employment

What is Full Employment?

September 2, 2012 by Chris Keenan

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

July 24, 2012 by Guest Contributor

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—quinn anya (Flickr.com)

Problems while translating English to Russian

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.
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

Stay Ahead of Your Competition With Online Continuing Education Courses

May 24, 2012 by Guest Contributor

Online Continuing Education Courses

Today’s job market is incredibly competitive, with the number of applicants for each job far outstripping the number of available openings. While many careers may initially value experience over qualifications, enrolling in continuing education degrees or courses is a great way for employers to know you are up to date with the latest developments, technology and strategies in their industry.

Continuing Education Provides Ammo for Interviews

By keeping you on the cusp of new developments, continuing education courses ready you for new challenges your industry may be facing such as changes in technology or market forces. The formal training provided in professional courses is a highly regarded commodity as it means employers do not have to put in the time and resources to train you. Currently being involved in or having just completed a continuing education course is something that you can readily draw on in an employment interview. Speaking in detail about the benefits of the course really helps you to sell yourself to the interviewer. Be sure to stress the up to date nature of the course material, draw on case studies or examples and demonstrate a real interest in the content covered. Employers love to see their employees engaged and passionate about their career topic area.

A Degree Above the Rest

The benefits of earning a degree, whether a bachelor’s or a master’s [Read more…] about Stay Ahead of Your Competition With Online Continuing Education Courses

Employment vs. Unemployment

May 5, 2012 by Tim McMahon

Employment – Unemployment

Employment vs. unemployment… You would think that they are two sides of the same coin. But when it comes to government stats they may not be.

The government uses two entirely different surveys to calculate Employment and Unemployment and as we will see since 2010 they have started to paint entirely different pictures. A few days ago we looked at how an independent organization (Gallup poles) is now tracking unemployment rates and how the government numbers appear to be understating the level of unemployment. Today we will look at the government’s own numbers and how they don’t even agree with each other… giving more evidence that the government is slanting the data. [Read more…] about Employment vs. Unemployment

Tips for Landing a Job with No Experience

April 23, 2012 by Tim McMahon

How Can You Get a Job With No Experience?

Landing a job in today’s economy certainly is a challenge. There are so many highly qualified and experienced candidates out there that it can be nearly impossible for a recent college graduate or an individual with no job experience to break into the profession they desire.

Recently, job hunters have been bombarded with statistics and statements about the dismal state of the job economy—unemployment was recently at an all-time high, jobs are still scarce, and with graduates willing to accept lower level jobs, college degrees are losing their potency in the professional world.

For any job hunter out there, this can be an exhausting and frightening atmosphere to set foot in. But, this is how landing a job works. You have to put your foot forward and your head on the line. Oftentimes, job hopefuls find themselves in a bit of a conundrum. Employers are looking for candidates with experience, but candidates can’t get that experience until they land the job. While this is no doubt a challenge, there are many ways to display the expertise and skillset required for a job without having the specific job experience. Try these three techniques to help land a job without any relevant experience. [Read more…] about Tips for Landing a Job with No Experience

World-Wide Hourly Compensation Comparison

December 21, 2011 by Tim McMahon

The 2010 worldwide hourly compensation cost comparison is finally in. So we can see how the wages stack up between 34 different countries. Not surprisingly many European Countries have higher employment costs than the U.S. because of their massive social programs. This of course makes them less competitive in the world market. Surprisingly, in 2010 the U.K. actually had lower total employment costs than the U.S. Of course when it comes to standard of living, Wages and Social programs are only half of the equation. The other half of course is the cost of living. A low cost of living country doesn’t need the same wages in order to have the same standard of living.

Let’s look at the wage levels in various countries [Read more…] about World-Wide Hourly Compensation Comparison

World’s Most Weird and Wonderful Jobs

November 11, 2011 by Tim McMahon

By Isabella Woods

As many of us are only too aware, we spend a lot of time at work. According to the Paris-based Organization for Economic Cooperation & Development, the average Brit spends 1,530 hours a year working, while the average American spends even longer – a back-breaking, finger-hurting 1,896 hours every year.

Things are not going to get better either, according to Paul Macro of the actuaries Watson Wyatt. ‘For a long time, it was a common belief that rising prosperity would allow each generation to retire earlier than their parents,’ he says. But reality has now bitten. It means saving more or working longer.

With these sobering thoughts in mind, perhaps it’s time that we started considering how we make all those years of slog a little more interesting. Do a little digging, and it’s easy to discover some unusual, if not downright bizarre, employment opportunities.

Banana gasser

Not quite as Nazi as it appears, banana gassing is a process to help ripen the fruit ready for sale. After being picked, bananas are shipped while they are still green to help reduce the potential for bruising. On arrival, they are taken to hermetically sealed chambers where they are surrounded with an ethylene gas to encourage their ripening. The process can take three to eight days, with the gasser using a computer program to determine the volume and amount of exposure needed. [Read more…] about World’s Most Weird and Wonderful Jobs

Teen Employment Rate Plunges

July 9, 2011 by Tim McMahon

Only 1 in 4 Teens is Employed

Teenage employment rates have averaged around 45% since the 1950’s but since 2000 the teenage employment rate has plummeted. Currently less than 25% of teenagers can find a job. But don’t worry the government has a plan to create 50,000 new jobs…

So what is this magic plan you might ask?

Workers Compensation Costs for December 2010

January 28, 2011 by Tim McMahon

January 28,2011

The Bureau of Labor Statistics released the data on compensation costs today.

Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending December 2010. The majority of the increase came from an increase in benefits costs, i.e. primarily retirement costs. Benefits costs were up 2.9% compared to a 1.6% increase in wages and salaries.

During the previous year (2009) the increase in compensation costs was 1.4 percent.