TIME Careers & Workplace

5 Huge Resume Mistakes That Will Ruin You

Resume
Mark Stahl—Getty Images

Avoid these at all costs if possible

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This post is in partnership with The Muse. The article below was originally published on The Muse.

Laszlo Bock, Google’s senior vice president of people operations, estimates that he’s personally reviewed more than 20,000 resumes over the course of his career.

First of all, we’re sorry for him.

But secondly, we’re pretty sure he knows a thing or two about what makes a resume shine and—perhaps more importantly—get tossed in the trash.

In fact, he shared his insights earlier this week in a LinkedIn Influencer post. Here’s what he had to say about the five biggest mistakes he sees candidates making, plus our expert tips for making sure your resume doesn’t include any of these blunders.

Mistake #1: Typos

We know—you’ve heard it. But while “this one seems obvious,” Bock writes, “…it happens again and again. A 2013 CareerBuilder survey found that 58% of resumes have typos.”

The Fix

Have someone else read your resume—often, other people can more easily spot errors because they haven’t been staring at the page for hours. If that’s really not possible, use Muse editor-in-chief Adrian Granzella Larssen’s tips for proofreading your own resume: “It’s helpful to temporarily change the font, or to read your resume from the bottom up—your eyes get used to reading a page one way and can often catch new errors when you mix the format up.”

Finally, once you’ve reviewed it, stop making those final tiny changes. “People who tweak their resumes the most carefully can be especially vulnerable to this kind of error,” explains Bock, “because they often result from going back again and again to fine tune your resume just one last time. And in doing so, a subject and verb suddenly don’t match up, or a period is left in the wrong place, or a set of dates gets knocked out of alignment.”

Mistake #2: Length

Thinking about letting your resume creep onto the next page? Think again. “A good rule of thumb is one page of resume for every 10 years of work experience,” says Bock. “A crisp, focused resume demonstrates an ability to synthesize, prioritize, and convey the most important information about you.”

The Fix

For most of us, Bock’s rule of thumb means one page—two, tops. If you’re having trouble squeezing all of your experience onto one page, remember that a resume doesn’t have to (in fact, shouldn’t) be a chronicle of your entire career history—it should be a marketing document that uses your relevant skills and experiences to illustrate to the hiring manager why you’re the one for the job. To hone in on what really matters and cut the fluff accordingly, try Liz Elfman’s tips for getting everything on one page.

Mistake #3: “Creative” Formatting

When it comes to resumes, Bock says, substance definitely matters more than style. He’d definitely prefer to see a simple, traditional, perfectly formatted resume than something creative that’s tough to read. “Unless you’re applying for a job such as a designer or artist, your focus should be on making your resume clean and legible,” he writes.

The Fix

When in doubt, go simple and spend most of your time sharpening your bullet points rather than making them look great. (In fact, make your life really easy and download one of these resume templates.) Then, make sure the formatting looks great no matter what program it’s opened in. As Bock recommends, “If you can, look at it in both Google Docs and Word, and then attach it to an email and open it as a preview.” Saving your resume as a PDF rather than a .doc file should help alleviate any formatting problems in different programs.

Mistake #4: Confidential Information

In his post, Bock shares a story of candidate who worked for a top consulting firm with a strict confidentiality policy. So, when the candidate wrote on his resume that he “consulted to a major software company in Redmond, Washington”—a.k.a. Microsoft—he was immediately rejected. Sure, the candidate didn’t break the policy, per se—but he definitely didn’t inspire trust in his potential employer.

The Fix

For anything you put on your resume (or say in an interview, or publish on a blog, you get the picture, follow the New York Times test, says Bock: “if you wouldn’t want to see it on the home page of the NYT with your name attached (or if your boss wouldn’t!), don’t put it on your resume.”

Mistake #5: Lies

As Bock explains: “People lie about their degrees (three credits shy of a college degree is not a degree), GPAs (I’ve seen hundreds of people “accidentally” round their GPAs up)… and where they went to school (sorry, but employers don’t view a degree granted online for “life experience” as the same as UCLA or Seton Hall). People lie about how long they were at companies, how big their teams were, and their sales results, always goofing in their favor.”

And we probably don’t have to tell you what hiring managers think about that.

The Fix

Just remember what your mama told you: Honesty is always the best policy. If you feel like there’s part of your background that’s not quite up to snuff, your best bet is creative—but truthful—positioning. Career expert Kari Reston shares smart strategies to applying for a job you’re underqualified for, and Jenny Foss of jobjenny.com shares tips for crafting your education section when you don’t think your degree (or lack thereof) will impress.
These mistakes seem pretty basic, but if Google sees them all the time? You can bet every other employer does, too. The good news is, they’re all totally avoidable. Make sure your (one- to two-page) resume is squeaky clean, and you’re already ahead of the game.

TIME Careers & Workplace

10 Job Skills You’ll Need in 2020

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Buena Vista Images—Getty Images

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This post is in partnership with The Muse. The article below was originally published on The Muse.

The world of work—and the world in general—is changing. People are living longer, new technologies are emerging, and we’ve never been more globally connected. That means the skills we use now in the workplace are not necessarily the skills we’ll need in the future.

To get a sense of what skills you might want to start investing your time into developing, check out the infographic below. (Note: It might sound like 2020 is really far into the future, but it’s actually only about five years away.)

Important Work Skills for 2020

Infographic courtesy of Top10OnlineColleges.org.

TIME gender

I’m Beautiful, But Hire Me Anyway

Physical attractive ought not work against you—but in HR offices it might
Physical attractive ought not work against you—but in HR offices it might Johnny Greig; Getty Images

Employers often discriminate against attractive women. Here's why—and what the women themselves can do about it

It has ranked among the top ten irritating TV ads of all time. “Don’t hate me because I’m beautiful,” pouted actress and model Kelly LeBrock back in 1980, tossing her hair coquettishly as she shilled for Pantene shampoo. What few people realized at the time was that the tag line came close to describing a real type of discrimination. It wasn’t in the form of jealousy from other women, as the commercial implied; that trope has never really held up to much scrutiny. But beautiful women do face other challenges; a study published just the year before the Pantene ad ran showed that attractive women often encounter discrimination when applying for managerial jobs—with beauty somehow being equated with reduced authority or even competence. The authors called it the “beauty is beastly” effect.

What the study didn’t address, says Stefanie Johnson, assistant professor of management and entrepreneurship at the University of Colorado, Boulder, is what women are supposed to do about it. Neither did a study she herself conducted in 2010 which showed that the effect applied to a wide range of jobs normally thought of as masculine.

But a new study Johnson and two colleagues just published in the journal Organizational Behavior and Human Decision Processes does tackle the question more directly. The improbable-sounding conclusion: if you’re beautiful and female, acknowledge it. Simple as that.

Well, not quite that simple. The research doesn’t suggest attractive women say straight out, “Yes I know, I’m gorgeous.” It is, says Johnson, “a little more subtle than that.” What she and her colleagues did was to recruit 355 students, male and female, and ask them to evaluate four fictitious candidates for jobs in construction—three male and one female. The applications included photos, and the female applicant was either unusually attractive or unusually unattractive—qualities evaluated by an independent crowdsourcing group.

In some cases, the attractive woman made no reference to either her appearance or her gender in the written application. In others, she referenced her appearance, but subtly, writing something like “I know I don’t look like a typical construction worker, but if you look at my resume, you’ll see that I’ve been successful in this field.” In still others, the attractive woman referred to her gender in a similar way (“I know there aren’t many women in this industry”), but not her beauty.

The unattractive female applicants did the same (although the “I known I don’t look…” part was may have been seen as a mere reference to her gender). In general, the “employers” tended to hire attractive women more often if they alluded either to their gender and to their beauty. With the unattractive woman, referencing gender directly made no difference—but referencing appearance made them less likely than average to be hired.

The study does have holes—rather gaping ones, actually. For one thing, the construction industry is not remotely typical of the field in which gender bias usually plays out. Like it or not, there is a real reason most construction workers are men—and that’s because they are, on average, physically larger than women and have greater upper body strength as a result. It’s the reason we have women’s tennis and men’s tennis, a WNBA and an NBA and on and on. As with the less attractive candidates in the study, the attractive ones’ reference to their appearance might well have been interpreted to mean simply that the typical applicant appears—and is—male. Johnson’s findings would carry a lot more weight if her hypothetical candidates were applying for the kinds of positions in which the gender wars really do play out—vice president of marketing in a large corporation, say.

Still, as a starting point, her research has value, and she does appear to be onto something. “What we think may be going on,” Johnson says, “is that the person doing the [hiring] has an unconscious bias.” But when that bias is brought to the conscious level, triggered by the woman’s addressing it head-on (sort of, anyway), it loses force. “Once you acknowledge it,” says Johnson, “it goes away.”

The takeaway message, she argues, is not that you should feel sorry for good-looking women, since attractive people, both male and female, have all sorts of advantages overall. “It’s more that we’re exposing a more subtle form of sexism,” she says. “People are still stereotyping women.” That, all by itself, is a form of discrimination, even if in this case it’s a form few people think about.

MONEY Jobs

Why Low Job and Wage Growth is Worse Than Rising Inflation

Hot air balloons floating higher and higher
Jon Larson—Getty Images

As the economy picks up steam, and employers add more workers, investors say that inflation is their biggest impediment to saving. Here’s why they’re wrong.

As the economy added another 248,000 jobs in September, pushing the unemployment rate to a post-recession low of 5.9%, investors are feeling more confident.

In fact, investors are more optimistic than they’ve been since the recession, per a recent Wells Fargo/Gallup survey which measured the mood of those with more than $10,000 in investable assets. Of course the so-called Investor and Retirement Optimism Index is still only at around half the levels of the 12-year average before the 2008 recession. Investors may be more sanguine than three months ago, but that doesn’t mean they think the economy is going gangbusters.

Nevertheless, there was one particularly interesting data point in the survey: “Half of investors (51%) think the pressure on American families’ ability to save is due to rising prices caused by inflation.” Meanwhile only 37% said the pressure was inflicted by stagnant wage growth.

Which is strange.

What inflation?

If you look at the Federal Reserve’s preferred measure of core inflation (which strips out volatile energy and food prices), prices have risen around or below the Fed’s stated 2%-target since the recession.

The Consumer Price Index, a gauge of inflation released by the Labor Department, actually fell on a monthly basis in August for the first time in more than a year, and only grew at an annual rate of 1.7% since this time last year.

Proclamations of rising inflation ever since the Federal Reserve started buying bonds and lowering interest rates in response to the recession have yet to materialize. And those advanced economies that did raise interest rates a few years ago (like Sweden), have come close to deflation.

Meanwhile wages aren’t growing at all. Average hourly earnings in August rose 2.1% versus the same period last year, and the growth rate has been stuck at around 2% since the recovery. The same is true for the employment cost index, which measures fringe benefits in addition to salaries. Ten years ago the index increased by 3.8%.

REALERw
St. Louis Federal Reserve

 

While the unemployment rate has fallen considerably this year, other gauges of jobs are still troubling. Long-term unemployment has tumbled since its post-recession peak in 2010, but there are still almost 3 million people who’ve been unemployed for 27 weeks or longer. If you include workers who’ve recently stopped looking for a job and those working part-time when they’d rather be full time, the unemployment rate is 12%, more than four percentage points above the pre-recession level.

The Fed has implemented an easy monetary policy in order to attack this problem. “The Fed is keeping interest rates low as long as they can and maintaining very loose policy in support of jobs,” says USAA Investments’s chief investment officer Bernie Williams. “They will only tighten up with great reluctance.”

Pick your poison: stronger wages or rising inflation?

In a battle between pushing wages higher and the risk of inflation, the Fed is willing to err on the side of rising wages, says Williams.

BMO senior investment strategist Brent Schutte agrees. “As a society, you decide what is good. Economics is a choice between two things. We’ve clearly decided that higher inflation and rising wages is a good thing.”

Despite years of effort, though, the Fed hasn’t been able to bring back rising wages.

If you’re still unconvinced that a lack of salary increase and slack in the labor market should be more of a concern to your finances than the threat of inflation, check out new research by former Bank of England member David Blanchflower.

Along with three other co-writers, Blanchflower recently published a study titled, “The Happiness Trade-Off between Unemployment and Inflation.”

The researchers found that unemployment actually has a more pernicious effect on happiness than inflation. “Our estimates with European data imply that a 1 percentage point increase in the unemployment rate lowers well-being by more than five times as much as a 1 percentage point increase in the inflation rate.”

In an interview with the Wall Street Journal, Blanchflower said, “Unemployment hurts more than inflation does.”

As the economy gently improves, and people start going back to work, the hope is that wages will start to rise. Inflation might then rise above the Fed’s 2% target, and Yellen and Co. may raise rates in effort to cool off the economy. But we’re not there yet. And investors, for the sake of their wallets and psychology, would do well to remember that.

MONEY Jobs

Unemployment Rate Falls to 5.9% on Strong Job Growth

The unemployment rate is the lowest since 2008.

The economy added 248,000 jobs in September, the Bureau of Labor Statistics reports, beating analyst expectations and improving significantly over August’s disappointing numbers. The bureau’s last monthly release showed the U.S. only adding 142,000 jobs, the fewest in eight months. Friday’s data could help quell any fears of a worsening employment climate.

Today’s nonfarm payroll report also showed the unemployment rate falling to 5.9%, down from 6.1% in August and the lowest since July of 2008. The labor force participation rate — the percentage of the workforce that is either employed or actively looking for work — remained mostly static at 62.7% as older Americans continue to drop out of the work force. The unemployment rate has dropped by 0.7% in 2014, but still remains about 1.5 percentage points higher than its pre-crisis lows.

 

Despite an increase in hiring, average hourly earnings did not budge. Wages growth was static in September, and hourly wages have increased just 2% over the year.

Economists and investors have been closely watching monthly jobs numbers, partly to glean insight into when the Federal Reserve will begin to raise interest rates. Fed chair Janet Yellen has made employment growth a key factor in determining monetary policy, and repeatedly cited labor market slack as a reason for keeping rates at historic lows. However, as MONEY’s Taylor Tepper notes, Yellen is unlikely to raise interest rates in the near future due to inconsistent employment numbers and concerns over a shaky global economy, particularly in Europe.

MONEY’s Pat Regnier points out that while consumer spending has largely recovered since the housing crash, construction and government spending has not. Until public spending begins to return to pre-recession levels, job growth may continue to be especially sluggish. September showed little increase in government spending.

TIME Workplace & Careers

This Is Where All of America’s Employed Bachelors Live

It's raining men, especially along the Tennessee—Kentucky border

Roughly eight in 10 single women who want to tie the knot one day say it’s “very important” to them that their future spouses hold down a steady job, according to a recent poll by Pew Research. Less than half of the surveyed men felt the same way. In either case, Pew Research has created an interactive map of the marriage market to showcase which parts of the country tend to have a bumper crop of employed bachelors and bachelorettes:

 

The highest concentration of single men with jobs is in the city of Clarksville, straddling both sides of the Tennessee-Kentucky border. They outnumber the women 145 to 100.

Interestingly, there isn’t a single city in the nation where employed, single women outnumber the men. They live in the highest concentration in Lewiston-Auburn, Maine, at a roughly 1 to 1 ratio with the male population.

But the most intriguing differences emerge depending on the definition of “eligible.” If the goal is to find the highest proportion of bachelors, then large swathes of Arizona, Indiana and Louisiana offer favorable odds, but refine the goal to employed bachelors and suddenly those states appear to be wastelands. It reveals how drastically the marriage market can change depending on what you’re looking for, and how unlikely it is that a map of just one or two preferences will lead to that life-long mate.

Then again, it doesn’t hurt to look.

TIME Workplace & Careers

The Resume Section That Matters More Than You’d Think

Resume
Mark Stahl—Getty Images

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This post is in partnership with The Muse. The article below was originally published on The Muse.

By Lily Zhang

What section headings do you have on your resume? Let me guess: “Experience,” “Education,” “Additional Information,” and maybe a “Summary” section. That about covers it, right?

Well, if your resume doesn’t have a “Skills” section, you’re seriously missing out on an opportunity to showcase, you know, your skills. In fact, this is the most straightforward way for you to show to a hiring manager what you can accomplish in the position on day one.

The trick is, of course, figuring out what to actually include to illustrate what you bring to the table. While there’s no real go-to list of skills for you to pick and choose from (unfortunately), you can get pretty close by following these three steps.

Step 1: Review the Job Description

The most obvious place to look for the skills that the hiring manager will find exciting and eye-catching is the job description itself. Usually, for any given position, you’ll find minimum qualifications and preferred qualifications. For example, for an app developer position, you might find “programming experience in Java, Objective-C, or C++” listed under minimum qualifications and “deep technical knowledge of mobile application development (either Android or iOS)” under preferred qualifications.

Mine the job description, find all the low-hanging fruit, and, of course, decide for yourself if you feel comfortable listing those skills on your resume. (Obviously, lying won’t get you very far.)

Side note: While you’ll sometimes find soft skills, like organizational or communication skills, listed as qualifications, it’s important to point out that “Skills” sections are usually reserved for hard skills.

Step 2: Do Some Digging on LinkedIn

Next, pop the job title of the position you’re applying to into LinkedIn and have a look at some other professionals who are doing what you want to be doing. Scroll down to their “Skills” sections and look for trends in what’s listed. They might be different from what’s listed on the job description, but if you see them over and over, they’re clearly good to have in the field. Using the same example, for an app developer you might find “data structures,” “graphic design,” or “XML.”

Step 3: Don’t Limit Yourself to Skills

Now that you have a pretty good list of skills going for your target position, consider expanding beyond that. In fact, you don’t have to limit yourself to just a “Skills” section; you can create a “Skills and Projects” section that describes freelance gigs you’ve done or a “Skills and Interests” section that describes some of your relevant professional interests. If it makes sense, you might even want to pop job-related coursework into this section.

Lastly, don’t forget to include skills that you have that are always good to list regardless of the position, like foreign languages or technical certifications.

All in all, you should have two to three lines of skills, ideally broken up into sensible subsections, like “Technical,” “Courses,” and “Languages,” to keep it all tidy. If you have relevant work experience for the positions you’re applying to, place your “Skills” section at the end of your resume. On the other hand, if you’re looking to break into a new field, it makes more sense for you to place this section closer to the top—maybe even before your “Experience” section.

Whatever you decide to go with, your resume will definitely benefit from having a designated place for a hiring manager see what skills you bring to the table quickly.

More from The Muse:

TIME Workplace & Careers

10 Jobs for People Who Hate Networking

Laptop on desk
Klaus Vedfelt—Getty Images

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This post is in partnership with The Muse. The article below was originally published on The Muse.

Looking for a new job? Or, just want to do some window shopping? Check in every week for a hand-picked selection of awesome jobs from our partner companies.

This week, check out 10 jobs made for people who really don’t like having to network to help the company grow. From copywriters to software engineers, in these roles, you may work with people, but there’s no fostering relationships with external parties required.

1. Client Support Manager

Century Interactive, Dallas

If you hate having to reach out to people, what’s better than having people come to you? Century Interactive is looking for a Client Support Manager who can work with customers and make sure that they get the help they need understanding how to use CI’s products, tools, and services.

Apply Now

See What it’s Like to Work at Century Interactive

2. News Assistant

NFL, Los Angeles

If you’re looking for a way to get up close and personal with a newsroom, now’s your chance. The NFL is seeking a News Assistant who can do it all: be open to weekend or overnight shifts, be able to stay calm under pressure-filled and deadline-driven situations, and be excited to keep up with the rest of the news team.

Apply Now

See What it’s Like to Work at the NFL

3. Director of Operations and R&D

Sir Kensington’s, New York

Sir Kensington’s is seeking an operations savant who can assist with new product development, make sure safety standards are being met at packing facilities, and coordinate all freight rates and vendors.

Apply Now

See What it’s Like to Work at Sir Kensington’s

4. Copywriter

Thinkful, New York

Love writing and want a job that has nothing to do with building client relationships? Thinkful’s Copywriter position may be right up your alley. In this role, you’ll be creating every piece of copy for the brand, collaborating with Thinkful’s team, and ensuring that Thinkful’s message is consistent across platforms.

Apply Now

See What it’s Like to Work at Thinkful

5. Executive Assistant

Livefyre, San Francisco

Being communicator-in-chief at the Livefyre offices sounds pretty awesome to us! As an Executive Assistant, you’ll be doing everything, including booking travel plans, balancing agendas, and handling expenses for the executive staff.

Apply Now

See What it’s Like to Work at Livefyre

6. Junior Designer

HZDG, Washington DC

If you love having clients come to you, HZDG is seeking a Junior Designer with a knack for staying calm and enthusiastic in a fast-paced, deadline-driven environment. And wait: HZDG has weekly food trucks that stop by the office? We’re sold.

Apply Now

See What it’s Like to Work at HZDG

7. Staff Accountant

Sailthru, New York

Number crunchers, rejoice: Sailthru is looking for a Staff Accountant to process transactions, maintain payroll, and keep up with all company bank accounts to ensure that the money end of the company is running smoothly.

Apply Now

See What it’s Like to Work at Sailthru

8. Systems Administrator

SevOne, Wilmington

SevOne is seeking a Systems Administrator who can perform backups and restorations of all network servers, assist users on these networks, and help maintain voice communications systems. Experience with VMware and vSphere is a must.

Apply Now

See What it’s Like to Work at SevOne

9. 3D Animator

Pocket Gems, San Francisco

If you know how to rig and animate complex models as well as create cinematic and game trailers, Pocket Gems has an awesome 3D Animator job that may be just what you’re looking for.

Apply Now

See What it’s Like to Work at Pocket Gems

10. Software Engineer

CommonBond, New York

CommonBond’s Software Engineer needs to be a multitasker who’s able to design, build, test, and maintain world class applications while also being enthusiastic when collaborating with the rest of the CommonBond team to put out the best products possible.

Apply Now

See What it’s Like to Work at CommonBond

More from The Muse:

MONEY Jobs report

How the Fed Will React to Today’s Surprising Jobs News

140905_INV_JobsReport3
altrendo images—Getty Images

The fact that employers created fewer jobs than expected in August only emboldens the Federal Reserve to keep rates low for the time being.

The Fed is unlikely to raise interest rates this year — and not just because of Friday’s disappointing jobs report.

Though the economy fell short of adding 200,000 jobs in August — as it had in the six prior months — the unemployment rate remains at a better-than-expected 6.1%. Consumer confidence, meanwhile, rose in August and the economy grew by a robust 4.2% last quarter.

Many have long-waited for the time when the economy picks up and the Federal Reserve raises interest rates along with it. Even the presidents of the St. Louis and Philadelphia Federal Banks recently said the nation’s central bank should raise interest rates sooner than expected thanks to job gains and slightly rising inflation.

But given muted inflation and the growing concerns in Europe — where the economy threatens to slip back into recession and central bankers are still slashing rates in a desperate attempt to jumpstart business activity in the region — Fed chair Janet Yellen was unlikely to act soon. And today’s Labor Department report, showing that only a modest 142,000 jobs were created in August, only reinforces this.

Jobs

The unemployment rate has already dropped more than half a percentage point this year.

US Unemployment Rate Chart

US Unemployment Rate data by YCharts

But that’s just one way to look at the labor market. Another is the labor force participation rate. Since younger Americans tend to go school, and Baby Boomers are beginning to retire en masse, you can look at the participation rate for workers between the ages of 25 to 54. Before the recession almost 80% of those Americans were working or looking for a job. Now, 77% are. To put that into perspective, 81% of prime aged workers in France participate in the labor force.

Another, more inclusive, employment metric is the so-called U-6 rate of unemployment — which includes unemployed workers, Americans who want to work but have stopped looking for a job, and part-time workers who’d rather put in full-time hours. The U-6 rate has dropped from about 17% after the recession to 12% now, but that’s still close to four percentage points higher than before 2008.

u-6

Here’s Yellen from her Jackson Hole speech a couple of weeks ago:

At nearly 5% of the labor force, the number of such workers is notably larger, relative to the unemployment rate, than has been typical historically, providing another reason why the current level of the unemployment rate may understate the amount of remaining slack in the labor market.

Inflation

Despite predictions of increased inflation thanks to unorthodox monetary policy, deflation has been a bigger concern since the recession than inflation. Nevertheless, some central bank officials are still worried about an unexpected rise in prices thanks to an improving jobs situation and want to head off that potential rise with higher interest rates.

As Philadelphia Fed President Charles Plosser said on a Bloomberg Radio interview, “I would rather us get started raising rates sooner and raise them more gradually than put them off and have to raise them very quickly.”

The Congressional Budget Office disagrees. The non-partisan agency predicted that over the next 10 years inflation will only rise around 2% a year, in a recent report. “CBO anticipates that prices will rise at a modest pace over the next several years reflecting slack in the economy and widely held expectations for low and stable inflation.”

Right now core inflation, according to the Federal Reserve’s preferred measurement, grew by 1.5% in July over the previous 12 months. That’s well below the Fed’s target rate of 2%.

Europe

Depressed Americans need only look across the pond to see how badly our recovery could be going. The Euro zone area experienced no growth in the second three months of 2014. Combine that with ultra-low inflation and you have the recipe for economic stagnation. Even the vaunted German economy stalled.

This three-year experience of little economic traction follows the European Central Bank’s decision to raise interest rates in 2011 during the sovereign debt crisis in order to fight inflation. Quash it they did. Prices recently rose by an annual rate of only 0.3% in August in the 18-country Euro zone, prompting ECB President Mario Draghi (who wasn’t in charge back then) to drop interest rates to an all-time low of 0.05%.

Eventually American consumers will see raises and go off and spend that extra cash. Demand will not stay depressed forever, and the Fed will one day raise interest rates. That decision, though, is more likely to be later than sooner.

MONEY

Job Report Misses Expectations, Fewest Jobs Added in 8 Months

The U.S. economy added only 142,000 jobs in August, the slowest employment growth in 8 months.

The economy added 142,000 jobs in August, substantially missing analyst expectations, according to the latest data from the Bureau of Labor Statistics. Economists had predicted another month of high employment gains, with estimates predicting that 225,000 positions would be added. Instead, the August hiring missed that number by almost 40% and signalled the lowest employment growth in eight months. Unemployment remained virtually static at 6.1%.

The report also showed the number of long-term unemployed persons declined by 192,000 to 3 million in August. This group currently makes up about a third of the overall unemployed population, but has declined by 1.3 million over the past year. The labor force participation rate — the percentage of workforce that is either employed or actively looking for work — remained mostly unchanged at 62.8%.

Friday’s numbers were a surprise considering recent economic growth.

One important question is how the Federal Reserve will interpret the report. As MONEY’s Taylor Tepper reports, Fed chair Janet Yellen has made stronger employment growth a core part of her monetary policy, and has signaled the Fed will raise interest rates only when slack in the labor market decreases. Slow job growth may convince the central bank to hold back on rate increases even longer and wait for further employment gains.

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