Question of the Day: What state has the highest minimum wage? lowest minimum wage?
Answer:
Highest: District of Columbia at $15/hour, California at $14/hour
Lowest: Georgia and Wyoming at $5.15/hour ** (only applies to some farm and seaonal workers)
Questions:
What types of jobs typically earn the minimum wage?
The federal minimum wage is currently $7.25 and was last raised in 2009. Why do you think that so many states have minimums higher than the current federal rate?
If you start a job earning the minimum wage for your state, when do you think is the right time to ask...
Question of the Day: What percent of businesses fail within the first five years?
Hat tip to the group in the NGPF Virtual PD: 5 Career Resources in 50 Minutes who came up with this question.
Answer: About 50%
Questions:
Do you know anyone who has started a business?
What do you think are the reasons that businesses fail?
Resource to help answer that question.
Does research like this encourage or discourage you from wanting to start a business?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom....
Question of the Day: How much can a creator on TikTok make if their video receives 1 million views?
Hat tip to Brian Page for recommending this question:
Answer: Between $20 and $40 (or 2-4 cents per 1,000 views)
Questions:
Have you or any of your friends built an audience on TikTok? How easy or difficult was it?
Are there other ways to make money from having a significant set of followers on TikTok?
Does this information change your opinion of whether you can make a living off of TikTok videos?
Here's the ready-to-go slides for this Question of the Day that you can use in...
Interactive Ideas: 3 Different Ways to Use the Uber Game
Estimates show as much as a third of the working population in some way participates in the gig economy, a pattern that continues to rise. Introducing and engaging students into learning more about the gig economy is becoming a necessity in every personal finance classroom. One of our favorite teaching tools to do so is the Uber Game. Here are three ways you can use the Uber Game in your classroom:
Debate
The future of employer-employee relationships at Uber, Lyft, and other similar services...
NGPF Speaker Series: Ryan Craig and Eric Tyson Discuss Innovative Alternatives To College
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Jul 24, 2020
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Podcasts, Entrepreneurship, Employment, Paying for College
The NGPF Community was fortunate to have an amazing set of speakers this week for our latest installment of the NGPF Speaker Series. Venture Investor Ryan Craig joined personal finance guru Eric Tyson to discuss both alternatives to college and for those choosing the college pathway, strategies to keep the cost of that degree to a minimum.
Here's some of the feedback from the teachers who attended the live event:
"Incredibly eye-opening session about alternatives to colleges."...
Reading List for July 10-12
Income and Budgeting (pandemic-related)
A survey by Bankrate conducted in late June yielded some dire if not unexpected statistics about the impact of the pandemic on incomes.
49% of those polled said the pandemic has negatively impacted their income.
Of those negatively impacted, only 17% were back to normal at the time of the survey, and 59% feel it will take longer than three months to recover.
45% were not impacted.
This WSJ (subscription) article has lots of great statistics/graphs...
Question of the Day: Does a worker's level of education become MORE or LESS important during an economic slowdown (recession)?
This sharp and sudden economic downturn demonstrates how impacts on employment are felt differently based on the level of education.
Answer: More important
In just two months between February and April 2020, watch how unemployment rates varied dramatically based on level of education:
Unemployment analysis (source: FRED)
Questions
What is the relationship between level of education and unemployment rates?
Why do you think this relationship exists? Why does more education tend to...
Chart of the Week: What industries are most impacted by the economic shutdown due to coronavirus?
Questions:
What 3 industries had the largest NUMBER of unemployed persons in April?
What 3 industries have the LOWEST unemployment rates in April? Why do you think those industries were least impacted by the coronavirus?
In analyzing the change in unemployment rates between March and April, do you think this pandemic has impacted narrow sectors of the economy or had more widespread impact?
The report indicates that about 80% have identified themselves as being...
Reading List for May 8-10
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May 08, 2020
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Current Events, Employment, Economics, Investing, Student Loans, Personal Finance
The country took time to recognize some VIPS this week: Teachers and Nurses, and Mothers will have their day on Sunday. “Thank You” seems an inadequate expression of our gratitude, especially now! You (teachers) inspire me with your energy, creativity, and agility in providing quality instruction and heartfelt support for your students during this challenging time.
And now for the reading list:
Unemployment
Unemployment reached historic levels in April of 14.7%....
NEW! NGPF Economics Resource Directory
Thanks to NGPF Fellow James Redelsheimer of Robbinsdale Armstrong High School (Plymouth, Minnesota) for his work creating this comprehensive directory for teachers looking for NGPF resources that weave Economics and Personal Finance together. By categorizing 150 NGPF resources into 11 Economic topics, this directory makes it easy for Economics teachers to find activities that are current, relevant and engaging for students.
Here's the table of contents (click to go directly to the...
Reading List for April 24-26
Happy Weekend! Hope you all will enjoy spring weather, while here in the Cleveland area we have seen snow flurries for the last three days!
Economics/Employment
Pick your medium for info on the new unemployment claims figure yesterday from Yahoo Finance: Video, or an article on unemployment explaining “continuing claims”—which lags by one week.
Have we bottomed out? (Will things stop getting worse, even if they don’t get better?) (Yahoo Finance)
USA...
Chart of the Week: What jobs will be most impacted by the coronavirus?
From McKinsey:
Questions:
Thinking about the companies/industries in your community, how much of an impact will COVID-19 have on your local economy?
There were about 159 million jobs in the U.S. economy in February. McKinsey has provided a range of overall jobs that are vulnerable at the top of the chart. What percent of overall jobs in the economy are considered vulnerable?
McKinsey indicates that 2-3 million new jobs will be created in the short-term. What types of jobs do you think...
Chart of the Week: What is this chart measuring?
Chart of the week now in presentation form with a chart, some questions and references. Enjoy!...
Interactive Monday: Fastest Growing Jobs since 1970
From Flowing Data comes a chart showing trends in job growth and decline over the past 4 decades. As you move the cursor over the graph, you can see what jobs correspond to the lines on the graph.
Here's a snapshot (click to go to the interactive chart)
Questions:
Three fastest growing jobs since 1970? Three jobs that have seen greatest decline?
What jobs were most impacted by the Great Recession of 2008-09? Have they recovered to their pre-recession levels?
Focus on the last...
Question of the Day: What percent of job seekers lie during the hiring process?
Answer: 78%
Here were their five most common lies:
Mastery of skills they barely use (like Excel or a foreign language) - 60%
Working at company longer than they did to omit another employer - 50%
Having a higher GPA by 1/2 a point: 49%
Title inflation: 41%
Earning a degree from a prestigious university when they were a few credits short: 39%
Questions:
Do you think it's ok to lie about your skills if you really, really want a job? Does it depend on what you are lying about?
What's the...
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