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Money

The www.FedPrimeRate.com Personal Finance Blog and Magazine

Friday, March 08, 2024

New Unemployment Insurance Claims for The Week of March 2, 2024

Jobless Claims
Jobless Claims


Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on March 2, 2024:

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Predicted: 215,000

  • Actual: 217,000
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The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (revised): 217,000
  • 4-Week Moving Average: 212,250

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From Today's Report:

"...The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending February 24, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 24 was 1,906,000, an increase of 8,000 from the previous week's revised level. The previous week's level was revised down by 7,000 from 1,905,000 to 1,898,000.

The 4-week moving average was 1,888,250, an increase of 10,250 from the previous week's revised average. This is the highest level for this average since December 11, 2021 when it was 1,888,250. The previous week's average was revised down by 1,750 from 1,879,750 to 1,878,000..."

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Monday, April 11, 2022

My Job Interview at The New York Public Library

The New York Public Library (NYPL)
The New York
Public Library

Back in 1999, I interviewed for a tech support job at the New York Public Library (NYPL.) I showed up looking very smart: new suit from Macy's, a fresh haircut and a laminated resume.

The lady who interviewed me was Caucasian, probably in her late 20s or early 30s, and attractive in a "girl next door" kinda' way.

Interview questions: I was perfectly ready for anything and everything, from the obvious and valid to the unethical and incredibly annoying (Unethical as in questions about your current employers operations.  They want to steal as many good ideas as they can... And MAYBE hire you.)

So, as soon as I sat down, I was met with that look.

You see, I'm a person of color, with very dark skin.

Fear!
Fear!
Anybody who looks like me knows this look.  It's that "deer in the headlights" look, except it's from human eyes. It's that look that says, "I'm scared of you, and I just can't help it."  It's the kind of look we colored men get just before a fearful woman pulls her purse in closer to her body, because she automatically thinks that we may snatch it and run.

I thought she would catch herself, and the look would stop. But this was just silly, wishful thinking. It didn't stop. It was locked in.

So I got up, thanked her for her time, and left.

For me, this episode was exceptionally disappointing, considering that the NYPL is one of America's greatest fonts of free learning.  

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Tuesday, July 27, 2021

Generation X Workers May Be Facing The Biggest Unemployment Crisis

www.FedPrimeRate.com: Generation X Workers May Be Facing The Biggest Unemployment Crisis
Generation X Workers
by CNBC's Karen Gilchrist

Gen X workers aged 45 and older may be bearing the brunt of a global unemployment crisis as the pandemic adds to existing challenges for older workers, according to a new report.

Rapid digital adoption during the pandemic has accelerated the automation of jobs and worsened underlying ageism, making it harder for mid-career workers to secure roles, according to the report from Generation, a non-profit employment organization.

In a global study entitled 'Meeting The World’s Mid-Career Challenge,' the firm found that entry-level and intermediate workers between the age of 45 and 60 face increased barriers due to biases among hiring managers, as well as reluctance among workers to learn new skills.

Generation’s CEO said the report had, for the first time, 'put a number on ageism.'

'This is a demographic that is absolutely in need and it’s very clear that once you reach a certain age, it just becomes much harder to access a job opportunity,' Mona Mourshed told CNBC Make It.

Ageist Misconceptions Prevail

The study, which was conducted between March and May 2021, surveyed 3,800 employed and unemployed people from 18 to 60 years old and 1,404 hiring managers across seven countries.

Despite the varied international jobs landscape -- from the U.S. to the U.K. and India to Italy -- the findings were broadly the same: 45- to 60-year-olds are the most overlooked employee bracket. Indeed, for the past six years, mid-career individuals have made up a consistently high percentage of the long-term unemployed.

Most notably, the research found that hiring managers across the board considered those who are 45-years-old and above to be the worst cohort in terms of application readiness, fitness and previous experience.

Among their top concerns were a perceived reluctance among older workers to try new technologies (38%), an inability to learn new skills (27%), and difficulty in working with other generations (21%).

It comes in spite of evidence that older workers often outperform their younger peers. Indeed, almost nine in 10 (87%) hiring managers said their hires who are 45 years and above have been as good as -- or better -- than younger employees.

Mourshed said the findings highlight underlying biases at play in the workplace.

'It is often the case that like identifies with like when it comes to "isms,"' she said.

For instance, she explained, there is a tendency among hiring managers to opt for hires in their age group. Meanwhile, C.V.-based interviews can make it hard for candidates to demonstrate their skills, she added.
Re-engaging a lost workforce

Training could provide one solution to the issue. Still, the report also highlighted a reluctance to pursue training among job seekers who are 45 years and above.

More than half (57%) of entry-level and intermediate-level job seekers expressed a resistance to re-skilling, while just 1% said training increased their confidence when looking for work. Often, that is due to negative experiences of education, conflicting personal duties, and lack of available programs and financial support for mid-career workers, said Mourshed.

However, she insisted that training can provide real benefits. In the study, almost three-quarters (73%) of career changers aged 45+ said that attending training helped them secure their new position.

It’s one of several solutions put forward by Mourshed as companies and governments grapple with workforce shortages. Other solutions she outlined include:

  • Linking training programs directly to employment opportunities and providing stipends to support workers who are 45 years and above, who are hesitant to engage in training.

  • Changing hiring practices to reduce potential age biases and better assess the potential of age 45+ job candidates by using demonstration-based exercises.

  • Rethinking current employer training approaches to make it easier to fill new roles with existing employees who are 45 years old and above, versus relying on new hires.

  • Improving employment data on a national level to help government organizations address the unique challenges of specific age groups.

  • Given that it is 2021, inter-generational workforces must be a reality that every company seeks to put in place,' said Mourshed.

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Monday, July 20, 2020

Fast Gaining Jobs In The Wake of COVID-19

From the exceptional folks at LinkedIn: Fast Gaining Jobs In The Wake of COVID-19:

Fast Gaining Jobs In The Wake of COVID-19
Fast Gaining Jobs In The Wake of COVID-19


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Monday, June 11, 2018

How Kentucky Is Closing The Skills Gap

How Kentucky Is Closing The Skills Gap; a great segment produced by the exceptional folks at Nightly Business Report:



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Saturday, September 11, 2010

Asking For A Salary I Deserve: MY 911 Story

One World Trade Center, Under ConstructionI've always believed that when negotiating a salary at a new job, one must price oneself right. Ask for too little, and you'll end up bitter and feeling unappreciated. Your job performance will probably be not so great too, because you'll feel like the company you're working for is ripping you off every day. Why do your best for a company that pays you significantly less than you deserve?

This is a story about using leverage to try and get a bigger paycheck. It's also my 911 story, which I'm compelled to share here on this 9th anniversary of the 9/11 attacks.

Back in the year 2000, I was looking to make more money, and decided to go on some job interviews, even though I was working at a job I liked at a company that treated me quite fairly. All was quite well at this job: great coworkers, great benefits, Lincoln Towncar ride home every night, and more. But I wasn't happy with my salary, and that was enough to prompt me to look for even greener pastures.

At the time I figured I would use the leverage I had, i.e. being someone already employed at a prestigious NYC law firm, to achieve my goal.

I went on a few interviews, which were OK, but nothing special.

It was the fourth interview that I felt was the most promising. It was at a well known financial services company at the World Trade Center. The company needed a IT guy, fast, and they wanted someone who could hit the ground running.

I remember taking a long elevator ride to a very well decorated office. Actually, what I remember most vividly was the view from the lobby. It was breathtakingly stunning. Not only could I see the curve of the Earth, I was also taken aback by how small the Brooklyn Bridge appeared at that height. To give you an idea, imagine being in an office near the top of one of the towers, and placing yourself right next to a large window. Then imagine lining your index finger up with the Brooklyn Bridge below. The bridge, from that vantage point, was just a little bit longer than my finger.

The interview went very well. It was conducted by the department head and an employee who, if I ended up getting hired, would be my coworker. Most of the interview was consumed by an extensive, verbal quiz. I got most of the answers correct.

The next day, the man who would be my boss called me and gave me another test. He quizzed me on the 2 questions I got wrong the day before. I got them right this time. He was just making sure I was the right kind of person for the job, someone who would get stumped on something important and job-related, and would respond by getting knowledgeable as quickly as possible.

The next day I got a call from the same manager, and he asked me what my salary expectations were. With confidence, I gave him a figure. The angry response from the other end of the phone was:

"What?!!! There's no way in hell we're paying you that much!"

And, at that, he hung up the phone. I never heard back from him or from anyone else at that firm. The job was lost.

Do I regret giving him a figure that I thought was fair and commensurate with my experience. Heck no! However, if I had access to a time machine that day -- not an expensive H.G. Wells model but something simple like those sold at Wal-Mart -- I may have considered going back in time and changing my response to "negotiable" or something to that effect.

About a year later, the 9/11 attacks happened.

I'm no mystic. In fact, I'm an extremely firm secular humanist. But sometimes things happen in life that make me wonder if I have some sort of guardian angel watching over me.

A few months later, on Christmas Day, I found myself watching the Frank Capra classic "It's A Wonderful Life," and getting a bit chocked up, which is really not my thing. I then found myself praying for all those who perished on September 11, 2001. I have no idea if heaven exists, but I found myself wishing them godspeed to a peaceful afterlife.

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I've never liked the idea of someone else dictating how much I deserve to get paid. Why should someone I don't know have that kind of power over me? Bottom line: why should I be happy letting someone else determine how much I am worth? I didn't get the job, but I retained my sense of self-worth, which I feel is very important in life. I guess that's just my personality, and it's why I knew I would have to break free of the 9-to-5 thing eventually.

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Thursday, April 16, 2009

A Family Affair: How Economic Crisis Can Truly Hit Home

The state of the nation's economy is a bit enigmatic; on one hand, an 8.5% national unemployment rate still means that there is a 91.5% employment rate, so the economic outlook is obviously not all bad, despite the doom and gloom reported by the media. However, the 8.5% and those who love them are seeing some of the worst economic times facing Americans since the Great Depression. Millions of Americans are tightening their belts, but the 8.5% are losing their shirts, and when they do, many of them have to call on family and friends to help. According to the Wall Street Journal, rising costs are causing many Americans, even those with jobs, to begin moving in with family and friends, even elderly parents, just to keep their heads above water.

I ought to know; I have a sibling living with me for that very reason.

One of my sisters knows the hardships of the economic downturn, and even the dark side of financial despair. Less hours at work and an almost non-existent job market meant that she had to find other ways to make money. She lived alone and was always very independent, so she didn't like asking for help. So unfortunately, like many other Americans facing economic hardship, my sister turned to crime. She had some brushes with the law when she was young, and desperation caused her to be tempted to revert to her old ways. One minute she was living in a nice suburban townhouse, and the next she was calling to cry on my shoulder because she was losing it all. She had even taken advantage of one of our older relatives who allowed her to get a cell phone on her account. In an inside job gone bad, she ordered over 30 phones in 4 months for resale, and ended up on the hook for all of them. She was supposed to get coupons from an employee of the wireless company so that she could make a profit by buying the phones for a reduced price and selling them at close to retail. The employee stiffed her on the coupons, and she couldn't manage to save the money that was supposed to pay for the phones in the first place. So, she racked up a total wireless bill of $12,000 in someone else's name because her world was spiraling out of control. My sister does not do drugs or alcohol, and she does not have a gambling problem. She turned to fraud to pay her rent and buy groceries.

I know that many of you may find it easy to judge her and may even be eager to judge me for taking her into my home. However, the fact of the matter is that it is difficult to say what you won't do when you feel like your back is against the wall and you stand to lose everything that you have worked for. The family member sought legal advice and is working to protect herself, and my sister is going to pay the entire debt. All of it. However, she won't be able to do it alone. The problem was that she could not survive on her own with the income that she was making, so unless I wanted to see her drown, my husband and I had to step in.

For those of you who are still questioning my sanity, know that she is under strict rules living here; she has chores, my husband has to manage her income, and she cannot have a car or any company that we do not approve. We have small children, so she also babysits. Despite what you might think, the situation is actually working out. There were some tense moments and misunderstandings during the first month as we all got adjusted to the new living arrangement, but now that my sister has stopped blaming others for her circumstances, eaten a slice of humble pie, and begun to understand that we are sincerely trying to help her change her life, she has gotten with the program. It's kind of like a drug rehab, except for someone who makes poor financial decisions. It's hard enough surviving with poor decision making skills in a stable economy; when the chips are down, only the strong survive. In the absence of great mental and emotional strength and a resourceful spirit, a declining economy can ruin some of the best of us, so those who already have questionable living skills are just hardship cases just waiting to happen. However, with a little help from our friends (homage to Joe Cocker), even the worst of us can make a turnaround.

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Monday, February 09, 2009

Debt and Marriage: How Selling on eBay Helped Me

When The Going Gets Tough, The Tough Sell Their Stuff On eBayAnyone who is in debt, or has been before, is aware of the stress it can place upon other areas of life. I know it all too well: my marriage almost ended because of our financial worries. We were overextended and stressed out over our mounting debt, and that made us more prone to argue about anything and everything else. Our relationship is faring much better these days, mainly because I am now actively seeking work, plus I'm bringing in a little extra money each month by selling on eBay.

I started my eBay "career" by selling a dress, similar to the one in the photo, that I wore when I was a bridesmaid in my mother's second wedding. I really liked the dress, and it had a bit of sentimental value to me because my mother passed away a couple of years ago. I knew, however, that the chances of me ever wearing it again were low. I ended up selling it for $48.00- not bad for something I didn't pay a dime for, and that was just languishing in my closet!

I also sell eBooks on CD. I found a website where private-label resale eBooks can be downloaded free of charge. For the price of a blank CD (less than fifty cents), plus a dollar or two for shipping, I had an instantly successful product. In my first week of selling eBooks, I had over fifty orders. My profit that first week alone was almost one hundred dollars!
Oster stand mixer sold on eBay
Not stopping there, I also make a decent amount of money by selling assorted knick-knacks and small items that I pick up at yard sales and flea markets for a low price. For example, last month I bought a 1970s-era Oster stand mixer at a garage sale for $4. I took it home, cleaned it up, and made sure that it worked and all the parts and pieces were there. Then I listed it on eBay, and it sold for $77 plus shipping. Quite a profit!

I also sell through drop-shipping. I list items that I think will sell. When the auctions end, and the money for the item is in my PayPal account, I go back to the drop-shipper's website, place the order, and the item is delivered directly to the customer. I don't have to keep an inventory or anything, which is what makes drop-shipping a convenient way to get into the eBay business. I have sold everything from baby items to mp3 players, and some are more profitable than others.


motorcycle sold on eBayMy biggest eBay sale to date is a motorcycle. My husband had it advertised in our local newspaper first. We had a few callers, but no one wanted to give a fair price for it. I listed it on eBay Motors, with a starting bid of $900, and it took off from there. It sold for $1,750, which was $250 more than we had hoped for.

I'm not claiming that becoming an eBay seller is a ticket to financial security, but I've been able to pay for our family's health coverage, and occasionally I can afford to put a little bit of money toward our credit card debt.

Money issues can cause stress in a marriage. I know it did for me, mainly because I didn't feel as if I was contributing to the household finances. Finding a side job (such as eBay selling) can go a long way toward easing that worry, and ironing some of the "wrinkles" out of daily life.

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Tuesday, November 25, 2008

Money and happiness ... illusory correlation?

love and money
Some might argue that the correlations between love and happiness are illusory. Ask a poor loved person what they could use more of and chances are they will say money. Ask a rich single person what they lack and chances are they will say love. How do we rank our human necessities and our mental necessities? In doing this, one would also be taking into consideration that our own struggles have fixated our minds on the needs of life, as we see them. If survival is our basic human instinct, does that make love our basic human necessity? I can't say for sure money can't buy me happiness, but I'm positive love has never written a check for my bills.

I was a teen mother and the only true description I can give you on our lives at that time is that we were broke, I mean broke to the brokest of broken! Yes, I said brokest. That’s how broke we were. I had to expand my vocabulary in order to describe it because Webster couldn’t even help me with that. I was eight months pregnant sleeping on the floor, and every morning when I woke up although my body felt like I got hit by a 40,000 lb truck moving at 75 mph. I was young and in love. There were times when comfort was by no means within a three hundred mile radius of my life, but I can’t recall ever being really and truly unhappy.

My impecunious status not just throughout the times of my pregnancy with my first born, but through life in general was the fuel my mind needed to climb out of the struggle. By the time I was 21, I was a licensed real estate agent. Three children and a career later, I thought for certain my life was coming together. I mingled amongst the rich, and it was smashing! I sipped wine that made my lips cringe and ate cheese that made my nose curl. My swallows were shallow and my breaths were deep when I found out that caviar was processed salted roe, and not just a “seasoning”. I had to talk my body into keeping it down. The thought of puking all over the marble floor was mortifying. I explored my vocabulary to the very depths of my being to validate the house on the corners price tag and its empty lot next door. My first commission check was like winning the lottery, only better. I had done this, I was making money! Things were definitely at their high point because with money came happiness. Right? Wasn’t happiness moneys right hand man?

“Money makes the world go ‘round” was what I had heard so many times. Real estate meant money, and in my life lacked money so it didn't take a college education for my mind to convolute the two. Three years into my real estate career, I was divorcing. I by no means blame myself because I know there were so many other issues that came between us, but it's one of those things that isn't supposed to happen when you have life figured out. Through hours of soul searching and chicken souping my hit-by-a-train soul I came to the realization that I had lost all the passion I once knew. Life became strictly business, the laughs and good times were scarce. What I did had to benefit me in one way or another. If it didn’t make me money, I wouldn’t do it. I knew this wasn’t what my HEART wanted to do, but my WALLET loved it. If I didn't have to spend another day sleeping on the floor or worrying about groceries for the next week, I was ok. Wasn’t I? I wasn't ok, this wasn't ok. I lost my grip.

I can honestly say only up until recently have I realized what I want to be when I grow up. I revisited my heart and took into account my feelings and my ambitions for life and not the balance in my checking account. Although you can’t let money drive you, it’s important to remain aware that love alone cannot sustain you. Take all your life’s lessons, unique ideas and yes, even some of those so regretted mistakes and mush them together. Then sift through them patiently until you find that yummy goodness. Find that middle ground in life, and ride life until the wheels fall off! I have yet to meet someone who can honestly tell me they want to struggle for money, but I’ve met all too many who have said the money wasn’t worth the life they lost. I've seen the money, now where is the love?

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Friday, September 05, 2008

Would You Like a Free Degree With That? The Online University Bait-and-Switch

bait-n-switchHow would you like to earn a doctorate in record time, or a master's degree in less than a year? Sounds great, right? And think of the convenience to you when you discover that you don't even have to look for a university that offers these phenomenal program, they'll come right to you, sometimes while you're interviewing for a job.

If you've spent any time hunting for jobs online, you've probably answered an ad or two that sent you to a company like Career Network, where you had to sign up for an account in order to send your resume to the job poster. I found an ad through Yahoo Hot Jobs for a teaching assistant position at a private school I'd never heard of. Private schools often pay better than public schools, so I tried to apply. I was redirected to www.careernetworkjobs.com and asked to register with the site for my resume to be considered for the job. A little bit of a hassle, but I was willing to spend a few minutes filling out yet another application. I uploaded my resume and, within a few days, Career Network left two garbled messages on my phone about a job interview (from an out-of-state area code) and an email that said, "After reviewing your application we have determined that you meet our initial employment requirements."

I was a little unclear on whether I'd gotten the job or not, so I called the number that left the two cryptic messages and was transferred from New York State to an employment pre-screener in Orlando, who explained that his company was contracted to interview prospective employees and send the best applicants on to the next stage of the interview process. It was like being on a strange game show where the only questions you get asked are your name, address, and "Do you have plans to continue your education?" I confirmed my information and said, sure, I'd love to continue my education if I could afford it, who wouldn't? Not only did this get me to the next round of the interview process, I activated the special bonus round, and the pre-interviewer said,

"You sound like someone who cares a lot about his education, so I tell you what I'm going to do... I'm going to transfer you to someone at one of our partner companies who can find an online, accredited university that can offer you financial aid and help you finish your education."


Perhaps I should have been skeptical. I'd never been on a job interview that offered me higher education before, not even on a pre-interview. I certainly liked the sound of what they were offering. I'd exhausted most of my financial aid options getting my bachelor degree, and it was fast approaching the time when Sallie Mae would be asking what her investment in me had produced, aside from an out-of-work English teacher.

A new voice came on the line, and I was introduced to a no-nonsense woman from Education Connection, a company that would find me the perfect online university. All I had to do was tell them what I wanted a degree in. A master's in Psychology? No problem. She found just the school for me, with exactly the program I was looking for, at Capella University. Someone from admissions would be contacting me within the week, she said, and that was the end of the call.

It was a little strange to me that I'd called to interview for a teaching assistant job and somehow ended up applying to an online university, so I googled Capella University to see what I'd gotten myself into. Capella University was, according to my research, an accredited university. They even had a website with an .edu domain, something which most diploma mills, for-profit scam factories that take your money and give you a degree without even pretending to offer a legitimate education, couldn't manage. Was it possible to be an accredited university and still be a scam?

I asked a friend of mine who recently earned a master's degree the hard way, defending her thesis in front of a room full of professors, and she said, "It's been my experience that most online universities aren't taken seriously by the academic community." Keith L., a business professional on Yahoo Answers had this to say about job applicants with online universities on their resumes,

"...Given two applicants were equal, I would almost always give the edge to someone who went to a reputable school over someone [who got a degree from an online university] like Walden University. It’s easily the lowest rung of higher education out there. Maybe someone can create a Tier 5 for them to inhabit."


There are easily thousands of people online who claim to be working hard on their Capella University classes, and others who've earned degrees from online schools like this who believe they worked hard for them, but you'll find just as many students who felt cheated and ripped off by their online school, especially when they find out their school retains faculty that earned their degrees at schools like Lacrosse University, which is fully unaccredited as opposed to merely questionable. Disgruntled students from Capella University report being locked out of their online classrooms for spurious reasons, failing without explanation from their professors, and having additional fees sneak onto their tuition bill after being hounded by snake-oil selling admission counselors day and night to earn a degree at Capella.

It's been over a week since I was "interviewed" for that job, and I've heard nothing from the school that posted the ad, if they ever existed in the first place. On the other hand, I've gotten two or three calls from Capella university every day and just as many emails touting the school's excellent financing options. When I was considering attending the University of South Florida, no one called to try and sell me on the school. When I was thinking about buying a new car, on the other hand, dealers fell over each other to get in touch with me and convince me they had the best financing, but even a used car salesman won't barrage you with phone calls like an online university.

The worst part is that for many people of limited means, online universities dangle the dream of a college degree and full financial aid, never letting on that most employers will consider that degree a joke, even if you did work your tail off for it. Not every online university is a diploma mill, but it's absolutely true that a degree from a university that is entirely based online will not carry the same weight as a traditional degree. And how could they, when the schools that offer them do their recruiting with phony bait-and-switch job ads and daily phone and email spamming until you talk to one of their admission counselors/salespeople?

If you really value your education, do yourself a favor and get an associate degree from your local community college and financial aid through their financial aid counselors. Then apply to a real brick and mortar university as a transfer student. Don't get suckered by free financing and a new set of radial tires.

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Thursday, September 04, 2008

How to Get Paid and Go Broke Without Really Trying: A Job Offer Scam to Watch Out For

scamSometimes when you're desperate, the right job just falls into your lap, and if you're really desperate, you may not realize you're being suckered into an international money-laundering scam.

I lost my teaching job this year because of county-wide budget cuts, which has put a severe financial strain on my family while I look for something to pay the bills until a permanent teaching job opens up. There aren't a lot of places where a BA in Creative Writing gets you more than minimum wage, so when I saw an ad for English teachers on Craigslist.org, I jumped at it.

Reply to: amfrank007@yahoo.com
Date: 2008-08-27, 11:26PM EDT

I need a good and reliable English Tutor for my Kids....Attracts Great salary and benefits...Send your resume.

Adalberto Martinez Frank


In a flash, my resume was on its way to Mr. Adalberto Frank, and within 24 hours, I received a response that made my poor, unemployed heart flutter.

Hello [real name censored] ,

Good to hear from you and sorry for the late response, I have been busy with work and family at the same time .I acknowledge receiving your application and your resume which is very impressive. Please be informed that you are among the three people shortlisted for the teaching job.

Note: The teaching lesson will take place in my residence and here is the address where we will be living in the US and We will be arriving precisely by September 9th

6500 International Drive
Orlando, FL 32819
My childrens' name are John and Prisilia (A boy and a girl). We are originally from Spain but right now in the UK, my children speak little of the English language and i want my children to be tutored together for 6hrs to 10hrs per week. My children always get along together and they are very active. I can offer $30 per hour for both children because i want the best to prepare them to start school at fall.

I want you to reply me with the following details below 1. The days in the week you will be available to teach the children and numbers of hours per day starting from september 10. The children are available to be tutored any time and any day during the weekdays and weekends. 2. Your suitable charges per hour for both children if $30 if not suitable for you. Also your total charges per week because i will like to make payment weekly 3. The total cost of gas/transportation to my residence per week.
Regards
Adalberto Frank


Maybe I should have been suspicious that he found my resume so impressive. I'd only taught high school English for a single year, after all, and from what he was saying, he needed someone with ESOL (English as a Second Language) teaching experience. But the money was too good to pass up. $30/hour was more than I'd made during my teaching year. I couldn't softball how much it was going to cost to drive to Orlando, otherwise it would end up costing me more in gas to tutor the kids than I was being paid, so I sent back a lengthy reply, hoping that my transportation costs didn't bump me right off the short list. I mean, he could easily find someone in Orlando with at least as much teaching experience as me, right? And why was he looking for English teachers in Tampa anyway if he was moving to Orlando? I didn't dwell on these questions for very long because the prospect of a paying job was intoxicating. It didn't matter if it meant two hours of daily commute for the sum total of $300 dollars a week.

He replied briskly and apologized for the imperceptible delay in communication. Apparently, his father in Spain was very ill and that was occupying much of his time while he made preparations for the move. Then, he gave me the good news:

This is to notify you that you have been given a provisional appointment to be the English teacher for my children. You are selected based on your experience and passion to teach children.

A little background check was done on you this was to ensure that the data provided is accurate and that you have impeccable criminal-free record. (This is necessary because you are coming to be teaching in my apartment).

We will be arriving precisely by Sept.9th and the lesson begins on Sept 10th.
Here is our agreement:

1.Teaching for 10hrs/week.
2. That i will be paying you $540/week including Transportation as I prefer to pay weekly.
3. That you will tutor my children for 10hrs/ weeks for about 4weeks or more independing on catchups.Please confirm this agreement and let me know ASAP so i can arrange our commitment fee....

Frank Adalberto

Not only was he going to pay my travel expenses, he was going to pay me an extra $140 a week. I was floored. I had no idea what a commitment fee was, but I promptly agreed and ignored the fact that Mr. Adalberto Frank was now Mr. Frank Adalberto. He was foreign and wanted to pay me over two grand a month to teach his kids English. The commitment fee sounded like something I wasn't going to like, and I was prepared to turn the whole thing down if he wanted me pay some sort of nonsense fee just for the privilege of teaching his kids, but it turned out that he was the one paying the fee, which meant that I would be receiving a check in the mail for my first two weeks before I even met the guy and his kids. It sounded too good to be true, but he was the one paying, so there was no risk to me at all.

This is how I almost got suckered in. Frank, with his sick father and two young kids who needed a tutor, sounded incredibly convincing. His emails were frequent, his responses brief but direct. These weren't some spambot-generated, rote responses. I was talking to a real human being, so I didn't even think twice when he emailed me to say there'd been a mixup and the fee for the moving company was included in the amount his client paid me. Not to worry, he said, just cash the check and he'd let me know where to send the moving company's payment.

It's called an overpayment scam. According to the FBI agent I spoke to, the scheme is based overseas, with middlemen in the US to handle the checks. They offer you an advance on what you're supposed to be paid, then mistakenly send you a check for too much, usually double the correct amount. You cash the check and send it back to them via Western Union, and by the time your bank discovers that the check didn't clear, you're out of luck. The phony check gets cashed against your account, so it's your account that the bank will drain to cover the expense.

Once I realized this might be a scam, I did a search on the email address posted with the ad and was surprised to discover identical ads posted on lasvegas.craigslist.org and catholicjobs.com. Both were from amfrank007@yahoo.com and the Adalberto family, which meant that this was either a scam or three entirely different Adalberto families would be needing English tutors in San Francisco, Las Vegas, and Tampa. The very nice lady I spoke to at the FBI told me this was unlikely.

English tutors are not the only people at risk from these kinds of scams. I've seen postings from Math tutors, Spanish tutors -- and all of them answered similar ads from people who weren't always as convincing as Mr. Frank/Mr. Adalberto. But all of them eventually sent checks and all of them encountered similar mishaps that resulted in the overpayment of the would-be tutors. Right now it's tutors who are being targeted, but this sort of scheme is very easy to run on anyone who is happy to receive a fat advance and who is good-natured enough to return any money they weren't due.

If it sounds too good to be true, it probably is. And if they're willing to pay you before they see you work, no matter how qualified you think you are or how much you're accustomed to getting, don't cash that check if it's for more than you're supposed to be paid. Just forward the information and the check to the FBI email fraud unit.

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Tuesday, August 26, 2008

Can You Get a Good Job With Bad Debt?

People generally go to college to get the tools they need to get a great job. A degree gives you the credentials you need for professional employment. However, the job hunt doesn’t start after graduation. One of the benefits of the college experience is the opportunity to attain internships and student positions that are designed to lead to permanent placement. They’re the diamonds in the rough that lead to the very job security people attend college to obtain. My best friend landed such a job, and despite how much her employers liked her and how qualified she was for the position, she was still very uneasy about her future.

It turns out that you need more than a great resume and an education to get a good job these days.

My friend applied for a student position with the U.S. Army as a civilian working on base. She would be hired as a technical writer, which was right up her alley. As an English major and a freelance résumé writer, my friend could create instruction manuals for equipment usage or artillery assembly in her sleep. Technical writing takes a skilled pen and an analytical mind, and she has both. So, from the moment my friend saw the listing, she got excited because she knew she had a real shot. The salary was nice and they offered tuition reimbursement. She knew that this was her job. Since she is a skilled résumé writer, she has never applied for a job and not received an interview (her résumés are that good), and she knew her résumé would also serve as a preliminary writing sample. She could kill two birds with one stone!

And that’s exactly what she did.

She got a callback and an interview. In fact, there were two interviews. In both of the panel interviews that she had to undergo, she absolutely shined. She’s just one of those people who knows how and when to turn on the charm, you know? I never did as well as she does in the standard, run of the mill, one-on-one interviews most people get from potential employers; yet in two separate panel interviews, she was able to handle the pressure and even impress them. If that scrutiny weren’t enough, there was the extreme background check; she had to fill out a form that was between 40 and 50 pages long, recounting almost every significant aspect of her life. It was so detailed that she had to give the names, addresses, and contact information of every person whom she had lived with for seven days or longer over the last ten years! How can you ask a college student who has had various roommates to give you that kind of information? It was a nightmare just gathering all of the information that they required. They looked into every job she ever had and anyone who she ever called a friend. It caused me to be a bit paranoid, being her best friend since childhood. I felt like I was under the microscope, too. Yet, despite it all, she passed the very extensive background check. She told me about how much her interviewers liked her. It was an exciting time for her.

That is, until she found out that they would also be checking her credit.

We both panicked - at the time she had a little over $10,000 in unsecured debt besides her student loans. It was also bad debt - as a full time college student she wasn’t making enough to may her bills, so those accounts were in collections. If the credit check was a part of the hiring process, my friend knew she was toast. We tried to remain optimistic about it, thinking that maybe they would let it slide or somehow the results would slip through the cracks. For a moment, there was a small ray of hope; she received an acceptance letter saying that she had been hired and received clearance to begin working. Then, the dreaded reminder at the end of the letter - she would start after her pending credit check was completed.

Of course, the credit check caused a problem.

My friend was called in and her would-be manager explained that her bad credit history posed a unique security risk that would prevent her from being employed by the Armed Forces. Because she would have access to extremely sensitive information, her financial woes could very well serve as a bargaining chip for terrorists seeking information. In a nutshell, they could not afford to have people who may be desperate for money walking around an army base with access to classified information and areas. They did, however, tell her that if she paid the debt off she could reapply. Without the job, she couldn’t afford to pay off the debt. So, a great opportunity was lost because of previous financial irresponsibility. Soon after this experience, my friend, an older student at the time, filed for bankruptcy.

Ironically enough, she was later hired by the IRS!

Go figure…

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