Want to earn more money? Investopedia editor Caleb Silver has good news if you're looking to rake in more cash.

<div class="block">Want to earn more money? Investopedia Editor-in-Chief Caleb Silver has good news if you&#39;re looking to rake in more cash.</div>

Stretching Your Dollar

Some Good News for Job Seekers Who Want to Make More Money

As we kick off our first show, we want to go back to the basics. Always a good idea how to earn money so that you can do things like save spend and invest. So in the wake of the June Jobs report on Friday Invested editor in chief Caleb Silver joins me now to discuss just that. Caleb welcome. Thank you. Congrats on the new show. Thank you very fitting that you're here to launch it with me for our viewers that are tuning in. What do they need to know about today's jobs market? Today's job market is actually hotter than you might think. Despite the worries about a recession, there's still a lot of hiring going on. We've added something like 1.4 million jobs so far. This year, last year, we added about 4.3 million jobs, a record setting job here. So there's still a lot of job opportunities out there and they're in certain sectors and it's been shifting. But if you look in health care, there's a lot of hiring. If you look at it, there's a lot of hiring right now, government jobs, there's a lot of jobs out there for those kind of workers. I'm glad that you point out the tightness of the labor market is certainly that was on display, albeit slow a bit. But while we add jobs on net, there are still a decent amount of layoffs this year. Certainly a pick up that we've seen in layoffs. Should our viewers be preparing for a potential layoff? It depends what industry you're in and what you're doing within that industry. We've seen layoffs in the financial sector. We've seen it in the media sector. We've seen it in the advertising sector, but we haven't seen it broadly across the economy. If you look at where the hiring has been in the last few months. Professional and business services. Your accountants, your tax preparers, right. Your legal professionals. Lot of hiring there, health care has been strong for the past year and a half. That should remain strong going forward. Some industries got a little too bloated in the last couple of years, including media, including a lot of the internet and communications companies out there. They've been doing the aggressive layouts. They get a lot of press, but they also have a lot of workers. When is the right time to start looking for a job. Usually you want to start looking in January and February because that's when budgets are renewed. That's when companies start staffing up versus November, December. When budgets are tight, they've already made their decisions for the year beginning of the year is always good. But if you're looking for seasonal employment, that's going to be in April and May, that's going to be in November and December if you're looking for just that seasonal employment, but try to avoid the end of the year to look for a job if you can, how can you negotiate pay? Especially in this environment, you have to find out what sort of that realm is where everybody is making that does the same job in the city you live in because it does vary city to city. You have to consider your experience and you have to consider what you're offering to the company above and beyond what they're asking for, then you can negotiate pay, but you could also get creative about it. It doesn't have to be just salary. Could it be a bonus? Are there other ways to earn compensation? Company options are an option there as well? So you got to be creative sometimes to get the salary you want. It sounds like really knowing your value though and your skill set and being able to adequately communicate that really is the key here. Absolutely. But also knowing what the company needs being a solution instead of just another person looking for a job. So important when you're looking for that position and that's what hiring managers want to hear. How can you solve problems instead of how do I fit you into my organization? Now, when it comes to budgeting. How should people workers be preparing, planning for a potential emergency fund if they are worried at certain times of the year, their job may be at risk. Yes, great question. You want to have 3 to 6 months, at least of savings. So you can get through if you lose your job and you have to pay rent and pay your expenses. So it used to be just three months we're taking now six even more. If you can think about that as maybe four or five times your biweekly salary. So you can get through those tough months while you're looking for a new position, do layoffs typically happen at a certain time of the year. No, they don't. But as we get towards the end of the year and companies get tight with budgets, you might see a hiring freeze or if you go through, go through a rough patch in the economy of the markets, you'll see companies start to tighten up there and also think about maybe tightening their budgets and also hiring freezes and potential layoffs. You want to watch that? Ok. Very good advice. Caleb Silver editor in chief of Invested. Caleb. Thank you. Thank you. Good advice for how to stretch our dollar. Exactly what we're trying to do here.