Finding work in the current economy

By Fred Burns

Unemployment figures in both Europe and the U.S. are still at all-time highs, even though some reports say the problem is getting better. If you are one of the millions of people out of work, and either anticipating or awaiting unemployment payments, there are a number of ways to make ends meet.

Image: Getty Images/SRBichara; royalty free license

Cash in on skills

When you’re out of a job, you can often suffer from a blow to your sense of self-worth. Just keep in mind that you are just as capable as you ever were. There are other ways to make a living. You have a whole host of skills that will apply to careers other than the one you have specialized in.

 Image: Getty Images/Kolobsek; royalty free license

Look beyond your work history, and consider branching out from that narrower focus. For example, if you have been a supervisor, you have the ability to observe and evaluate the work of others. This is a great skill to have in the industry of security. I’m not talking about a night watchman. There are many jobs available in security that never involve being seen by the public. Surveillance is performed in almost every department store, and you are never expected to approach anyone- only report what you are observing. Other places that need this type of surveillance are hospitals, banks, and resorts. You may be the person in the office watching and evaluating what you see on surveillance cameras.

Personal skills

If you have personal skills, it means you are pretty good at reading other people. This is a perfect skill for a security officer at the door of a convention center. You can get training in threat assessment, and that, in combination with your native instincts, can make you a good living in the security industry.

For example, I know a teacher, with a Master’s degree, who has been priced out of the job market. No one wants to pay for someone with 30 years of experience to teach music, when they can hire a fresh-out-of-college grad for one half the salary. They have been out of a job long enough that they can’t get unemployment any more. But, with over 30 years in education, from pre-school up through university, they have a lot of experience in what the security industry calls “threat assessment”. Sure, they had to learn about the more weapon-oriented side of the field, but they can spot a shoplifter a mile away just from the way they are acting.

On the job training

If you are retired military or public service, you already have on the job training for most of the security jobs out there. Maybe you need extra money for your retirement, or just needed out of the pressure of a high risk job. The different levels of security work can provide you with a good living, and you can choose the stress level. Finding a job in this economy is not impossible. Just beef up your resume, and think outside the box.  

About the author: Fred Burns has worked within the security industry for many years. He enjoys writing articles that help people and point them in the right direction. When he isn't writing you can find him working for Crossdeck, a company that provides a jobsearch and access to CCTV training courses.

Business hiring tips: Reasons to hire less educated applicants

Too much education is bad for corporations for a multitude of reasons, but having access to an educated workforce is always good just in case the need arises. Department managers and human resource officials know that hiring people with too much education sometimes leads to more disadvantages than benefits for an employer. Moreover, since businesses are usually in existence for the primary purpose of making employees and employers money, obstacles to that purpose including too much education are to be avoided.

Over-qualification

Overqualified employees get bored, unhappy, annoyed and can disrupt workplace equilibrium with subversive manipulation, underhanded deeds and misplaced professional ambition to the detriment of peers. Such individuals are better off not hired by some employers because they are simply not worth the effort, trouble, and time. This is not to say less educated employees are not capable of the same things. Rather, according to the Harvard Business Review, there is an increased possibility that employee curation decisions will turn bad if more overqualified employees are hired. 

Cost

According to Patricia Schaefer of Business Know How, the Family and Work Institute cites lower education as the dominant factor in lower employee earnings. What if those employees can also do the same job for less though? In some cases including outsourcing, if less educated people can do the same job for a net gain, it is more cost effective to hire them. For example, hiring a 30K per year employee with a Bachelor of Arts with a net profit margin of 21 percent is better than keeping 45K per year employee with a Master of Science. This is especially the case if revenue rises less than the amount needed to offset the higher costs of hiring a more educated employee. 

Turnover

Employees with a lot of education, or higher earnings expectations are less likely to want to stick around a business. The Center for American Progress states employee turnover costs companies because they have to pay for things such as lost productivity in between hires, training expenses for new hires and recruitment costs. If an educated new hire is obviously seeking upward mobility and there is no room in an organization to accommodate that, then hiring a potentially less ambitious or less educated employee is sometimes the solution.

Competition

Educated people know a lot and that is a potential threat to co-workers and managers. In a report published by the InterAmerican DevelopmentBank, it was found that younger employees - some of whom are more educated than those making hiring decisions – are discriminated against in order to preserve the job security of older employees. New hires that have too good a grasp on what is going on, and that are able to out-think both their superiors and colleagues are a job security hazard and put the beloved status quo at risk by rocking the corporate boat. 

Insubordination

The possibility of insubordination is also a potential consequence of hiring an employee with more education than is necessary to work a job. Employees that are overqualified are more likely to become frustrated or disgusted by their work situation thereby raising the probability of an insubordinate act. In "Taming the Difficult Employee", Nancy Aldrich states insubordination arises from "lack of control" and "rewarding negative behavior". Using similar reasoning, being rewarded for getting an education is a negative reward when that reward is a job that is too restrictive and takes away from an employee's sense of control.

Why are "natural born leaders" dangerous to businesses?

This article explores the notion of being a “natural born leader,” and questions whether this is a dangerous attribute for recruiters to seek out.

 

Time for a cliché

Is there a bigger cliché in the world of business and management than that of the “natural born leader?” The answer is that there probably isn’t. There are enough books and HR professionals that preach about the notion of “leaders or managers?” around the world that you could probably fill a small country with all of them and let them squabble amongst themselves.

A common answer in this debate is that leaders are born, and managers are made. While you could probably point at various individuals throughout history that would back up the point, the fact remains that, in business, it is an outdated and extremely dangerous attitude to take. We explored why.

 

The finished article

Depending on the recruitment policy of a business, they will either look to bring in raw talent that they can mould into the leaders they want within the organisation, or they will look to the finished article. If a business is looking for “natural born leaders” then they are likely to go for the finished article, or at least that is what you may think. Consider, however, that many businesses now promote from within, and their only intake of new recruits is to graduate schemes. 

How on Earth can you tell if someone is a natural born leader at the age of 22 or 23, especially if they have spent the last 18 years in full-time education? However, this is the outlook taken by many businesses, who look to recruit based on whether they think you could be a manager or leader in the future, and when you are in the business you are either moved up or moved out very quickly. That means that there are potentially thousands of highly skilled graduates missing out on positions, who could be valuable assets to businesses, simply because of a vain wish to hire “born leaders.”

 

A development vacuum

The other problem is that businesses who recruit “born leaders” then don’t bother to invest any time or financial capital into the development of their management teams. And why would they, if they hold the misguided view that these people are already all they are going to be, and cannot be taught anything that they don’t know or possess naturally?

It is a common feature of failed businesses of recent times that their leadership and development has been poor. The modern, forward-thinking business realises that leaders can indeed be born, but still require a lot of direction and knowledge in order to reach their full potential.

Posterita is an inventory management software for chain stores and single stores to manage operations on a web based platform.

Change your mindset and make money on the go

By Chris Smith

Beg, borrow or steal, what are my choices?

Before we try to create an Excel worksheet to demonstrate to the lender about our past and future funds flow let me take you in an entirely different mindset. Most times we do not need money for our own necessities but subconsciously are trying to borrow to fulfill the need of a close friend or relative we feel obligated to provide for.

Have you ever thought that our own direct needs get subconsciously budgeted in our present income? And most of the time we are borrowing for others or our unwanted priorities.

1. Before driving to a place ask yourself a simple question if that trip is the top priority which needs to be accomplished at this point of time. Is this trip out of your home going to bring in some revenue or is it going to be a drain on your existing well balanced budget.
2. By personality some of us are job seekers and go forward and earn revenues where as others have a minor urge to be mini entrepreneurs by selling their unused items on ebay.co.uk

Once you have identified these two above traits within you, you shall see an immediate improvement in your financial standing. If by your personality trait you are a traditional job seeker than each trip out of our house has to be for a job that produces revenue and only for those trips out I need to stop by to meet a friend or buy groceries.

Charity begins at home:

My son always buys his college books on halfprice.com and he always forgets to sell back his books on Bookfinder.com. A few days back I took him to my local library and showed him the section where the library has a collection of books that they do not need and want to throw them away.

I asked my son if he can identify even one book per day from this library trash section than each trip to the library may make him richer by few bucks. After several hits and tries my son identified some DIY books that he could sell at halfprice.com as a price higher than those books had printed price on them.

Today he makes sure that any DIY book available in any of the library in the entire UK is redirected to him so that he can make a small fortune out of it. His earlier trips to library were to hang out with friend or play computer games. His same trips to library that were a drain on his pocket are a source of revenue for him and some of his friends who now consider themselves at guru in making money out of “halfprice.com.”

In Conclusion:

Essentially moving from a mindset of making a trip out to spend verses changing our mindset to taking a trip out to produce revenue shall allow you to spend the money you get the way you want to spend.

Chris Smith has been writing financial related articles for the last four years hoping to help people better manage their finances and make informed and smart decisions when money is an issue.

7 ways to used LinkedIn to find a job

By Willie Deutsch

Looking for work or trying to find a different job? Job searching can be a full time job in itself sometimes, trying to find open positions in your field. It can be a lot of hard work. By taking advantage of the social networking site LinkedIn, you can help improve your chances of finding that job that is just right for you. Here are some ways LinkedIn can help.

1. Get recommendations 

When searching for a job, recommendations can be vital. Using LinkedIn, one can easily and quickly get recommendations from contacts.  Recommendations build trust and add credibility to your profile.  Recommendations are easy to acquire, and someone serious about job hunting should work hard to increase the number on his profile.  Recommendations matter in landing an interview and the actual hiring decision. 

2. Make connections 

The more connections you make of people you know and trust, the more likely you’ll find someone who knows someone who can help land you a job.  Building large networks has been known to land jobs.  It makes it easier for potential employers to view your profile and look for referrals.

3. Use a LinkedIn PRO account

LinkedIn PRO has added features that could aid in your job search. LinkedIn PRO automatically highlights your job application, making it stand out a bit more. You can also see who views your profile, and it can help you make contact with employers who aren’t necessarily in your network.

4. Use your profile wisely 

Your profile is what employers will look at first, so you want yours to stand out. Make sure it is current, up-to-date, and compelling. This is where you showcase your unique talents and skills.  Use a professional profile picture, and fill in as much information as possible.

5. LinkedIn resume creator 

Need some help creating a superior resume? The LinkedIn Resume Creator can help you. It takes the information in your profile and puts it in a proper resume.  As always when writing a resume, remember to use action verbs instead of passive verbs.  This maximizes words in your resume and makes it more engaging to read.

6. Jobinsider tool bar 

When looking for a job, having a contact at the company can be extremely useful. The Jobinsider Tool Bar helps you see if anyone in your network works at the company you are interested in.

7. LinkedIn jobs search 

Searching in LinkedIn Jobs can show you what opportunities are out there that would be of interest for you.     

By using the tools available on LinkedIn, you will be well on your way to finding the right connections that will hopefully land you that perfect job.

Willie Deutsch is a staff writer for the tech blog Digitizd.

Number of poor Americans reveals economic reality, and possible dispute of socio-economic contracts

It is somewhat ironic that Payday Loans would create an infographic like the one below, but then again maybe it is is not. In any case, it shows the economic reality in America, one of the world's wealthiest nations, is filled with 6.4 million workforce dropouts, up to 500,000 homeless children, 46.2 million in poverty, and elderly people, 1 of 6 of whom fall below the poverty income level. 

It is also interesting to note, one of the key determinants of remaining poor is staying in dead-end low paying jobs. In other words, individuals are more likely to benefit from being pro-active and resisting exploitation than leaving those decisions up to those who benefit from the decision not to. Moreover, according to the infographic, a larger version of which can be viewed at Visual.ly, 43 percent of Americans think people can always find jobs if they are willing to work.

Although the numbers don't seem all that surprising, they are disappointing to see. An important concept the infographic leaves out is the sociological reasoning behind individual choices to give up on looking for work. In other words, people do place themselves in poor scenarios either consciously or unconsciously by their own choices at least some of the time, but why they do that could be just as valid or as invalid as the choice to be more pro-active. For example, if economics involves a social contract with society, do individuals have a right to protest the terms of that contract via non-action?

by NowSourcing. Browse more data visualization.

Guest post: ND tops list of states with fastest growing economy

By Paul Moore

The state of North Dakota is doing very well economically, thank you, and there are jobs up there for those willing to relocate.

While the Unites States’ economy is barely crawling ahead with a 1.5% GDP increase for 2011, North Dakota leads the growth rate in the country with 7.6% GDP growth, according to figures reported by 24/7 Wall Street. Some analysts point to North Dakota’s oil production as the source of this growth, but others believe there is a deeper root.  Let's look into some of the factors.

Facts of Growth

Not only does North Dakota boast the country’s fastest growing economy with GDP figures, it also lays claim to the lowest unemployment levels: a mere 3%. In fact, for every month since July 2008, North Dakota has either had the lowest unemployment rate or been tied for that honor. In addition, North Dakota has not seen a 5% unemployment rate since 1987. A small problem has arisen in the state because many people are moving into the rapidly growing and highly lucrative oil and gas job arena, leaving many other North Dakota businesses struggling to find employees. These non-oil based businesses are thriving as a result of the good economy and growing population. This has turned out to be an opportunity for those who are not directly employed by the oil industry to benefit from the growth in the area, as sectors across the board are in need of employees.

USA Today reports that population figures are also rising in North Dakota, with Fargo topping the 100,000 mark in the latest census, up 15,000 from previous reports. This trend is repeated in a number of other North Dakota towns, including Minot, Grand Forks, and Bismark. It reflects a continuing migration from the rural countryside into larger communities, but also demonstrates an influx of new North Dakota residents.

Contributors to the Economy

Without a doubt oil has been, and will continue to be, the biggest boon to North Dakota’s economic strength. It is part of the Bakken oil field that stretches across Montana as well. But Montana’s numbers are not quite as rosy as North Dakota’s. Yes! Magazine reports a 7.7% unemployment rate in Montana, which also had one of the slowest growing economies in the country in 2010, with only 1.1% GDP growth.

However, if oil is not the single magic economic innoculant for North Dakota, what is? North Dakota has long depended on agriculture for its income, with 90% of the state’s land in use for both farms and ranches. Well-known for its wheat exports as well as other crops, North Dakota brings in a whopping $1 billion per year in agricultural subsidies from the U.S. government. Obviously, agriculture plays an important role in the state’s economic stability.

An Overlooked Factor

While oil, agriculture, and manufacturing are certainly important contributors to the success of North Dakota’s bustling economy, some analysts point to a secret that makes North Dakota completely unique when compared to the other 49 states; its state owned bank. While most states turn to outside banks to deposit their tax revenues, North Dakota keeps theirs at home, allowing a portion of the Bank of North Dakota’s (BND) earnings to go back into state coffers, encouraging investment in the state, and supporting a bustling economy. It is the BND that has provided funding for many of the agricultural and oil-field endeavors, and is responsible for the state’s continual surplus. In fact, North Dakota has made significant reductions in both property tax and individual income taxes in recent years.

Good management and keeping the money at home seems to be paying off for North Dakota. Perhaps other states would do well to take a look. Of course, great natural resources help as well, making North Dakota a great state to live in.

Paul Moore writes for a North Dakota company in the Bakken Oil region.   North Hill Suites offer long-term housing stays and are the perfect solution for the housing needs of companies with an influx of workers to the oil fields.

Is there a place with high wages and low unemployment?

By Paul Moore


1% unemployment and wages three times higher than elsewhere 

The answer is a resounding, Yes!

You may have not yet heard of Williston, North Dakota, but you will.  Given that this quaint little town has a population of a mere 14,716 in the 2010 census, it's no surprise it has been flying under the radar. However, the town has become a major source of interest for many people looking for work across the country. The reason? An oil boom has fueled a wealth of job opportunities in the area, from drillers to truck drivers, and from beauticians to chefs.   When there is growth, all sectors grow.

Big names such as Halliburton, Hess, and Schlumberger are helping to keep the unemployment rate in the area lower than anywhere else in the country. Towns across North Dakota are bursting their seams, and Williston may be at the top of that list.

The Big Boom

This might be called the Big Boom Theory - If you drill it, will they come?  Except for the fact that this boom is reality.  The jobs are coming, like blessed rain over parched earth.  Oil production in the area has skyrocketed due to the opening of the Bakken oil field. These reserves have long been protected and hidden in layers of shale. The introduction of fracking technologies has provided access to the black gold, fueling growth in North Dakota’s already thriving economy.

State of the Economy

Statewide, North Dakota can boast of an unemployment rate of 3%, well below the national figure of around 9%. Such low percentages are not new to North Dakota, though, as they have not reached the 5% mark since 1987. Overall, the nation is struggling to see an increase in GDP, with only a 1.5% increase for 2011, while North Dakota lead the nation with a 7.6% growth. Figures like these help put the fantastic numbers around Williston in perspective. North Dakota is standing strong economically at a time when many other states struggle to make budget.

Employment Opportunities

Across the country, small businesses and corporations are downsizing due to the difficulties in the economic situation. The opposite is true in Williston, where the exploding growth is making the infrastructure of the community struggle to keep up. Some of the best job opportunity sectors are law enforcement, doctors and nurses, and teachers. Anytime population increases, need for these services naturally rise.

Other businesses are desperate for workers as well, especially those in the food service and hospitality industries. Entry-level waitresses can bring in $25 an hour, plus have the option of plenty of overtime, and the usual tips.

Of course, there are plenty of oilfield jobs. Besides those actually working on the rigs, truckers are in high demand to handle current production rates of 594,000 barrels per day. Pipelines need to be installed, surveying done, the opportunities are certainly numerous.

The building industry is booming as well. According to Fox News, Williston added 2,100 housing units last year, and will likely add at least 3,500 more in the next year. Real estate development is on the rise, with plans in place to add industrial parks, restaurants, medical facilities, and hotels as quickly as they can be built to keep up with the demand. If wages keep up with the current rate, the new facilities will mean more lucrative jobs with high dollar opportunities.'

Many workers are committing to working very hard for two or three years and setting aside all the money so they can pay off mortgages and live more simply back home again. For those struggling to find work in other states, the Bakken area offers hope for the future and security for families who are willing to invest serious labor in return for high wages.  

Source: news.sky.com/story/968314/workers-in-us-man-camps-power-oil-boom

Paul Moore works with a company in the Bakken area that provides camp-style housing for company employees.   Bakken Residence Suites has accomodations that feel just like home - the modern and comfortable man camp.

U.S. States Hardest Hit by Bankruptcies, Unemployment and Foreclosures

In Q1 2010 and April 2010 the state hardest hit by financial crisis as determined by bankruptcies per capita, foreclosures and unemployment was Nevada. Nevada residents came in top 2 for all three categories as a percentage of population and houses for the state.

Another state hard hit by financial crisis was California which in terms of total bankruptcies filed in Q1 2010 ranked 1st among the States. California also ranked poorly for foreclosures and unemployment with 1 in every 192 houses being foreclosed upon, and an April 2010 unemployment of 12.6 percent.

While Florida ranked top 5 for bankruptcy, foreclosures and unemployment in Q1-2010 and April 2010, its bankruptcies ranked top 5 as a total and not per capita. Since Florida is among the top 5 most populous states, it is clear the high population has a statistical bearing on the number of bankruptcies.

The financial numbers demonstrate the Western U.S. seems to have been harder hit by financial crisis than the Midwest and Eastern seaboard states. Bankruptcy, foreclosure and unemployment are not the only economic indicators to measure economic trends, but they are strong ones in the sense they reflect the amount of financial difficulty a population is experiencing quite well.

Of the states most protected from financial crisis in early 2010  were North and South Dakota. North Dakota had the lowest average numbers with April unemployment of 3.8%, 2.2 per capita bankruptcies and 1 in every 5911 homes being foreclosures. South Dakota also fared well with an unemployment of 4.7%, 1 foreclosure per every 1975 housing units, and a bottom 5 bankruptcy rating of 2.2. bankruptcies per 1000 people.

These financial statistics reveal that economies heavily dependent on tourism, real estate and services suffered more from economic hardship than did economies with agricultural and resource bases economies such as North and South Dakota. According to a June 30, 2009 Forbes article by Joshua Zumbrun, North Dakota was 1 of only 2 states to have  a state budget surplus in 2009.

Unemployment, per capita bankruptcy filings and foreclosures do not represent the whole population demographic and economy for a state, but they do indicate how state residents are doing on average. Other statistics such as the size of state budget deficits,  population decline or slowed growth, corporate relocations etc. also serve to show how well a state economy is doing at the macro-economic level.

In terms of macro-economic performance North Dakota also fared well with a 2008 state economy that grew by 7.3% according to the U.S. Bureau of Economic Analysis (BEA). As also indicated by the aforementioned statistics, the BEA reported Nevada scored in the lowest 2008 GDP quintile  with negative .6% GDP growth. California and Florida also scored poorly in this category however California did not experience negative GDP growth in 2008 pointing toward some resilience in its economy.

Sources:

1. http://bit.ly/bS2pRL (American Bankruptcy Institute)
2. http://bit.ly/122JSA (Realtytrac)
3. http://www.bls.gov/lau/ (U.S. Bureau of Labor Statistics)
4. http://bit.ly/cNza9U (Credit Cards.com)
5. http://bit.ly/K3uUb (Bureau of Economic Analysis)

How to Survive, Even Thrive, in Difficult Economic Times

Surviving in difficult economic times implies a number of economic conditions and scenarios requiring financial innovation. Whether the objectives are to recover lost income or investment worth, discover more lucrative financial opportunities, or obtain new ways to create money, navigating fiscal turbulence can be done. In terms of financial planning, a number of strategies can be used to deal with periods of troubled economics.

Maximize investments

To maximize investments, a branched investment strategy may be utilized. In such a strategy a set of goals to maximize opportunity while simultaneously increasing net worth and lowering risk can be employed. During periods of declining equity growth, high inflation and bear market conditions, a traditional strategy of financial instruments with moderate yields and low risk hedge against adverse market deterioration. Alternatively, combining inflation re-optimization techniques with income and high yield bond investments may yield a net investment gain higher than a strictly conventional investment methodology.

Regain realized losses

Regaining realized losses requires capital investment to be re-earned either by reacquisition of income, capitalization of low and/or negative income months, or reinvestment into more lucrative financial opportunities. In the case of unrealized property devaluation, a hold strategy that allows time for a market turnaround may lead to a recapturing of property value. Since obtaining mortgage and home equity credit becomes more difficult in tight credit conditions, renting for a realized annuity of mortgage value recapture may bridge the financial gap of lowered property investment value by increasing monthly savings.

Discover new ways to make money

Discovering new ways to make money engages the bottom line agenda of personal financial goals. Depending on one's capital positioning, online private lending, engaging individual skills and know how into a workable income, and actively exploring new business ventures hold opportunity for entrepreneurial minds. Retaining licensed use of innovative technology applications, or discovering a wellspring of clients in need of a service are just two possibilities business ventures may capitalize upon.

In cases where one is without work or resources to invest of any kind, individuals must rely on and seek out other financial opportunities and/or methods. Such options may be a necessity that includes non-profit, charity and/or government assistance. If an individual has minimal asset value, qualification for financing of retraining, subsidized housing, daily living supplementation and/or temporary financial assistance until employment is found may be attainable.

Design and implement a budget

It often goes without saying a budget is important to surviving in difficult financial times. When money is tight, financial adjustments need to be made in order to pay bills, save, or simply survive. Budgets take income and may re-allocate that income to expenditures, savings, investments, retirement etc.

Sometimes budgets only consist of expenditures in which case other financial planning steps may be necessary. Budgets can be created and implemented on paper, on a spreadsheet, with financial software or any way that effectively works and carries out the objective of the budget i.e. organizing money for optimal credit, savings, spending etc.

Surviving an economic down time may be easier with the knowledge that it can be cyclical and occasionally secular in nature. In the former case, bearish financial conditions and sour economic times are relatively short lived. In the latter case, economic turbulence may last longer requiring a longer-term financial strategy.

Either way, large developed economies in particular, pay close attention to the management of national finances which can ameliorate troubled times. By making use of available resources, skills, techniques and options, surviving a difficult financial time may not be a walk in the park, but might not be quite as bad as it could be either.