Answer: According to Marketplace, prospects are GOOD!
The latest Bureau of Labor Statistics (BLS) Employment Situation Summary report, commonly referred to as the “non-farm Payrolls report”, was released this past Friday, June 2. 138,000 new non-farm jobs were created in the month of May, which was 47,000 jobs lower than the forecast for 185,000 new jobs, while the unemployment rate fell to 4.3% from 4.4% the previous month (BLS, June 2017). What indication does this data provide about the health of the US economy (MarketWatch, June 2017)?
Questions for Students
From Visual Capitalist:
Questions for students:
Andrea Stemper’s one of our NGPF Fellows who integrates personal finance into her economics classes (but not for long — she’s also advocating at her district to make personal finance its own elective course, which we’d LOVE to see happen). Adept at integrating financial capability into econ, Andrea’s written in with this suggestion for a lesson on job prospects and supply & demand:
From Korn Ferry International, the highest paying fields among the 25 they analyzed were:
As in years past, those entering Science, Technology, Engineering and Math (STEM) careers can expect to garner the best starting salaries. The five highest-paying fields of the 25 jobs in the analysis include:
- Software Developer $65,232 (31 percent above average)
- Engineer $63,036 (27 percent above average)
- Actuary $59,212 (19 percent above average)
- Scientist/researcher $58,733 (18 percent above average)
- Environmental Professional $56,660 (14 percent above average)
Wondering what the average was for the Class of 2017?
First, a little orientation: The X axis is hourly median wage for a given career and the Y axis is the differential in wages between the 10th and 75th percentile. So what the graph is telling us is that the careers that have the highest values on the Y axis have the highest percentage increase in wages between top (75th percentile) and bottom performers (10th percentile). As displayed on the graph, most of the high Y-axis values align with jobs in the entertainment business. For example, to take one job, Actor, you can see the hourly median wage is about $20 and the wage percentage increase between the 10th and 75th percentile is over 400%.
Have some fun with this graph by going to the interactive version here where your students can scroll over and find what career aligns with a given plot on the graph. Here are some questions:
- What 4-5 jobs have the lowest amount of wage dispersion between top