The Economy and The Economy and You!You!

Copy words in Copy words in GreenGreen

Money ManagementMoney Management

Earned IncomeEarned Income The pay people The pay people receive receive for their workfor their work

Disposable IncomeDisposable Income Amount of money left after Amount of money left after taxes taxes have been have been

paidpaid Fringe BenefitsFringe Benefits

Medical, dental, sick leave, paid vacationMedical, dental, sick leave, paid vacation Other IncomeOther Income

Stocks, personal property, giftsStocks, personal property, gifts

Financial ChoicesFinancial Choices

Goals and ValuesGoals and Values Trade-offsTrade-offs Decision MakingDecision Making Disposable IncomeDisposable Income

Making a Making a budgetbudget Spend and Save Spend and Save Fixed ExpensesFixed Expenses: paid regularly: paid regularly Variable ExpensesVariable Expenses: change month to month: change month to month

Spending and SavingSpending and Saving

Values and PressuresValues and Pressures Choosing what to buy: 5 FactorsChoosing what to buy: 5 Factors

PricePrice QualityQuality FeaturesFeatures Warranties and ServiceWarranties and Service Sales/DiscountsSales/Discounts

Consumer CreditConsumer Credit

Making DecisionsMaking Decisions

LiquidityLiquidity The ability to turn savings into cashThe ability to turn savings into cash

IncomeIncome Time DepositsTime Deposits Stocks and BondsStocks and Bonds Real EstateReal Estate Interest on accountsInterest on accounts

SafetySafety

CareersCareers

The Changing EconomyThe Changing Economy Evaluating YourselfEvaluating Yourself Goals and ValuesGoals and Values Career ResearchCareer Research Understanding Employers’ Understanding Employers’

ExpectationsExpectations

Labor in Our EconomyLabor in Our Economy

Labor forceLabor force: total number of people 16yrs : total number of people 16yrs or older, or older, willing willing and and able able to workto work

Current Unemployment rateCurrent Unemployment rate National: 8.1% of the workforceNational: 8.1% of the workforce AZ: 8.7% of the workforceAZ: 8.7% of the workforce

Today’s Labor ForceToday’s Labor Force

Less than 3% of workers are Less than 3% of workers are farmersfarmers More More women women in the work force than ever in the work force than ever

beforebefore Service-oriented jobs are more important Service-oriented jobs are more important

than manufacturing jobsthan manufacturing jobs The U.S. has made a steady shift from an The U.S. has made a steady shift from an

industrial to a industrial to a service-oriented service-oriented economy economy

Types of WorkTypes of Work

Three SectorsThree Sectors FarmingFarming: largest sector in the 1800’s and : largest sector in the 1800’s and

early 1900’s early 1900’s Manufacturing/ConstructionManufacturing/Construction: largest sector : largest sector

after 1920 until modern timeafter 1920 until modern time Service IndustriesService Industries: now the largest sector; : now the largest sector;

accounts for 2/3 of the nation’s economic accounts for 2/3 of the nation’s economic activityactivity

Skill LevelSkill Level

Unskilled Jobs: requires Unskilled Jobs: requires little or no training little or no training to to perform the jobperform the job Digging ditches, bussing tables, store clerkDigging ditches, bussing tables, store clerk

Semiskilled Jobs: Semiskilled Jobs: some training some training necessarynecessary Assembly line worker, construction workAssembly line worker, construction work

Skilled Jobs: Skilled Jobs: extensive training extensive training and experience and experience neededneeded Carpenter, electrician, aviation mechanicCarpenter, electrician, aviation mechanic

Professionals: Professionals: college degreescollege degrees, as well as one , as well as one or more years of trainingor more years of training