Career Paths Vocabulary (Lesson 3 & 4)

Cost of Living

The total amount of money necessary to pay for the basic necessities of life plus the additional expenses associated with one's lifestyle.

Job Supply and Demand

The relationship between the number of employers looking for employees with specific skills and the number of employees with the desired skills.

Potential Savings

The positive difference between an individual's take home pay and their expenses. __________ can be saved and invested for future use.

Job Availability

A general measure of the demand for workers with specific skills. When ____________ is equal to 1 or greater, more employers are looking for employees than there are available employees.

Short Term

A relatively short period of time, generally a few years or less.

Long Term

A relatively long period of time, generally more than 5 years.

Resume

A formal document that provides a potential employer with a summary of an individual's education, work experience, skills, training and contact information.

Cover Letter

A single page formal letter that accompanies a resume and is used to highlight and clarify the information contained in the resume.

Job Interview

A formal meeting with a potential employer where the individual will answer and ask questions, to convince the employer they are the best person for the job.

Job Market

The number and availability of job openings in a given location.

Hidden Job Market

The job openings that are available in a given location that have not been advertised to the general public.

Networking

The development of a group of family, friends and acquaintances that can and will help you search for jobs.