Career and Financial Management

1. Career and Financial Management Workplace Trends

2. Lesson Objectives • List trends found in the modern workplace. • Identify factors that influence the labor market. • Evaluate job outlooks when selecting a possible career.

3. Workplace Trends • The Global Economy • Technology • Teamwork • Diversity

4. The Global Economy • Global Economy: ways in which the world’s economies are linked • Buying goods and services from other countries • Impact on the job market • American workers losing jobs • Exporting of goods creates new jobs

5. The Global Economy • Awareness of the global economy will help in understanding the international job market • What jobs will be sent abroad • What new jobs may be created • Which jobs will involve international trade

6. Technology in the Workplace • Advances in technology are changing how people work • Number of jobs available • Types of jobs

7. Technology Trends • Outsourcing • Businesses hire other companies or individuals to produce their goods or services • Also refers to hiring workers in other countries • Telecommuting • Work from home or an office center • Use technology to perform job • Computer, fax, cell phone, etc. • Allows workers to balance their lives

8. Teamwork Approach • Teams work together to set goals, make decisions, and implement actions • Successful team members • Do their share of work • Have good communication skills • Have a positive attitude

9. Diversity • Encounter people from different countries, cultures, backgrounds, and generations • Important to respect these differences • Value the contributions of every individual

10. The Bottom Line Technology Teamwork The Global Economy Diversity Workplace Trends

11. The Labor Market • Factors affecting the labor market • Social Changes • Population Shifts • The Economy • World Events • Government Actions

12. Social Changes • Past • Majority of workforce was male • Women stayed home • Women discouraged from full-time work • Present • Most new workers are female • Women gain self-sufficiency • 47% of the workforce in 2010 were women

13. Population Shifts • Increasing diversity of the U.S. population • Hispanic, Asian, African American and Native American numbers in the workforce are increasing • Other minority groups will also increase • Diverse workforce is an important resource when dealing with the global market

14. The Economy • Strong economy demands more workers • Workers spend money more freely • Weak economy can cause weak unemployment • Consumers reduce their spending

15. World Events • World events • Manmade or Natural • Opportunities and consequences for businesses and consumers • E.g.: Flooding, Earthquake, War

16. Government Actions • Government Actions • Rules, regulations, and other decisions that affect companies • Positive or negative effects on businesses • Changes are not sudden • E.g.: Building a new highway interchange

17. The Bottom Line The Economy Population Shifts World Events Labor Force Social Change Government Actions

18. Job Outlook • What jobs will be available? • Service-producing industries • Provide services — something that someone does for you • Most new jobs • Goods-producing industries • Provide goods — something that you can use or consume • Fewer jobs

19. Growth Rate Change

20. Choosing a Career DO’S • Follow trends in the job market • Find work that matches interests and skills DON’TS • Select a career based only on outlook • Select the career based only on salary

21. Lifelong Learning • Lifelong learning: learning more about new technologies, new practices, and new ideas throughout your life • Reading • Online forums • Classes • Workshops

22. The Bottom Line Goods Producing Industries Service Producing Industries Leisure Agriculture Business Mining Education Manufacturing Health Lifelong Learning