Posted by: Adam McCann
“Credit pulls” are the same thing as “credit inquiries” and “credit checks.” All of these terms refer to the act of checking a credit report. You can pull your own credit report, for example. As can a lender, employer, landlord or insurance company, under the right circumstances.
Pulling your own credit report will not hurt your credit standing in any way. In fact, self-credit pulls could help improve your score if you notice opportunities for improvement or errors that you can dispute. And you can check your latest TransUnion credit report for free on WalletHub, the only site with free daily updates.
Check Your Latest Credit Report – 100% FreeNot all credit pulls are created equal, however. There’s a difference between so-called soft credit pulls and hard credit pulls, for one thing. And for your credit score’s sake, it’s important that you understand the difference. You can find everything you need to know about credit pulls below.
Who Can Pull Your Credit Report?Besides you, there are a number of individuals and groups that can pull your credit report to evaluate how risky it is to do business with you. They include:
- Lenders – Anytime you apply for a credit card or loan, the financial institution issuing it will do a hard credit pull. They need to review your credit history to determine whether you’re a good candidate to borrow. Most credit card companies will also do a hard pull if you request a higher credit limit.
- Landlords – Renting an apartment counts as borrowing in the sense that you’re receiving a service – a place to live – in advance of paying your monthly rent. And given that it’s often very difficult to evict tenants once they’re in, landlords typically want to make sure applicants are responsible borrowers.
- Auto Financing & Insurance Companies – Better credit means higher approval odds and lower interest rates. According to WalletHub research, people with fair credit can expect to pay over $6,000 more in interest on a 5-year car loan than folks with excellent credit, And people with no credit pay about 65% more in car insurance premiums than drivers with excellent credit.
- Utility companies – We generally pay for household utilities – electricity, water, gas, etc. – after we use them. So it makes sense that the companies providing these services are interested in our experience borrowing.
- Phone service – Much like in the case of utilities, you consume phone service before being charged at the end of the month.
- Employers – Your employer can’t see your full credit report, but if you give them permission they can get an abridged version from the credit bureaus. They use this as part of background checks, and it can serve as a sort of additional character reference.
It may feel a bit daunting to know that all these different groups could access your credit information. But it’s important to understand that their pulls will only affect your credit standing in certain situations. Below, we’ll explain when that can happen.
Hard vs. Soft Credit Pulls| Category | Hard Credit Pulls | Soft Credit Pulls |
| Credit Impact | Can temporarily lower your score Many inquiries in a short timeframe increase the damage. | None |
| Happens When… | You apply for a credit card of loan You request an increase to your credit limit | You check your own credit report or score Employer runs a background check Credit companies pre-screen you for offers Creditors perform basic account maintenance |
| Permission Required? | Yes | No |
| Legitimate Reason Needed? | Yes | Yes |
Because hard pulls have the ability to affect your credit standing, you need to give explicit permission for anyone to make a hard credit pull. Actions sometimes count, though. By applying for a credit card, for instance, you’re giving the issuer permission to confirm you meet the card’s approval requirements. And that requires a hard credit pull. But no one can just do a hard pull without your knowledge. If you see an unauthorized inquiry bringing down your score, you can dispute it.
Soft pulls don’t require permission, but the puller needs to have a legitimate reason. For example, lenders generally use soft pulls to pre-approve people for credit card offers. So no need to worry about random strangers snooping around your private info.
For more information, we suggest reading WalletHub’s article on soft vs. hard credit inquiries.
What Do Credit Pulls Show?The type of credit report that a credit pull reveals depends on the situation. Lenders will get your full credit report, as can you from certain free credit report websites. This includes AnnualCreditReport.com and WalletHub. Other free credit report sites only provide summaries, unfortunately. Employers will also see a basic version of your credit report, if you apply for a job that requires financial responsibility or a security clearance.
Your credit report itself shows a lot of information, including: 1) Personal Information; 2) Credit History; 3) Credit Inquiries; and 4) Public Records.
Credit Pulls Databases: Not An Effective ToolSo-called “credit pulls databases” compile anecdotes from consumers about which credit bureaus certain lenders pull from, what credit score you need to get approved for certain credit cards, and what credit limits those cards provide. They are not effective or reliable because the reports are not verified or vetted in any way. And there aren’t enough of them for an accurate sample. What may be the case for one person may be completely different for another similar applicant.
Although credit pulls databases are a bust, you can learn all you need to know from WalletHub’s free personalized credit analysis. We’ll tell you how to improve your credit, how long it will take and which credit cards offer the highest approval odds.
Image: buchan/Shutterstock
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Posted by: Adam McCann
The terms “credit report” and “credit score” are often mentioned together, and for good reason. But they’re not quite the same thing. A credit report is a summary of your track record as a borrower. It lists the loans and lines of credit that you’ve used, any collections accounts or tax liens in your name, personally identifying information, and other key info. A credit score is basically a credit report’s contents expressed as a number. In other words, it’s shorthand for what your credit history says about how risky it would be lend money to you.
Both credit reports and scores are available to consumers for free. But not free credit websites aren’t all the same, either. WalletHub, for example, is the only site that offers free credit scores and reports that are updated on a daily basis.
Check Your Latest Credit Report & Score – 100% FreeYou can learn a lot about the differences between credit reports and scores just by examining your own. But we’ll get you started by comparing them and offering some advice on how to improve both, below.
Credit Reports vs. Credit Scores – Key Differences| Type | Credit Report | Credit Score |
| Description | Detailed summary of your borrowing history | Grade for your credit history, indicating your risk as a borrower |
| Top Providers | TransUnion Equifax Experian | Fair Isaac Corporation (FICO) |
| What It Consists Of | Personal information Credit History Credit Inquiries Public Records | Three-digit number representing the contents of your credit report
Sometimes listed with corresponding rating (bad, good, etc.) |
| Available For Free? | Yes | Yes |
Credit bureaus are the companies that produce credit reports. The ”big three” major credit bureaus are Equifax, Experian and TransUnion.
Credit bureaus are not, however, responsible for creating credit scores. Specialized companies – most notably, FICO and VantageScore – do that. Interestingly, though, VantageScore is an independent company that was started by the “big three” credit bureaus.
The fact that there are three major credit bureaus and two major credit-scoring companies also means there isn’t one singular credit score. That’s a common myth, but there are actually hundreds of credit scoring models in use. The most common credit scores do all use the same 300-850 range, though.
Improving Your Credit Reports & Scores
All credit scores are based on the contents of our major credit reports. So if you improve your credit report, your score will also rise. Two major ways to do that include disputing any errors on your reports, as well as adding positive information through actions like on-time payments and low credit utilization.
Finally, signing up for a free WalletHub would be a good move for both your credit report and score. WalletHub is the only site that gives you free credit scores and reports that are updated on a daily basis. You’ll also benefit from personalized credit improvement advice. This will tell you not only how to improve your credit, but also how long it will take.
For more tips, you can also check out WalletHub’s in-depth credit improvement guide.
Image: Alena Dubinets/Shutterstock
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Budgeting for the birds? Put a new spin on it with this app. We’ll show you how tracking your money daily could beat your old budgeting ways in our DollarBird Review.
About Dollar Bird
DollarBird is a budgeting application, but with a twist. It uses a calendar system to track your spending. This is very different from other budgeting apps that track spending by categories. The basic concept of DollarBird is daily cash management. That can make it the perfect solution if you’ve tried using budget apps before, but without much success.
DollarBird is a cloud-based platform that’s available for iOS and Android, as well as the web. Not only does it allow you to track your income and expenses, but you can also forecast cash flow. Another interesting departure from the norm for budget apps, no bank account information is required. All data is manually added to the app by the user.
DollarBird is also in the middle of a transition. They’re going from the original version to DollarBird 3. It will be an upgraded version, however you can migrate from the original version–currently being referred to as DollarBird Classic–at any time.
DollarBird, with its calendar based budgets and its manual inputs, differs from other budgeting apps. For example, Personal Capital also offers both a free and paid version. But both versions center strongly on investing, with budgeting only as a secondary service (mainly through the Cash Flow Analyzer feature). Mint, on the other hand, is a pure budgeting app. It has only one version, and it’s free. It also enables you to import your information automatically. The other major competitor, YNAB, offers only a paid version. But it has more innovations, like its “Age Your Money” strategy of setting up your budget so that you live off of last month’s salary. It also offers the choice of both manual or automatic input.
How DollarBird Works
DollarBird is available through the App Store for iOS, and on Google Play for Android.
Once you download the app, you use a three-step process:
Step 1. “Check your pockets and bank accounts”
In this step you enter how much money you have in your bank and other sources of income.
Step 2. Enter your salary and other recurring transactions
Next, set your salary and usual monthly expenses to be recurrent so you don’t need to add them again. At this point, you’re ready to project your cash flow. You can add income and expense categories even after the initial setup.
Step 3. Follow through
In this step you develop a habit of adding your transactions as you make them. Or more specifically, you have to confirm that your recurring transactions actually happened (see “Unconfirmed Transactions” below for an explanation as to why this is necessary). Once again, the DollarBird app is completely manual, so you will have to do this on an ongoing basis. You will also need to correct variances on transactions that vary from the expected amounts.
The app has an AI-based auto capability that will sort your expenses into categories. But if you don’t agree with where an expense has been placed, you can always override the automatic system. You can even add new categories, and delete ones you don’t use, as you deem necessary.
Unconfirmed Transactions
This is where you’ll find planned expenses and income items in the DollarBird app. Once you set up a transaction as recurring, you simply confirm the transaction each time an income source is received, or an expense is paid. The change will then be reflected in the actual balance of your bank account.
Exporting Data
DollarBird also enables you to export your data. A CSV file will be sent to you by email.
Budgets
This is a bit of a contradiction. There isn’t a way to set a cap for categories yet, but it is being considered for the near future. Users are still able to see their average spending on categories each month, but are not able to allocate a dollar amount in advance. So at the moment, DollarBird is a budgeting tool without the option to manually set a budget. Though this is largely offset by the Projected Balances feature (more on that below).
DollarBird Calendars
This is a central feature of the app. When you’re in the calendar view, you can swipe to the month of your choice (current, past or future). An overview of your spending will be displayed on the dashboard. It will include expenses by category, and also provide comparisons with past month averages. You can expand each category to pull a list of transactions within that group.
But perhaps on a more practical level, each calendar will give you a projection of your likely month-end income and spending based in the latest month-to-date trends. The month-end projection will change a little bit each day as you adjust transactions.
Projected Balances
By tapping on a future date, you’ll create projected balances. You can get projections for all 12 months of the year. The projections will be based only on confirmed transactions. If they’re unconfirmed, you should either confirm them as paid, or delete them. The confirmed transactions will form the basis of projected balances for whatever future month you want to pull up.
Teams
This is part of collaborative finance management. Under the paid version of the app, you can create an unlimited number of teams, up to three members, each of whom can be part of any one of those teams. Team members are able to share and contribute to your calendars, which means they should also be members of DollarBird. But even if they aren’t, you may still be able to add them on your team.
Notifications
Like the missing budget capability, DollarBird currently does not allow for reminders and alerts. However, DollarBird does indicate it may add them in the future.
Customer Service
This seems to be another weak spot in the DollarBird app. Customer service seems to be extremely limited. Meaning it’s limited to the “Submit a Request” page, which presumably is email contact. The company is also based in France so it’s reasonable to suspect that responses will be delayed by at least several hours.
No information is given on the website in regard to contact by phone or live chat, nor is a direct email address listed. Even a search on the Help Center page failed to produce any further information.
DollarBird Plans and Pricing
DollarBird offers three different plans:
The Free Plan
There’s no charge for this plan, but you can upgrade to the Pro or Business versions at any time. The Free version comes with one calendar. It’s an excellent way to see if the app works for you before committing to purchasing the paid plan.
The Pro Plan
This is the advanced collaborative option for partners, families, freelancers, and just about anyone else. This version comes with 20 calendars, and you can have three team members. The annual fee for this version is just $25.99 per year, or $2.17 per month.
The Business Plan
This version offers collaborative financial tracking and planning for businesses and enterprises. It provides unlimited calendars, and allows you to add unlimited team members. No price is specified for this plan, as it will depend upon the type of business and the number of users and calendars required.
DollarBird Pros and Cons
DollarBird Pros:
- The price is right on this app. They have a free version with somewhat limited capability, but even the paid version is reasonably priced at just over $2 per month.
- A business app is available for small businesses, that’s readily expandable with unlimited teams and calendars. It could be a useful tool to help a small business track their finances.
- The DollarBird Calendar feature will work better for people who prefer daily tracking to longer terms. It also may serve as a valuable visual presentation of your financial situation.
DollarBird Cons:
- DollarBird lacks a budget-setting capability, which is most peculiar for a budgeting app. But they seem to work around this missing link with future projections.
- All transactions have to be added and confirmed manually. There is no capacity for automatic populating of transaction activity, so this app appears to be a bit labor-intensive.
- No alerts are provided when a bill due date is coming up.
- There seems to be a lack of simple customer service capability. Contact is limited to the “Submit a Request” page.
Should You Sign Up for the DollarBird App?
DollarBird is one of the simpler budgeting apps available. The use of calendars is especially intriguing. They can be a real advantage for people who are more comfortable with visual presentations, and the simplicity of small, day-to-day transactions. The app avoids overwhelming the user with a lot of numbers, charts and graphs.
The downside of this app is that it requires a lot of attention. You’ll likely need to use the app every day, so that you can manually confirm and/or modify your transactions. It gives you the ability to enter recurring transactions for both income and expenses. But even when those transactions are entered upfront, you must still confirm that they actually took place. In addition, if your transactions vary even a little bit from the projected amounts, you’ll be making a lot of corrections as you use the app.
The lack of a budgeting capability is curious, but it looks like that is largely overcome by the future projections capability.
Probably the best strategy with DollarBird is to work with the free version, and determine your comfort level. If you like the format and the features it offers, and it works for you on a personal level, you can then go on to the paid version. And at just over $2 per month, it’s a solid deal.
To sign up for the app, check out the DollarBird website.
Topics: Money ManagementThe post DollarBird Review – Budgeting With a Twist appeared first on The Dough Roller.
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Posted by: Adam McCann
Job hunting is never easy. Between searching for employment openings, updating résumés, contacting references and preparing for interviews, it’s hard work. Luckily, the number of opportunities available is growing, with over 164,000 new jobs added in April 2018 alone and the unemployment rate at the lowest it’s been since 2000.
But finding a job can be even harder when you don’t know where to begin looking for work, which is why narrowing your search area can be important. And because that part requires a bit of research, WalletHub did the homework to help you focus on the most important task: finding your dream position in a place you’ll love.
In order therefore to determine the most attractive states for employment, WalletHub compared the 50 states across 29 key indicators of job-market strength, opportunity and a healthy economy. Our data set ranges from employment growth to median annual income to average commute time. Read on for our findings, methodology and insight from a panel of researchers.
For a more local breakdown of the job market, check out WalletHub’s ranking of the Best Places to Find a Job.
Main FindingsEmbed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/35641/geochart-statejobs.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2H6dMLa>
Best States for Jobs|
Overall Rank (1 = Best) |
State |
Total Score |
‘Job Market’ Rank |
‘Economic Environment’ Rank |
|---|---|---|---|---|
| 1 | Washington | 71.45 | 7 | 1 |
| 2 | Colorado | 70.04 | 1 | 19 |
| 3 | Minnesota | 65.13 | 4 | 18 |
| 4 | Utah | 64.00 | 2 | 21 |
| 5 | New Hampshire | 62.41 | 15 | 9 |
| 6 | Tennessee | 61.84 | 14 | 10 |
| 7 | Vermont | 61.34 | 16 | 11 |
| 8 | Massachusetts | 61.23 | 5 | 29 |
| 9 | Florida | 60.67 | 17 | 13 |
| 10 | Texas | 59.96 | 25 | 6 |
| 11 | Nebraska | 59.74 | 20 | 16 |
| 12 | North Dakota | 59.59 | 30 | 3 |
| 13 | South Dakota | 59.21 | 26 | 7 |
| 14 | New Jersey | 59.14 | 31 | 4 |
| 15 | Nevada | 59.13 | 22 | 14 |
| 16 | Wisconsin | 59.13 | 8 | 27 |
| 17 | California | 58.81 | 10 | 26 |
| 18 | Virginia | 58.42 | 9 | 30 |
| 19 | Maryland | 57.79 | 3 | 40 |
| 20 | Delaware | 57.73 | 24 | 17 |
| 21 | Rhode Island | 57.35 | 27 | 15 |
| 22 | Kansas | 57.13 | 35 | 8 |
| 23 | Connecticut | 56.97 | 32 | 12 |
| 24 | Maine | 56.84 | 12 | 33 |
| 25 | Arizona | 56.36 | 19 | 28 |
| 26 | Iowa | 56.06 | 21 | 23 |
| 27 | Idaho | 55.85 | 13 | 37 |
| 28 | New York | 53.80 | 23 | 31 |
| 29 | Oregon | 53.08 | 6 | 48 |
| 30 | Georgia | 52.72 | 11 | 44 |
| 31 | Illinois | 51.81 | 40 | 20 |
| 32 | Hawaii | 50.09 | 18 | 45 |
| 33 | Indiana | 49.80 | 33 | 38 |
| 34 | Michigan | 49.79 | 36 | 34 |
| 35 | Montana | 49.16 | 43 | 24 |
| 36 | Missouri | 49.13 | 34 | 39 |
| 37 | Ohio | 48.93 | 38 | 36 |
| 38 | South Carolina | 48.60 | 39 | 35 |
| 39 | Oklahoma | 48.00 | 44 | 25 |
| 40 | Arkansas | 47.88 | 28 | 43 |
| 41 | Wyoming | 47.06 | 49 | 2 |
| 42 | North Carolina | 46.41 | 29 | 46 |
| 43 | New Mexico | 44.60 | 46 | 22 |
| 44 | Alaska | 44.05 | 50 | 5 |
| 45 | Alabama | 43.52 | 42 | 42 |
| 46 | Pennsylvania | 41.94 | 41 | 47 |
| 47 | Louisiana | 41.38 | 47 | 32 |
| 48 | Kentucky | 40.18 | 37 | 50 |
| 49 | Mississippi | 39.92 | 45 | 41 |
| 50 | West Virginia | 33.61 | 48 | 49 |
The future of U.S. jobs relies on many factors, including policy and innovation. To gauge the possible effects of each and find ways to strengthen the economy, we asked a panel of experts to share their thoughts on the following key questions:
- What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened?
- What policies can the Trump administration pursue to make good on its promise to increase jobs in coal and manufacturing?
- What fields are expected to experience the highest rate of job growth in the next 10 years?
- How much longer will the job report continue to show growth?
- How can local policymakers help diversify and strengthen local economies?
- Are there any models that have proven successful for retraining displaced workers?
Toni A. Higgs Director of the Career Resource Center at Jacksonville University
Steven Glazer Professor of Economics at Norwalk Community College
Sarah H. Bana Ph.D. Candidate in Economics at University of California, Santa Barbara
Stan Gully Professor of HRM in the School of Labor and Employment Relations at Pennsylvania State University
Sara Haviland Senior Researcher in the Education and Employment Research Center at Rutgers School of Management and Labor Relations
Russ Coughenour Assistant Vice President of Career Services at The University of South Florida
Rick Roberts Director of the Career Services at University of North Florida
Neil Meredith Dana Professor of Business and Assistant Professor of Economics at West Texas A&M University
Gordon Walter Adjunct Instructor in the School of Business at Washburn University
Dianna Cundiff Associate Director of the Center for Career Development at University of Evansville
Dave Ulrich Rensis Likert Professor of Business in the Ross School of Business at University of Michigan and Partner at the RBL Group
Craig Kerr Professor at California State Polytechnic University at Pomona
What fields are expected to experience the highest rate of job growth in the next 10 years? I recently reviewed the Florida Department of Economic Opportunity to identify jobs which will be the “Hot jobs” in Florida over the next 10 to 15 years. The criteria according to the FDEO for this designation is “job growing faster than the average for all occupations and have at least 50 annual openings… .” We utilize this information to help our students identify areas of opportunities when considering the all-important decision on what field of study to choose. There was no surprise that 11 of the top 20 are in the Health care field with Nurse Practitioners capturing the top spot. The Health Care Industry is currently and will continue to be in demand. I recently spoke to a group of second degree seeking students who are beginning their second careers in the Nursing profession. I asked why nursing? The answer was always, “Because I know I will be able to get a job and the pay is good.” Other areas in high demand and will continue to grow are in the field of computer science, specifically in fields such as cybersecurity and web development. In the Career Resource Center we track the Employers requests as they seek students to fill internships and current job openings. As we sift through the numerous requests, the top spot goes to Marketing/Social Media positions followed closely by Analyst, Engineers, Web design/management, and Sales positions. Analyzing big data whether it be in the health field or in business is currently in demand and will continue to grow over the next 10 years. I was speaking with a high-level executive in the Finance industry a week ago and he mentioned they cannot find enough applicants to fill open positions in entry level management. I expect this industry to continue to grow to a “hot job” over the next 10 years. Steven Glazer Professor of Economics at Norwalk Community College 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? It is very difficult to predict which specific jobs are threatened due to automation, since technology is advancing by leaps and bounds and causing the displacement of workers in numerous industries. Recent reports have shown that millions of retail jobs may be lost along with baggage handlers due to automation. However, as some of these jobs are lost, as we have evidenced in the past, new jobs will come into existence. What needs to occur is ensuring that the number of new jobs created will outweigh the numbers of positions lost. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? To help increase jobs in any industry, whether it be coal and manufacturing, or any industry for that matter, the key is providing incentives to the companies to want to encourage them to keep their production in the nation and then expand their production domestically. One of the tried and true methods to accomplish this is through financial incentives, whether it be tax cuts, as the administration has discussed, or some other form of financial benefit provided to these companies. What fields are expected to experience the highest rate of job growth in the next 10 years? This is never easy to predict, but one of the areas that has been cited often over the past several years and continues to be cited by agencies like the Bureau of Labor Statistics has been healthcare-related jobs, reflecting the longer life expectancy of the population and the increased needs people have for this as they age. How can local policymakers help diversify and strengthen local economies? This depends upon the community. Are there any models for re-training displaced workers that have proven successful? A number of articles have come out indicating that job re-training programs are not successful. Many of these programs have been geared to individuals who have lost jobs in manufacturing and other industries where the jobs have been relocated into burgeoning fields, like health care. The country has a great resource in institutions like community colleges which have such programs available to these displaced individuals at a reduced cost. As technological advancements occur, and workers’ skills may no longer be needed, this is a viable option that should be relied upon to help individuals secure employment and maintain their standard of living. Sarah H. Bana Ph.D. Candidate in Economics at University of California, Santa Barbara 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? Occupations that comprise of mostly routine tasks are at greatest risk. Put differently, the more your occupation can be codified, the easier it is to build those rules into a machine that can do your job for you. Occupations that require the most creativity, occupations in which success is more difficult to measure, and occupations that take advantage of the massive influx of data now collected are less threatened. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? In general, policy prescriptions to increase low-skilled jobs in coal and manufacturing will be short-term fixes, bandages for a greater problem. The manufacturing sector in the United States is becoming leaner, using industrial robots and high skilled workers to produce more with fewer workers. What fields are expected to experience the highest rate of job growth in the next 10 years? Fields that take advantage of the aging population in our country, such as healthcare, are likely to experience job growth. Fields that take advantage of new data to improve processes and make better decisions will experience rapid growth. Some examples of these fields include data science, genomics, precision agriculture, cybersecurity, and urban planning and development. Are there any models for re-training displaced workers that have proven successful? There is evidence that training in more technically oriented fields, such as math or science, or training in healthcare fields have had greater success, and have been able to better offset earnings losses. Retraining is costly, and currently, government programs do not adequately support long-term, high-return training. If displaced workers are liquidity constrained, this is a problem that limits our understanding of the potential benefits of retraining. Stan Gully Professor of HRM in the School of Labor and Employment Relations at Pennsylvania State University 
What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? The forces at play that are reducing jobs in these sectors cannot be stopped by policy decisions. You couldn’t have used policy to stop the loss of jobs in horse carriage manufacturing once automobiles hit the scene. Likewise, you couldn’t have saved typewriter manufacturing jobs with policy once computers arrived. It is true that some manufacturing jobs are being outsourced but the greater threat for the future is automation. Even overseas, where the jobs are outsourced, automation is replacing workers in manufacturing jobs of all types. Renegotiating trade agreements will not replace jobs lost to technology and automation. In a similar sense, some coal jobs will never return because of cheaper alternative sources of energy and these alternative sources are generating new jobs. Coal is dropping in demand because there are increasing sources of cheap, clean energy that don’t require combustion of coal. Removing environmental protections for streams and rivers to jump start the coal industry won’t bring back the jobs because their loss is due to cheap and clean energy alternatives. The best that can be done to save jobs in the coal industry is to invest in science and research on clean coal technologies to keep demand higher for coal as a source of clean energy. Another alternative is to recognize that these forces are not going to subside. Policymakers could invest in reskilling people who formerly worked in the coal and manufacturing industries to enable them to do new and different types of work. For example, this is an interesting story about Appalachian miners learning to code. What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? In the near future we will see automation continue to replace jobs involving warehouse work, basic manufacturing (e.g., welding, drilling, etc.), packaging, and food preparation. However, autonomous vehicles will begin to replace taxi drivers as well as drivers for Uber, Lyft, and other such occupations. It’s a short step from that to trucking and delivery services. Very soon, transportation will become highly automated. All jobs are facing the potential for automation. Machines and algorithms do most of the trading on Wall Street. Air Force Top Gun pilots were beaten by AI running on a $35 Raspberry Pi computer. Most recently, Google’s AlphaGo beat a top ranked Go player. This is an impressive feat because you can’t simply program all the moves into a computer due to the nearly infinite combination of possible moves. We can see machine learning is taking over tasks that require deep levels of human expertise. However, many jobs requiring human expertise and creativity are relatively safe because they are the least threatened in the near future. Jobs that involve creation and implementation of technology at a deep level will remain robust in demand for the foreseeable future. Interestingly, I think certain jobs such as masonry, plumbing, electrical work, etc. will be safe until we can create robots capable enough to replace us. But that won’t be for a while. What fields are expected to experience the highest rate of job growth in the next 10 years? According to the Bureau of Labor Statistics, many health oriented service jobs (e.g., medical assistants, personal care aides, registered nurses, home health aides) are expected to show robust growth between now and 2024. As an aside, many of these jobs will not easily be automated until robots have reached a higher level of flexible implementation. Robots are currently effective for clear, programmable, routine tasks but these other types of jobs will require robots that have increased artificial intelligence and more humanlike dexterity. Robots are building such capabilities at an exponential rate but we are not there yet. My understanding, however, is that increasing numbers of people are entering some of these fields, potentially creating an excess of labor supply for such workers in the future (e.g., physician assistants, physical therapy, etc.). Also, scientific and technology based jobs are expected to grow and remain in demand with a shortage in the supply of talent for these fields. How can local policymakers help diversify and strengthen local economies? Policymakers frequently seem to hesitate to genuinely support education and reskilling of the workforce. However, the world is evolving at an exponential rate. To stay relevant, all workers need to evolve their skill sets and competencies. We also need to be prepared for the idea that our occupations may become less relevant or automated as technology changes the way work gets accomplished. I think about that issue in higher education all the time. If we want economies to stay strong, we need people to have spending power. This comes from healthy occupational employment for members of that community. This does not mean that people have to work two or three part time jobs at minimum wage to make ends meet. We have to think carefully about where opportunities for job growth exist and support learning, education, and reskilling of the workforce to meet the demands and opportunities of this growth. People who are working 50 hours in multiple jobs to pay the bills don’t have time to get reskilled for the future. Policymakers can help by providing support and opportunity for such reskilling. Are there any models for re-training displaced workers that have proven successful? I like the story of reskilling miners for technology jobs. I am uncertain about how successful it has been but press is generally positive. Note that the 22-week training took place with a grant from the U.S. Department of Labor. This is precisely what I mean when I say policymakers can provide support and opportunity for reskilling. Pittsburgh is an example of a place that was built around steel and manufacturing but after these industries faded in the 1980s, Pittsburgh went through a kind of revitalization. Some people have argued that Pittsburgh’s revitalization is because of investments in the medical schools and technology research programs in the Pittsburgh areas in the 1960s and 1970s. Also, philanthropic investments by the wealthy have helped. Ultimately, however, Pittsburgh had to reinvent itself along with the jobs it could offer people in the community. Sara Haviland Senior Researcher in the Education and Employment Research Center at Rutgers School of Management and Labor Relations 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? Automation has been occurring for centuries, and our world is constantly being shaped and reshaped by technological advancement that seemed previously unimaginable. It is therefore difficult to predict with much certainty which jobs are future-proof and which are at great risk; plenty of jobs that once seemed irreplaceable have gone on to history’s graveyard. When we discuss automation, we can only address current and near-future technology with any level of confidence. It is important to note that we do not automate jobs per se, but rather tasks. A job that is comprised of many tasks may see part of its work go to machines, but that may increase other tasks or add new tasks to facilitate these machines. In short, the job may change rather than go away. That said, automation is currently best at addressing tasks that require strength, or are routine or repetitive, and are easily addressed with computer codes. Tasks that are physically unpleasant or dangerous attract a lot of attention from automation innovators. This is why we see the automation of tasks in many factories. We see less automation in tasks that require tacit knowledge, or high interpersonal skills. A medication dispensing machine may give a nurse the proper dose of medications to dispense to a patient, automating one task of the job, but that nurse is the one that notices that Mr. Jones in Bed 3 is acting a little off today and may need further medical attention. The safest jobs today are likely in care work, be it through health care, child care, or elder care; though tasks within those jobs will likely continue to be automated (e.g., the medication dispensing machine), there are fewer tasks in those jobs that we have the capacity to replace with technology right now. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? One major strategy that the administration can deploy is to expand support for training and education. Today’s manufacturing shops are evolving toward higher skilled tasks for workers, a process that will continue as automation removes the more repetitive or physically demanding processes from human hands. The machinery involved can be costly, and employers want to see workers who have the skills to operate their equipment effectively and without making costly mistakes. In short, employers want more skilled operators. In our research with manufacturing, we often hear employers say that there are not enough skilled workers to meet their demand. This has implications for their abilities to expand operations, and may ultimately hinder growth or make the operations vulnerable to relocation. The specialized training for these jobs often takes 1-2 years, and the positions that they prepare for often translate to solidly middle class incomes. Better still, training programs with an eye to the future can create stackable credentials so that individuals who complete that 1-2 year training can return in the future well on their way to college degrees. In this ideal model, workers have more options, should the needs of the industry change, or should they decide to move toward the business and management side of the operations. Providing support for this model has great potential to not only place workers in the near term, but to help them in the long term as well. What fields are expected to experience the highest rate of job growth in the next 10 years? The safe bet is on healthcare occupations. The U.S. Bureau of Labor Statistics tracks this data and regularly publishes employment projections on their website; 4 out of 5 of their projected fastest growth jobs are in direct care work (occupational therapy assistants, physical therapist assistants, physical therapist aides, and home health aides). It is important here to remember that high growth rates do not necessarily translate to large fields of open jobs, as a tiny field such as wind turbine service technicians will likely more than double in the next decade (high growth rate), but for every one new job in that field, home health aides will see 72 new jobs. Considering the sheer volume of jobs projected to enter the economy, health care has the potential to be massive. There are several factors at play here, but largely we can attribute this increase to our rapidly aging population and our rapidly improving medical advances. As a society, we live longer but with more long-term conditions that require ongoing management and support. One important caveat: as the future of the Affordable Care Act and its possible replacements remain unclear at this moment, there are great implications for how care will be delivered. Just as an example, we may see decreased supports for in-home managed care, which would change the projections for home health aides. The ACA also changed some elements of how the health profession is paid, emphasizing health outcomes as opposed to health procedures. This increased opportunities for new classes of public health work such as community health workers, who serve as intermediaries between the health care system and the community; further changes could remove this fledgling field, or create new fields entirely. How can local policymakers help diversify and strengthen local economies? K-12, higher education, the workforce development system, and employers often operate in silos. Finding meaningful ways to bridge these institutions can strengthen the local workforce, improving the area’s capacity to attract growth industries with good jobs. Sector strategies are one way that state and local areas are doing this. Sector strategies are industry focused partnerships that bring employers, government, education, training, economic development, labor, and community organizations together to focus on the workforce, education, and training needs in a particular industry in a regional labor market. This strategy can be used at both the state and local level. Sector strategies can address current and future skill needs. They provide a means to engage with industry across traditionally defined town, county or state boundaries. They can also be a mechanism to better align and use programs and resources, reducing inefficiencies. Are there any models for re-training displaced workers that have proven successful? The Department of Labor’s Trade Adjustment Assistance Community College and Career Training Grant Program (TAACCCT), which is drawing to a close, seeks to create programs that can place displaced workers into growth jobs with stable pay through training programs that could be completed in 2 years or less. In its four year run it touched 60% of U.S. community colleges, offering an opportunity to assess what works (and what doesn’t). Though programs are still in the process of implementation and therefore any findings are preliminary, some factors that have great promise include:
- A high-touch model of advising. Career navigators, job developers, and career coaches are part of an arsenal of college professionals offering intensive advising services to help students from recruitment up to job placement.
- Modularized curricula, stackable credentials. Breaking programs down into elements that nest into further certificates and degrees creates on and off ramps that can make schooling more manageable for adult learners.
- Employer engagement. Partnering with local industry groups and employers helps schools to create curriculum that meets employers’ needs, and creates opportunities for employers to meet and recruit students.
- Sector Strategies as discussed above.
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? I would have to say Accounting is somewhat threatened by advancements in technology and software. Of course, jobs in manufacturing are being replaced by advances in robotics, but that has been happening for years now. I also think retail is in serious trouble. We’ve seen recent news reports of declines in employment in retail and that is due to the growth in online (technology) retailing. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? I would say to incentivize the oil companies to start promoting coal as a viable source of energy again. Problem is coal is viewed as dirty and an environmental hazard and it is hard to get. Environmentalists don’t like certain types of mining processes, so coal is complicated. Taxing imports into the U.S. would likely keep manufacturing jobs here in the States. If there was an equal playing field in terms of prices for manufactured goods in the U.S., I think we could successfully compete. But allowing companies to send manufacturing jobs to Mexico (and elsewhere) where labor is a lot less expensive and then not taxing those goods/services coming back into the U.S. seems a real issue and really just not fair. What fields are expected to experience the highest rate of job growth in the next 10 years? Anything to do with data analysis. Companies have more data than they can sift through, so business analysts, data analysts, healthcare informatics and any job that uses data driven decision making will grow. Cybersecurity is exploding and will continue to explode, as companies today cannot find enough talent to fill their needs for securing the data being gathered. Supply chain, nursing and engineering related disciplines all have excellent supply and demand numbers working in their favor. In other words, demand is high for these types of skills while supply is moderate to low. How can local policymakers help diversify and strengthen local economies? Encouraging or incentivizing a broad range of employment options in the community and not just one industry. Communities have to hedge their bets against recessions so that a downturn in say “manufacturing” doesn’t impact the local community disproportionality. I think of some of the rust belt cities like Lansing or Flint, Michigan that were so heavily invested in the automobile manufacturing industry that when times got bad, they couldn’t recover. I think smart cities of the future leverage against that by incentivizing a variety of workplace options and industries. Are there any models for re-training displaced workers that have proven successful? There are two answers here, one for degreed people and one for non-degreed people. We are seeing a lot of action in the “coding” industry for recent graduates from all majors. Companies are providing “boot camps” for critical skills training and then offering job opportunities for the boot camp graduates. Large, fortune 500 types are using these companies to source candidates with specifically designed coding skill sets for their company and industry. For the non-degreed, each community has various types of retraining incentives through local technical schools and trade schools and others that can be very effective. Many times employers are incentivized by sourcing candidates through these retraining programs which helps put marginally skilled workers back on the job. Rick Roberts Director of the Career Services at University of North Florida 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? Most of the manufacturing jobs (assembly lines, auto, etc.) have been taken over by automation and robots. The Service Industry (health care, counseling, social services, physical therapy, etc.) are lease threatened since it is difficult for a robot to provide this type of personal care. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? Doing what he is doing -- taking away all of the environmental regulations and policies so that industries can burn coal and other cheaper forms of energy. Manufacturing is much more difficult. In the U.S., a company would pay its manufacturing workers $30 per hour and in Mexico they can pay them $3 per hour -- a huge difference. I don’t think any policy can change that fact. He can give lots of tax breaks and incentives to the companies to encourage them to stay or come back to the U.S., and maybe those incentives could make up the difference in salaries/wages. What fields are expected to experience the highest rate of job growth in the next 10 years? Health care for sure. With 76 million baby boomers hitting retirement age, there will be increased need for health care. As health care costs rise, work will increasingly be delegated to lower paid workers. Tasks previously performed by doctors, nurses, dentists, or other health care professionals will be performed by physician assistants, medical assistants, physical therapist aides, etc. Home health care workers will also see an increase as an alternative to hospitals and residential facilities. Other occupations to grow: Interpreters and translators; trades people: electricians, brickmasons, stonemasons, etc., information security analysts and experts; occupational therapists, semiconductor and computer manufacturing, computer engineering. How can local policymakers help diversify and strengthen local economies? I guess this would be the same as on the Federal Level -- tax breaks and incentives for companies coming into the local area. Are there any models for re-training displaced workers that have proven successful? I work mostly with college students who are heading into first careers -- so I don’t work with displaced workers at all. Our Community College is more likely to help these people. Also, WorkSource is another resource for workers seeking to rejoin the workforce. Neil Meredith Dana Professor of Business and Assistant Professor of Economics at West Texas A&M University 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? In my opinion, jobs that are most threatened by automation and robots are those that consist either exclusively or primarily of routine tasks that are repetitive and do not vary. For example, covering a candy bar with a wrapper is repetitive and does not vary. A worker on a candy assembly line who only wraps the candy bars is likely to be replaced by automation or robots. Jobs that are least threatened by automation and robots are those that significantly consist of tasks that require human intuition, creativity, and/or critical thinking. For example, a marketing manager for a company may have to critically evaluate several aspects of a marketing strategy before deciding how to best develop and market a particular product to appeal to consumers and raise sales. A robot or even artificial intelligence may have exceptional difficulty evaluating all of the specific critical thinking and analysis aspects, including insights into human behavior, required for such a nuanced task. What fields are expected to experience the highest rate of job growth in the next 10 years? One field that is expected to have a high rate of growth in the next 10 years is health care. Baby Boomers are increasingly aging, increasingly becoming eligible for Medicare, and increasingly requiring more care, which should boost demand for health care services. Also, Baby Boomers working in health care are retiring, which could significantly reduce the supply of care. The combination of increased demand and decreased supply should put pressure on wages in health care to rise significantly and make working in health care more attractive. How can local policymakers help diversify and strengthen local economies? Local policymakers can help create conditions where business can thrive by making it relatively easy to start businesses and grow. As a specific example, local policymakers could evaluate the process for getting a business license and simplify it. To encourage growth, local policymakers could create a favorable investment environment by eliminating unnecessary regulations. Policymakers could also make it abundantly known that they are business friendly. Gordon Walter Adjunct Instructor in the School of Business at Washburn University 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? Most threatened: Lower-level, non-technical sales professionals. It used to be that automobile buyers had to go through an automotive dealership to purchase a new car. But now, in this new millennium, with organizations like CarMax, AutoTrader, TrueCar, etc., auto buyers can find out at least as much about cars available for sale online as they could from a dealer. Just as the role of a dealer’s sales representative is shrinking, many other inside sales positions are also becoming automated. Positions, where people were employed to contact clients and take orders by telephone, are being supplanted by robots. These machines, with the help of artificial intelligence, can respond to answers of basic yes/no questions and inquiries seeking more information. Paralegal and Administrative Assistant Positions. Work that used to be done by paralegals and some administrative assistants can now be done much faster by data-mining algorithms. Again, Artificial Intelligence and robotics has come to the front office. Even smaller law firms and support functions can now afford to utilize systems and software to do high-volume process work. Least Threatened: Teacher/Trainers. At its core, teaching requires significant expertise and complex interactions with other people, and make subjective decisions regarding performance, which is difficult to automate. This is not to say that technology will not have an impact on the teaching profession. Technology has already greatly increased the reach and scope that an individual teacher has, which permits him/her to handle more students across ever-greater geographies (e.g., online learning). What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? Simplify taxes and protect fair trade laws and policy along with stronger energy and infrastructure policies and more focused training/education. In addition, I believe employers also want science, technology, and innovation policies that promote the use of technology and a level playing field. What fields are expected to experience the highest rate of job growth in the next 10 years? Those fields that serve the rapidly aging Baby Boomer population, including health care (especially technician and physical therapy positions). Other positions include those that help people with home-related assistance, including technology/software installation/maintenance and routine home repair/maintenance. How can local policymakers help diversify and strengthen local economies? I believe that the more autonomy and freedoms to chart the destiny of the local economy, the better-off most entities will be. Are there any models for re-training displaced workers that have proven successful? I favor locally managed/operated programs that have significant online components, allow participants to work at their own pace, but also build incentives for successful completion into the system. When participants are rewarded for successful completion of each module; the skills have direct application to specific positions or fields, and successful completion has a direct link to employment, the program is most successful. Dianna Cundiff Associate Director of the Center for Career Development at University of Evansville 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? In the past, the largest area in which employees tended to be displaced was within the manufacturing setting. However, we are beginning to see the use of robots in many other fields, such as food service (think automated order kiosks in restaurants rather than friendly wait staff), retail, healthcare, and even military and other protective services. In some ways, the use of robots makes processes more efficient, and in some cases, much safer. At UE, a team of engineering students have developed a fire fighting robot. The robot is programed to locate and extinguish fires in a given space. The idea is that in the future, the robots could be utilized to put out household fires before they cause significant injury to the occupants or damage to the property. The jobs that I feel are least threatened are the careers that involve people -- counselors, lawyers, teachers. Computers and robots can be programed to do any number of tasks, but (at least for now) they don’t have the ability to understand emotion and human nature. Also, the many creative jobs that exist simply cannot be done by robots. Writer, artists, musicians, dancers -- we need the human imagination in those careers. What fields are expected to experience the highest rate of job growth in the next 10 years? Many fields are in a growth pattern, with healthcare at the top of the heap, due in part to America’s aging population. The baby-boomers, those 65 and older, are projected to nearly double in the next three decades, according to the National Institute on Aging Census Bureau. When we look at the Bureau of Labor Statistics, 13 of the top 20 fastest growing occupations are health related. There is also substantial projected growth in the data sciences. The need to not only collect data, but to analyze, interpret, and utilize that information in problem-solving and decision making has become increasingly important. One important way that students can make themselves marketable in the field is to get a well-rounded education. Yes, learn how to collect and interpret data, but also learn how to work with a team and communicate that information appropriately within the organization. How can local policymakers help diversify and strengthen local economies? Invest in education at all levels! Provide better and easier access to technology. Education is the foundation and the key to strengthening, not only our economy, but our society. By investing in education, communities are supporting and developing our number one resource, people. Are there any models for re-training displaced workers that have proven successful? Access to education and training programs is critical for displaced workers. Certificate or apprenticeship programs, community colleges, and universities all offer courses or degrees that can support the development of the skills necessary for today’s workforce. There are several government programs, including Vocational Rehabilitation Services, which assists U.S. veterans in finding employment. Following a multi-faceted model may provide the best outcomes for displaced workers. A displaced worker may need more than just help finding another job. He/she may need assistance in coping with a job loss or change. They may need help identifying their skills and interests, and then choosing a job or career path that suits them. Helping clients discover training or educational programs is also important. And finally, assisting them with the job search itself. Dave Ulrich Rensis Likert Professor of Business in the Ross School of Business at University of Michigan and Partner at the RBL Group 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? Robots and automation, in today’s world, perform routine, automated, and repetitive tasks (e.g., assembly line manufacturing, processing tasks like payroll or retail check out, or other routine tasks). Today, tasks requiring judgment are better made by people. As information is cheaper culminating in artificial intelligence, many traditional “judgment” jobs are at risk. Computers defeating human chess masters is an example of increased data processing. As this processing continues to multiple (e.g., driverless cars), more judgment jobs will be automated. Jobs least likely to be automated are those required divergent, not linear thinking. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? Government does not create private sector jobs, but can encourage the right investments in future jobs. In coal or manufacturing jobs, there is often a “U” shape. At the top left is the R&D, design, and engineering work requiring human judgment and insight based on advanced training. At the bottom of the “U” are the operational coal and manufacturing jobs. These jobs are likely to be outsourced to cheaper labor markets or automated. At the top right of the “U” are the branding, distribution, and market facing jobs. These again require innovative thinking not easily automated. Government promises of policies to secure traditional operational jobs is like eating chocolate to lose weight. It won’t happen and is a false positive. Government policies could encourage new training opportunities to prepare for the top left or top right of the “U.” What fields are expected to experience the highest rate of job growth in the next 10 years? I envision three types of future jobs. First, employees will build the information systems that enable robotics and artificial intelligence. These will be coders and AI individuals in growth niches, e.g., internet security. Second, employees continue to be required in relationship jobs (e.g., nurses, service workers) where connections and creativity matter (teachers, entertainers). Third, employees will be required in knowledge judgment jobs where information is commercialized and turned into action. How can local policymakers help diversify and strengthen local economies? When there is collaboration between government, labor/industry, and academic, decisions can be made to help strengthen local and federal economies. Government policies on tax and regulation; industrial investments in customers and markets; academic efforts in preparing employees; and labor commitment to a secure and stable work force may work together to target an industry. This collaboration could be in a local area (Silicon Valley; New Jersey with pharmaceuticals; Western Michigan with furniture; etc.). Are there any models for re-training displaced workers that have proven successful? The idealized model is not as complicated as the commitment of the displaced individual to relearn and reprepare. If a displaced employee desires to upgrade skills, programs can be created that include formal training and informal experience (e.g., a manufacturing assembly line worker can become a nurse). But, if the displaced employee is not willing or able to make this professional transition, training will be unlikely to work. Craig Kerr Professor at California State Polytechnic University at Pomona 
What types of jobs do you think are most threatened by automation/the rise of robots? What jobs are least threatened? It depends on how fast driver-less cars and trucks can be a legal reality. Those robots have the potential to do the most damage in terms of the number of jobs that will be replaced with robots. In the more immediate future, I would think any cashier job should be replaced. We're used to seeing automatic checkouts at grocery stores but they are starting to appear at fast food restaurants like Panera and McDonalds. You can order a coffee from your Starbucks app before getting out of bed, walk into your neighborhood cafe and pick it up without talking to anyone. The only problem there is you just paid $5 for coffee but that's another issue. Amazon has an experimental convenient store with no humans at all. The purchases are tracked via sensors and the customers are charged without ever scanning an item. What policies can the Trump administration pursue to make good on their promise of increasing jobs in coal and manufacturing? I cannot speak to the coal industry specifically. As for manufacturing jobs, one main reason they left the United States is that the American worker is too expensive relative to his/her substitutes (machines and foreign workers). Companies want to maximize profits and they're not going to employ American workers if there's a cheaper option that can get the job done. Chinese and Mexican workers are still far cheaper than the American worker but all of these workers are simultaneously competing with automation. A good thought experiment is to imagine a robot that is a carbon copy of a worker from the U.S. (I know these don't exist currently, but the example is still valid). If a company hires the robot version of the worker, it doesn't have to pay payroll tax or health insurance. It doesn't have to worry about workers' compensation lawsuits or sensitivity training. It doesn't even have to pay overtime. Historically, such a robot would still be more expensive than the human worker. But the price tag on robots are decreasing while that of the American workers are increasing every time we put more regulation on employment. What policy can the government enact to bring back any jobs? It can stop making the U.S. worker artificially expensive. If you tax a good or service, less of it will be purchased. Since we tax the employment of labor via income taxes, payroll taxes, required health insurance, etc., we have less labor services employed than we otherwise would have. These taxes make foreign labor and automation relatively cheaper options. So my suggestion has been, and always will be, to lower or remove these taxes on workers. The government puts all these taxes and additional costs on labor, which lowers employment, and then tries to find ways to spend the money to increase employment. It's an inefficient mess. That being said, automation has already permanently replaced many of the jobs that left, so some of those jobs will never be coming home. How can local policymakers help diversify and strengthen local economies? The main tool policymakers have in encouraging and discouraging business is taxes and regulations. It's common for localities to offer tax holidays (period of time where a new business is not taxed locally) to attract business. Ideally, you have recession resistant industries for safety like education and medicine with a mix of cyclical industries like Information/Technology (IT). But if you have too many eggs in a cyclical basket, like my hometown Wilmington, Ohio did with the large shipping hub that employed most of the labor force, your locality will suffer greatly when a recession hits. Are there any models for re-training displaced workers that have proven successful? Not that I am aware of, but that doesn't mean they don't exist. The Department of Labor has resources for such things, though. You may want to check with an Economist there.
Methodology
In order to determine the best states for jobs, WalletHub compared the 50 states across two key dimensions, Job Market and Economic Environment. We assigned a heavier weight to the former, considering the factors in that category most heavily influence a job seeker’s decision in terms of relocation for employment.
We evaluated the two dimensions using 29 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for job seekers.
We then determined each state’s weighted average across all metrics to calculate its overall score and used the resulting scores rank-order our sample.
Job Market – Total Points: 60- Job Opportunities: Double Weight (~4.29 Points)Note: This metric was calculated as follows: Number of Job Openings per Total Population in Labor Force – Unemployment Rate.
- Employment Growth: Triple Weight (~6.43 Points)Note: This metric measures the rate of annual job growth (adjusted by the working-age population growth).
- Unemployment Rate: Double Weight (~4.29 Points)
- Long-term Unemployment Rate: Full Weight (~2.14 Points)
- Underemployment Rate: Double Weight (~4.29 Points)Note: Percentage of the civilian labor force that is unemployed, plus all marginally attached workers, plus the total employed part-time for economic reasons.
- Industry Variety: Full Weight (~2.14 Points)
- Employment Outlook: Triple Weight (~6.43 Points)Note: This metric is based on the Gallup's Job Creation Index.
- Job Security: Triple Weight (~6.43 Points)Note: This metric was calculated as follows: (Number of Employees in 2016 – Number of Employees in 2015) / Number of Employees in 2015.
- Job Satisfaction: Full Weight (~2.14 Points)
- Share of Engaged Workers: Full Weight (~2.14 Points)Note: This metric is based on Gallup’s “State of the American Workplace” report. Gallup defines engaged employees as those who are involved in, enthusiastic about and committed to their work and workplace.
- Employer-Based Retirement Access & Participation: Full Weight (~2.14 Points)
- Employee Benefits: Full Weight (~2.14 Points)Note: This metric measures the share of employees with private health insurance.
- Presence of Work-Share Programs: Full Weight (~2.14 Points)Note: This binary metric measures the presence or absence of state programs that allow employers to temporarily reduce work hours of employees instead of laying them off during economic downturns.
- Presence of State Nondiscrimination Laws & Policies: Full Weight (~2.14 Points)Note: This binary metric measures the presence or absence of state laws and policies that protect workers against discrimination based on their sexual orientation or gender.
- Share of Part-Time Employees: Full Weight (~2.14 Points)Note: This metric measures the number of part-time employees for every 100 full-time employees. A greater share of full-time employees is ideal.
- Availability of Internships: Double Weight (~4.29 Points)Note: This metric measures the number of internships per total civilian population aged 16 to 24 in the labor force.
- 4+ Star Job Opportunities per Total People in Labor Force: Full Weight (~2.14 Points)Note: This metric measures the number of job opportunities at 4+ star rated companies on Glasssdoor.com per the total people in the labor force.
- Disability-Friendliness of Employers: Full Weight (~2.14 Points)Note: This metric measures the percentage of persons with disabilities who are employed.
- Median Annual Income: Double Weight (~5.33 Points)Note: This metric was adjusted by the cost of living.
- Monthly Average Starting Salary: Full Weight (~2.67 Points)
- Share of Workers Living Under Poverty Line: Full Weight (~2.67 Points)
- Average Length of Work Day (in Hours): Full Weight (~2.67 Points)
- Average Commute Time (in Minutes): Full Weight (~2.67 Points)
- Commuter-Friendly Jobs (Number of Jobs Accessible by a 30-Minute Transit Ride): Full Weight (~2.67 Points)
- Earned Income-Tax Credit: Full Weight (~2.67 Points)
- State Income-Tax Burden for Low-Income Earners (as Share of Income): Double Weight (~5.33 Points)
- State Income-Tax Burden for Middle-Income Earners (as Share of Income): Double Weight (~5.33 Points)
- State Income-Tax Burden for High-Income Earners (as Share of Income): Double Weight (~5.33 Points)
- Working Moms & Dads Rankings: Full Weight (~2.67 Points)Note: This metric is based on WalletHub’s “Best & Worst States for Working Moms” & “Best & Worst States for Working Dads” reports.
Sources: Data used to create this ranking were collected from U.S. Census Bureau, Bureau of Labor Statistics, Indeed.com, Gallup-Healthways, United Health Foundation, Brandwatch, The Pew Charitable Trusts, National Conference of State Legislatures, Chegg, Council for Community and Economic Research, Tax Credits for Workers and Their Families, ITEP, Movement Advancement Project, Glassdoor, The Center for Neighborhood Technology and WalletHub research.
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Well, I'm here to tell you that it is possible, and learning how to make extra money can change your life!
Sure, it may be hard at first, but once you reach your goal, you’ll know that it was well worth it.
And, please keep in mind that you're not alone. With a new side hustle, pretty much everyone is starting in the same place as you – with no customers whatsoever. Most side hustles are built from the ground up, and even though they require a lot of hard work, it can all be very worthwhile!
Related content:
- How To Side Hustle- Answers To The Most Common Side Hustle Questions
- 75+ Ways To Make Extra Money
- 12 Work From Home Jobs That Can Earn You $1,000+ Each Month
- The Important Reasons You Need Multiple Streams of Income
- 43 Extreme Things People Have Done To Make Money
How do I choose a side hustle?
Before we start talking about growing your side hustle by learning how to find customers, I want to help you think about how you can find your actual side hustle, especially if you haven't thought of it yet. If you already have, then skip to the next section.
Because there are so many different side hustle options, it’s easy to get overwhelmed when choosing one to start with.
Some questions you'll want to ask yourself include:
- Are you passionate about your side hustle idea? While, you don't need to be passionate, it may help you decide between a side hustle you hate and one that you love. Or, you may just be passionate about the fact that this side hustle will allow you to reach your goals! It all depends on your mindset and what you want out of it.
- Can YOU earn money with it? Someone else may be able to earn an income from it, but can you?
- Do you have enough time? Does the side hustle fit into your schedule?
- Are you skilled in the area, or can you become skilled? It’s better to know this before you waste too much of your time trying to figure out that you don't have the skills needed for your side hustle. Sure, some skills can be taught, but others may not be worthwhile, they may be too much effort, etc.
- How much money do you need to start? Do you need a lot of start-up money in the beginning? If so, can you afford that?
- What is your dream side hustle idea? What do you picture yourself doing? What is your goal with your side hustle?
- Will your day job allow you to have the side hustle? Some jobs may have restrictions on what exactly you can do outside of work to earn an income. If you are questioning it, then you should do your research before you move forward. An example may be if you work as a financial advisor – your employer may not want you giving financial advice on the side because that could be seen as competition.
Answering these questions will help you narrow down the side hustle ideas you are thinking about. If you are stuck between a few different side hustle options, I recommend creating a pros and cons list.
Below are some estimates and ranges of what you can make with some different side hustle ideas:
- Teaching English – $14-$26 an hour.
- Picking up trash – $30 an hour.
- Becoming a virtual assistant – $500+ a month.
- Taking surveys online at home – $1 to $10+ per survey.
- Blogging – $0 to millions of dollars a year. There's even a personal finance blogger out there who makes over $10 million a year. Yes, a year! I was earning around $10,000 a month on the side of my day job. Now, I'm earning around $100,000 a month from blogging.
- Writing articles online for others – $15 to $1000+ per article. Usually, new writers start out at around $15-$25 per article in the online world.
- Renting a room in your home – $300 to $1,000+ a month. This can vary widely depending on your location, whether you are renting it on a monthly or daily basis (such as with Airbnb), and more.
- Mystery shopping – $3 to $100+ per mystery shop. Usually, whatever you are shopping for is free, plus a small payment for your time.
- Mowing lawns – $20 and up per lawn. This obviously depends on what work is being done, how large the yard is, and more.
- Dog sitting – $25 to $100 per day. This all depends on the area you live in, the amount of work you are doing (walking the dogs, administering medication, cleaning up, etc.), and more.
Related: 7+ Ways To Make $500 By The Weekend
Here's how to find customers for your side hustle.
Ask around.
The first place to start if you are wondering how to find customers is by promoting your side hustle service to those you know, such as friends and family, or on social media sites, such as Facebook, Twitter, or Instagram, and so on.
The website NextDoor may help you market your side hustle to those in your area as well.
Now, this may be scary to do when you are new, but it is easy. The worst that can happen is that someone says no. The best is that you gain a new side hustle client!
Simply introduce yourself, whether that be in person or on social media/email/etc, and explain your services.
A very simple way to advertise your new side hustle service is to just post an easy update on your Facebook page letting those you know about what you're doing. Something like:
“Hey everyone! I just started a new business where I am ______. If you are in need of the service, please let me know.”
Something as simple as that can help you get your name out there, and it's easy!
Also, when learning how to find customers, it will help to create a quick elevator pitch so that people can easily know what you do.
Publicly share your services.
This one may cost you a little bit more as you figure out how to find customers, but it’s as easy as placing ads for your side hustle in your local community, such as by handing out business cards, posting flyers on billboards, and more. This can be a great way to help you market your services further than to just your friends and family.
You can also share your side hustle business on Craigslist, which is a free way to learn how to find customers. Craigslist is a great place to advertise your side hustle service as it allows you to reach people that may not normally be in your network. You can also search job listings on Craigslist to see if any match your services.
Other websites you may want to advertise your services on include:
Depending on your specific service, there are probably plenty of websites that can help you to share your services and learn how to find customers.
I scored this interview thanks to a networking event!
Attend networking events.
There are networking events for writers, bloggers, crafters, side hustlers, the list goes on and on. Find one!
Attending networking events in person is great because that's usually where you can build great connections with others. You may learn how to find customers from others in your industry, you may find clients at the networking event, you may find people who will help refer you to others, and more.
Another way to network and learn more about how to find customers is to be active in Facebook groups. I know of many experts who are genuinely active in Facebook groups and provide plenty of valuable, free help. This leads to more people using their services outside of the groups, as well as referrals, testimonials, and more.
Start a website and social media accounts.
Starting a website so that potential customers can search for your service/product is extremely important, and so is having social media accounts.
In today's age, a website and social media presence go a long way. Whenever I am about to do business with someone, I almost always look to see if I can find a website or social media accounts.
A website is great because a new customer may want to read more about your exact services, read your “About” page, see your rates (if you decide to show those), your Hire Me page, and more.
For me, back when I was freelancing, I just had a simple “Hire Me” page here on Making Sense of Cents and hundreds of potential clients contacted me through that link. I never even really marketed that Hire Me page – companies just found it on their own and approached me. Couldn't have been easier!
Depending on what exactly your business is, I also recommend thinking about starting a Facebook, Twitter, Linkedin, or Instagram account, or even all four! Social media accounts are important because your new and potential customer wants to be able to learn more about you, and perhaps even see your past work, pictures, read reviews, and more.
Note: If you want to start a website, I have a free tutorial and course that will show you how. You can sign up for the free course here.
Here's a great testimonial I received for my course, Making Sense of Affiliate Marketing. Testimonials really go a long way!
Seek out testimonials and referrals.
Once you learn how to find customers and begin to grow your client base, ask past customers to spread the word about your side hustle. Referrals are a great way to find customers and definitely go a long way.
You may want to ask a current client of yours for testimonials and ask them if they know anyone else who may be interested in your services.
After all, these people are already your clients, so they probably know others who need similar services and if they share your information, then they probably have good things to say about you.
New customers usually prefer to use someone they are referred to. Just think about it: If you were stuck between two companies but knew someone who had a positive review about one, who would you be more likely to use?
You would most likely go with the company that you heard the positive review about!
Have business cards.
For many of the ideas above, having business cards would definitely be handy. You may meet someone at a coffee shop, a networking event, or through a friend, and a business card gives them an easy way to find you later.
Sure, business cards may not be as popular as they once were, but they are usually fairly affordable, so it's a no-brainer for me.
My favorite website to get business cards from is MOO.
What are you doing to find clients for your side hustle or full-time business? Share in the comments below!
The post 6 Actions To Take To Find Your First Customers When No One Knows You appeared first on Making Sense Of Cents.
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