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Determining Workers’ Earnings

Determining Workers’ Earnings. Preparing Yourself for the Job Market. Personal finance choices as an adult depend on your income, or how much money you earn. Your adult income depends on decisions you can start making now What should you do after you graduate?

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Determining Workers’ Earnings

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  1. Determining Workers’ Earnings

  2. Preparing Yourself for the Job Market • Personal finance choices as an adult depend on your income, or how much money you earn. • Your adult income depends on decisions you can start making now • What should you do after you graduate? • Should I get a full time job or go to vocational school?

  3. Preparing Yourself for the Job Market • If you get a job now, you will earn money sooner, but you will almost certainly limit your earnings in the future • If invest in some kind of education or training, you will give up some of your time and money now, but will greatly increase your future earnings.

  4. Job Market • Job Market or Labor Market: • Operates according to supply and demand • The supply of workers for unskilled jobs, such as jobs in a fast-food restaurant, is very high, so wages for these jobs are low • In contrast, the supply of people who have the training to be neuro surgeons is very small, so these valued • Wages are high when the supply of labor is low and demand is high.

  5. Skills You Need to Be Successful: • The skill listed below are skills that apply to many different kinds of work. • Analytical (problem solving) skills • Computer skills • Flexibility and adaptability • Interpersonal (“people”) skills • Motivation and initiative • Self-confidence • Teamwork • Communication skills

  6. Skills Your Need to Be Successful (cont.) Ability to focus on details Honesty and integrity Leadership ability Organizational skills Strong work ethic These skills, along with a good education, are your keys to financial success in the future.

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