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Copyright 2007 Thomson South-Western
Chapter 1
Choices That Affect Income
Slide 2
Changing Job Market
• Job market refers to jobs available for workers
• Job skills are things workers can do• The job market continues to change
1-1 Personal Financial Decisions
Slide 3
Projected Job Growth
Employment % Change
Occupation 2004 2014 2004-2014
Network systems analysts 231,000 357,000 54.6
Medical assistants 387,000 589,000 52.1
Physician assistants 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
Postsecondary teachers 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
1-1 Personal Financial Decisions
Slide 4
Projected Job Growth
1-1 Personal Financial Decisions
Employment % Change
Occupation 2004 2014 2004-2014
Registered nurses 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
Mental health counselors 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
Sales managers 337,000 403,000 19.7
Source: U.S. Department of Labor, Bureau of Labor Statistics.
Slide 5
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
1-1 Personal Financial Decisions
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.
Slide 7
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
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Slide 91-1 Personal Financial Decisions
Slide 10
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 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
Building Communications Skills
Listening • Means that information is heard and
understood• Is an important skill for success at school and
work• Can be improved with practice
1-1 Personal Financial Decisions
Slide 13
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 14
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 15
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 16
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 17
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 18
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 19
Paying for Education and Training
• Loans and grants– Federal financial aid– Private student loans
• Scholarships• Work and save
1-2 Career Planning
Slide 20
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
1-2 Career Planning
Source: United States Office of Personnel Management, USAJOBS, https://my.usajobs.opm.gov/modifyagents.asp (accessed October 16, 2006).
Slide 21
Success Skills
Teamwork • Means working effectively in a group • Is important for success in school, work,
and personal activities • Can provide better results than working
alone
1-2 Career Planning
Slide 22
Focus on...
Student Organizations • Are often career-related • Provide opportunities to
learn about jobsand develop skills
1-2 Career Planning
Future Business Leaders of America - Phi Beta Lambda, Inc.
Slide 23
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
