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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. The Occupational Outlook Handbook
Published by the U.S. Department of Labor
Available online Occupational Outlook Handbook at
Good source for information about the latest fields and job projections about a variety of career areas
The Occupational Outlook Handbook

9. 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

10. 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: assistants.htm#tab-2
Job Requirements

11. 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

12. 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

13. 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

14. 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?

15. 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?

16. 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?

17. 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?