mind that for 5 different employers, they should have 5 different resumes.

Resume Content is King

The content of your resume is very important.  The content should have correct figures, degrees obtained and flawless English. Further, the skills mentioned should match the job profile demand. Each company has a specific set of requirements and the person doing the initial screening of the resumes will most likely not be an engineer. So they will be scanning for key phrases that are in the job requirement. So if you [Read more…] about How to Get Your First Engineering Job

Job Hunting Success: How to Make Yourself More Employable

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Job hunting success can be difficult in a tough economy. There is a lot of competition from other job seekers and fewer positions available. The good news is that there are a few things you can do to make yourself more employable. These tips will help you stand out among the competition.

Job Hunting Success Beings with a Good Resume

Job hunting success begins with a good resume
Job hunting success begins with a good resume

A poor resume is the reason many applicants do not get a call back from a potential employer. Even if you have a good record of work experience, it may not be fully demonstrated in your resume. Take time to really flesh out the work and academic history portions of your resume. Make note of your accomplishments and awards you may have received. Use numbers and statistics whenever possible to demonstrate proof of performance. If you have leadership experience, be sure to mention it. Keep all of the details to one or two pages maximum. If you need more room to go into detail about your work history, get rid of things like the resume “objective”–it’s fluff. The objective of every job seeker is to get a job that matches their qualifications, desires, and knowledge level; the potential employer knows that. If necessary, get help with your resume from a friend, family member, or a professional resume writer. [Read more…] about Job Hunting Success: How to Make Yourself More Employable

What is Full Employment?

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In the world of employment data, unemployment statistics get a lot of attention. They have a huge impact on the economy as a whole and they also affect several other areas. Although a certain percentage of unemployment is the norm in every economy in the world, economic theory has a concept known as full employment. What exactly is full employment and why is it significant to economists?

Full Employment= Job Eutopia

Full employment is a theoretical scenario that occurs when the entire labor force is being used in the most efficient way possible. All of the skilled labor has a job in the field that they want to be in and all of the unskilled labor has a satisfactory job as well. It is possible for an economy to have full employment, although it’s not very easy to pull off.

See Labor Immobility and the Labor Participation Rate for some limiting factors in the pursuit of full employment.

Frictional Unemployment

Although the term “full employment” sounds like everyone is working, that isn’t necessarily the case. Even during times of full employment, there are still some workers who are not working. Most of these people are considered to be in frictional unemployment. What exactly is frictional unemployment? Frictional unemployment is a term that is used to describe those who are in between jobs, but are still in the workplace. For example, if you are working in a job, and you determine that you don’t like your employer, you might decide to quit and look for a new job. During the time period where you are looking for new employment, you are considered to be in [Read more…] about What is Full Employment?

Job Profile: Russian / English Translator

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Translators have a tough job to do. Mastering two or more languages is not an easy task. Moreover, it is even more difficult if the language is as tough as Russian. Russian language is considered to be a very significant part of high class literature. It is believed to have a tradition of its own. Translating English to Russian and vice versa is also a very difficult task because of the use of Cyrillic letters, which makes it look like Latin at times. About 150 million people speak Russian in Russia. Although, people in other parts of USSR are also familiar with this language.

Russian dictionary Russian translation
Russian dictionary Russian translation—quinn anya (Flickr.com)

Problems while translating English to Russian

  1. A lot of difference between the two languages – When an English to Russian translator tries to translate one language to another, the differences between the two languages cause a major problem. Spelling, grammar and sentences in English are very different from that in Russian. Almost everything about these two languages is different from one another. However, since a lot of people want to learn these two languages, the demand for translators is very high these days. Russian is widely used in the whole world and has a different dialect, lexis and writing style.
  2. Culture – The difference between the culture of Russia and English speaking countries is a major obstacle for a translator. A simple phrase in English may mean a totally different thing for a Russian because of the cultural contexts. Moreover, there are a lot of words and phrases in Russian that are associated with the current status and condition of the country. In order to learn Russian language and efficiently translate it, a translator should gather knowledge about the culture and tradition of Russia. [Read more…] about Job Profile: Russian / English Translator