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. 

Take Me Out to the Ballgame

It's about 30 degrees but many miles away, in Japan, the baseball season started today. We here at Astron are made up of a few loyalties. But the majority of us root for the Yankees. So let's hope that Joe Girardi can be a good manager (had to add in the HR theme) and get the Yankees to the World Series.

So we'll go and start with the New York Times today where we have an article which says that health plans put the onus on the insured: click here

Also from the New York Times, their Home Front section talks about those determined to find a new beginning: click here

Lastly, from the Christian Science Monitor, if you're going to start an office romance, first sign a contract: click here

Getting Over the Football Hangover

A record number of you tuned in to the biggest sporting event on the planet and yet the head coach of the New England Patriots never saw the end of the game. He, like an estimated 2 million of you, called in sick. In the aftermath of an amazing football game that will definitely go down in history, a Human Resources lesson that can definitely be learned is that leader and manager should never leave subordinates alone, especially during the toughest of times, no matter how frustrated they may be...

That said, large, large congratulations go out to my football team, the New York Football Giants who improbably and amazingly banded together as a team and won a game that few ever gave them the chance to win. It took catching balls off their helmet and overcoming great adversity throughout the season and the game, but they held steadfast and deserve this win. And they deserve this talk to be about their great job rather than another team's choke.

In other news...we decided to pick on Tiki Barber, the running back who retired from the Giants before this past season and criticized the team...by running articles about retirement:

First from USA Today, word that Baby Boomer's eagerness to retire could cost them: click here

Also from USA Today, an article about early retirees trying to fill a gap in their health coverage: click here

Lastly, MSNBC talks about a hearty premium plan that we could pay for health insurance: click here