Chapter 1 Choices That Affect Income Copyright 2007

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Chapter 1 Choices That Affect Income Copyright 2007 Thomson South-Western

Chapter 1 Choices That Affect Income Copyright 2007 Thomson South-Western

Changing Job Market • Job market refers to jobs available for workers • Job

Changing Job Market • Job market refers to jobs available for workers • Job skills are things workers can do • The job market continues to change • Over time, the local job market tends to be very similar to the statewide or national job market. 1 -1 Personal Financial Decisions Slide 2

Projected Job Growth Employment Occupation % Change 2004 2014 Network systems analysts 231, 000

Projected Job Growth Employment Occupation % Change 2004 2014 Network systems analysts 231, 000 357, 000 54. 6 Medical assistants 387, 000 589, 000 52. 1 62, 000 93, 000 49. 6 Computer software engineers 800, 000 1, 169, 000 46. 1 Dental hygienists 158, 000 226, 000 43. 3 Database administrators 104, 000 144, 000 38. 2 Physical therapists 155, 000 211, 000 36. 7 1, 628, 000 2, 153, 000 32. 2 Employment and recruitment specialists 182, 000 237, 000 30. 5 Preschool and kindergarten teachers 601, 000 782, 000 30. 1 Paralegals and legal assistants 224, 000 291, 000 29. 7 Physician assistants Postsecondary teachers 1 -1 Personal Financial Decisions 2004 -2014 Slide 3

Projected Job Growth Employment Occupation Registered nurses 2004 2014 % Change 2004 -2014 2,

Projected Job Growth Employment Occupation Registered nurses 2004 2014 % Change 2004 -2014 2, 394, 000 3, 096, 000 29. 4 Medical records and health information technicians 159, 000 205, 000 28. 9 Emergency medical techs and paramedics 192, 000 244, 000 27. 3 96, 000 122, 000 27. 2 Personal financial advisors 158, 000 199, 000 25. 9 Pharmacists 230, 000 287, 000 24. 6 Public relations specialists 188, 000 231, 000 22. 9 Customer service representatives 2, 063, 000 2, 534, 000 22. 8 Receptionists and information clerks 1, 133, 000 1, 379, 000 21. 7 337, 000 403, 000 19. 7 Mental health counselors Sales managers Source: U. S. Department of Labor, Bureau of Labor Statistics. 1 -1 Personal Financial Decisions Slide 4

Occupational Outlook Handbook http: //www. bls. gov/ooh/ is available online and has data about

Occupational Outlook Handbook http: //www. bls. gov/ooh/ is available online and has data about the major job areas in the United States Slide 5

Career Choices and Income • More skills, training, or education can mean more income

Career Choices and Income • More skills, training, or education can mean more income • The number of jobs in a career area affects income • The number of workers competing for jobs affects income 1 -1 Personal Financial Decisions Slide 6

Sample Hourly Earnings Occupation Mean Hourly Earnings Architects $32. 54 Carpenters $19. 27 Computer

Sample Hourly Earnings Occupation Mean Hourly Earnings Architects $32. 54 Carpenters $19. 27 Computer programmers $29. 05 Dentists $38. 48 Legal assistants $20. 38 Pharmacists $42. 69 Photographers $16. 60 Registered nurses $26. 61 Sales counter clerks $10. 46 Teachers, secondary school $32. 52 Welders and cutters $16. 33 Source: U. S. Department of Labor, Bureau of Labor Statistics. 1 -1 Personal Financial Decisions Slide 7

Job Titles and Descriptions • A job title is a name given to a

Job Titles and Descriptions • A job title is a name given to a particular job – Examples: accountant, principal – Often indicates main job duties • A job description gives job details – Tasks and duties performed – Skills and education required – Location or working conditions 1 -1 Personal Financial Decisions Slide 8

1 -1 Personal Financial Decisions Slide 9

1 -1 Personal Financial Decisions Slide 9

1 -1 Personal Financial Decisions Slide 10

1 -1 Personal Financial Decisions Slide 10

Goals and Values • Values show the worth placed on ideas or actions •

Goals and Values • Values show the worth placed on ideas or actions • Values influence choices made • Goals are plans based on values or desired outcomes This teacher has chosen a career that allows her to help others. 1 -1 Personal Financial Decisions Slide 11

Education Choices • Education helps prepare workers for jobs • Formal education – High

Education Choices • Education helps prepare workers for jobs • Formal education – High school classes – College and technical school programs • Informal education – On-the-job training – Reading and practicing on your own • More education typically means better pay 1 -1 Personal Financial Decisions Slide 12

Economic Conditions • Economy means all the activities related to making and distributing goods

Economic Conditions • Economy means all the activities related to making and distributing goods and services • Economist – Is a person who studies the economy – Tries to predict what will happen in the future 1 -2 Career Planning Slide 13

Economy Affects Prices • Supply – The quantity of goods and services that producers

Economy Affects Prices • Supply – The quantity of goods and services that producers are willing and able to provide • Demand – The willingness and ability of consumers to buy products and services – When demand exceeds supply, prices may be high 1 -2 Career Planning Slide 14

Economy Affects Incomes • In a growing economy – People buy more goods and

Economy Affects Incomes • In a growing economy – People buy more goods and services – Jobs are being created – Finding and keeping a job is easier • In a slowing economy – People buy fewer goods and services – Jobs are decreasing in number – Finding and keeping a job is harder 1 -2 Career Planning Slide 15

Training and Skills for Job Success • Hard skills – The ability to perform

Training and Skills for Job Success • Hard skills – The ability to perform tasks and procedures – Examples: Install plumbing and run medical equipment • Soft skills – Nontechnical skills needed by most workers – Examples: Teamwork skills, communications skills, and problem-solving skills 1 -2 Career Planning Slide 16

Hearing Vs Listening 1 -2 Career Planning Slide 17

Hearing Vs Listening 1 -2 Career Planning Slide 17

Listening Skills • To enhance your listening skills, you should not think about your

Listening Skills • To enhance your listening skills, you should not think about your next response instead of focusing on what the speaker is saying Slide 18

Team Work To work effectively in a team, the team members should: 1. set

Team Work To work effectively in a team, the team members should: 1. set clear goals for the team 2. communicate with all team members 3. define the duties of each team member. Slide 19

Education and Training Costs • Tuition • Textbooks, fees, and other school expenses •

Education and Training Costs • Tuition • Textbooks, fees, and other school expenses • Living expenses such as rent, food, clothing, and travel 1 -2 Career Planning Slide 20

Education and Training Costs • Costs vary for different schools and programs – Private

Education and Training Costs • Costs vary for different schools and programs – Private colleges and universities – Public colleges and universities – Career and technical schools – Graduate and advanced programs 1 -2 Career Planning Slide 21

Paying for Education and Training • Loans and grants – Federal financial aid –

Paying for Education and Training • Loans and grants – Federal financial aid – Private student loans • Scholarships • Work and save 1 -2 Career Planning Slide 22

Subsidized Loan • A subsidized student loan is one on which the government actually

Subsidized Loan • A subsidized student loan is one on which the government actually pays the interest while a student remains enrolled in a qualified college or university. This means that any interest that would have been added to a subsidized loan balance is essentially erased by the government. Slide 23

Interest • Money paid for the use of money Slide 24

Interest • Money paid for the use of money Slide 24

Technology Corner Job Scouts • Are a type of computer program • Search the

Technology Corner Job Scouts • Are a type of computer program • Search the Internet to find job listings • Look for jobs using options you select • Are also called job agents Source: United States Office of Personnel Management, USAJOBS, https: //my. usajobs. opm. gov/modifyagents. asp (accessed October 16, 2006). 1 -2 Career Planning Slide 25

Focus on. . . Student Organizations • Are often career-related • Provide opportunities to

Focus on. . . Student Organizations • Are often career-related • Provide opportunities to learn about jobs and develop skills Future Business Leaders of America - Phi Beta Lambda, Inc. 1 -2 Career Planning Slide 26

Ethics Filling Out Forms • Ethics – Are a system of moral values that

Ethics Filling Out Forms • Ethics – Are a system of moral values that people consider acceptable – Require being fair and honest in your dealings with others • Be truthful when completing forms to show ethical behavior 1 -2 Career Planning Slide 27