Unemployment, Jobless Claims, and other Financial Terms

Yesterday Astronology had a fabulous rundown of financial terms you might want to learn before talking to a CFO. I have a Masters in International Economics and Finance but even I need some help sometimes with understanding what certain financial terms mean. My favorite site to use as a refresher for financial terms is Investopedia which is basically a dictionary of financial terms.

One term that has been thrown around the news the past few years is "unemployment". But what type of person actually qualifies as "unemployed"? Is it the guy who is not searching for a job? Is it the woman who has been out of work two years? Who qualifies? Well, according to Investopedia: "Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force." If you want to find out more about unemployment and how it is calculated in the United States, follow that link above.

What about jobless claims? This morning the financial world was abuzz with news that initial jobless claims fell 10,000 last week. Investopedia explains: "The number of people who are filing or have filed to receive unemployment insurance benefits, as reported weekly by the U.S. Department of Labor. There are two categories of jobless claims - initial, which comprises people filing for the first time, and continuing, which consists of unemployed people who have been receiving unemployment benefits for a while. Jobless claims are an important leading indicator on the state of the employment situation and the health of the economy. Average weekly initial jobless claims are one of the 10 components of The Conference Board Leading Economic Index."

Again, taking these terms at their base level can be confusing or misleading but actually researching them can lead to a better understanding of the job market and about your current position. If you ever don't understand something, make sure to raise your hand and ask, because trust me, even people with Masters in the subject can sometimes use a refresher. 

Astronology - Finance Terms Made Simple

Astronology Volume XI Issue 27 April 5, 2011 Dear Andrew, Astron Solutions provides high-quality, low-cost, innovative human resources consulting services to organizations like yours. Call us for advice, innovative program design, and user-friendly Web/PC based software.   The Astron Road Show Over the next two weeks, there's one stop on the Astron Road Show!  National Director Jennifer Loftus will represent our firm at the CUPA-HR New York Metro Chapter Spring Program.  The event will feature a presentation and panel discussion on employee retention and how to stem undesired employee turnover.  Click here to register for the event.  We look forward to seeing you in New York City on April 6th!   Finance Terms Made Simple Human Resources may at times find itself at odds with Finance when seeking approval for proposals. While both groups, hopefully, have the organization's best interests in mind, different approaches and terminologies underscore the differences that often exist between these two departments. In this Astronology, we present a glossary of terms useful when seeking the buy-in of CFOs and Finance Departments....more     Have a Question? If you have a topic you would like addressed in Astronology, or some feedback on a past article, don't hesitate to tell us!  Simply reply to this e-mail.  See your question answered, or comments addressed, in an upcoming issue of Astronology. Looking for a top-notch presenter for your human resource organization's meeting?  Both Jennifer Loftus and Michael Maciekowich present highly-rated sessions on a variety of compensation and employee retention issues.  For more information, send an e-mail to info@astronsolutions.com.   The Fine Print We hold your e-mail address in trust.  Astron Solutions promises never to share or rent your personal information.  We also promise never to send you frivolous e-mails and will allow you to leave our list, at your option, at any time. To remove yourself from this list, please follow your personalized subscriber link at the bottom of your Astronology alert e-mail. Copyright 2011, Astron Solutions, LLC ISSN Number 1549-0467 Quick Links Client List Meet the Astron Team Contact Us   World of HR Blog Bringing you Human Resource news from around the globe...compliments of Astron Solutions. More

 

The Good and the Bad for Hiring From Social Media

Every new technology does some great things and it also does some not-so-great things. Social media is no different. On one had it gives anyone with an internet connection the ability to become a "blogger" and call themselves an expert on a so-called topic. People rely on the internet now to get their information but doing this for something like hiring can be as perilous as using Wikipedia to try to write a Senior Thesis. There is some great information and resources out there, but there also are a lot of people with an agenda or without the experience who will try to influence you poorly in your decision-making process.

Fortunately there are some great resources as well. Social Media has taken real experts from behind the curtain and allowed the masses the opportunity to get the information from them. Instead of having to go to a lecture to hear an idea from an esteemed colleague, you can follow them on Twitter or visit their blog every day. Instead of going through a Rolodex trying to find the person you need, you can just go on LinkedIn and see who you know in that area. And instead of wondering if what you are doing is right or wrong, you can find definitive answers on the internet.

Entrepreneur Magazine lists five to follow on Twitter for Hiring. Make sure to add us to that list as well @AstronWorldofHR. Also make sure to follow Jennifer Loftus @AstronSolutions.