Sue just posted about the tough outlook for teen jobhunters. Many youngsters, including President Obama's daughters Sasha and Malia, get their first taste of employment on the homefront, by doing chores for a weekly allowance.

President Obama has said that he gives his seven and ten-year-old daughters just a dollar a week each for their chores, such as setting the table, rinsing dishes, and cleaning up their play area and closets. That amount has drawn flack in the blogosphere as being a tad low. (One critic even urged President Obama to provide a 'fiscal stimulus' for his daughters.)

Tying chores to pay, or even giving allowances at all, are themselves controversial. Some families believe that everyone in the family should pitch in on housework, and that kids shouldn't have to be compensated for doing so. Payment-for-chores proponents, meanwhile, argue that kids shouldn't just get allowances for nothing, and that such payments can help kids learn crucial money-management skills.

For those who choose to give allowances, determining appropriate rates can be a headache, especially in these tough economic times. One tip: keep track of how much you spend on your child daily for two weeks and set an amount based on the average daily amount. Kids can start receiving allowances around ages 4 or 5, when children start to understand how money works.

Rachel Emma Silverman