Personal Skills and the Job Market Personal Financial Literacy – Chapter 1, Section 1

Refers to the job openings that are available when you are ready to go to work. Constantly changing to meet the needs of employers with job openings Job Market

Lackawanna County Job Market Early 1800’s – coal, and the importance of coal, became a vital asset to the region Delaware and Hudson canal company – formed in Carbondale to transport coal from Carbondale to NYC Company became the first million dollar private enterprise in the US Coal remained a vital asset to the region until the early 1900s Lackawanna County Job Market

Early 1900’s – oil discovered to be a cheaper, cleaner means of energy Coal became less and less popular, hitting a severe low in the 1930’s (the Great Depression) Coal saw a renewal in popularity during World War II Demand for coal, and the coal mining industry in Lackawanna County, ceased in the 1950’s Lackawanna County

Skills for the job market Skill set: The unique skills and abilities that you bring to the job market Changes over time as you learn new skills and improve upon other skills Hard skills: measurable physical and mental abilities that allow you to complete a job Examples: Installing a faucet Preparing a spreadsheet Operating a machine Driving a vehicle Skills for the job market

Skills for the job market Soft skills: nontechnical skills needed by most workers for success on the job Examples: Leadership skills Effective communication skills Teamwork skills Problem-solving skills Time-management skills Hard skills and soft skills are equally important Having both good hard and soft skills will improve your earnings potential Skills for the job market

The changing job market As new goods and services are developed, job skills needed to create them will change. Skills needed in the local job market may differ from the state or national job market What skills will you need to get a good job in today’s job market? The changing job market

The Occupational Outlook Handbook Published by the U.S. Department of Labor Available online Occupational Outlook Handbook at http://www.bls.gov/ooh/ Good source for information about the latest fields and job projections about a variety of career areas The Occupational Outlook Handbook

Income for a particular job is affected by a variety of influences: Experience Education Training Number of jobs available in the field Many workers competing for few jobs, salaries are driven down and some applicants will not find jobs in their chosen career area Job choices and income

Job Requirements Job Title Job Description (“nature of the work”) May or may not describe the duties of the job Examples: Long-Haul Truck Driver Systems Analyst Job Description (“nature of the work”) Describes what a job would be like, including tasks performed and skills needed Often contains other information, such as: education required experience required hours worked details about the work site or location Sample Job Description: http://www.bls.gov/ooh/healthcare/physician- assistants.htm#tab-2 Job Requirements

Preparing for Lifelong Learning New technology and advances made in your career field may change the skills or education needed for the job You will need to update your job skills Life-long learning will help you to be a skilled worker and an informed consumer Preparing for Lifelong Learning

Values and Goals affect your job choices Principles that reflect the worth you place on an idea or action Values define who you are Values influence the choices and decisions you make Values may help you choose one career path over another Values and Goals affect your job choices

Values and Goals affect your job choices A desired outcome based on one’s values for which a plan or action is carried out A person’s goals affect his or her behavior What goals do you want to accomplish? Can you relate these goals to your values? Values and Goals affect your job choices

How does education affect your income? Education helps you prepare to do a job well Education can be formal or informal Formal Education Involves attending classes Possibly earning a degree Students must demonstrate that they have learned certain skills and concepts How does education affect your income?

How does education affect your income? Informal Education Usually does not happen in classrooms Often a part of working Examples: on-the-job training Learning as you do the work self-training Learning new skills from reading and practicing on your own These skills can be listed on a resume when you are able to perform them at an acceptable level How does education affect your income?

How does education affect your income? The amount and type of education that you complete can affect the amount of money you earn. Generally, people with a formal education earn more than people who have less education If pay is high for a job compared to the education required, there is usually a reason High personal risk Short career span Completing tasks that others are not willing to do How does education affect your income?

How does education affect your income? Making choices about education is a serious responsibility Education is an investment in your future Your job choice and education level will affect the amount of money you are able to earn How much time and effort are you willing to put forth to prepare for the job you want? How does education affect your income?