NotesFAQContact Us
Collection
Advanced
Search Tips
ERIC Number: EJ875452
Record Type: Journal
Publication Date: 2010
Pages: 4
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0199-4786
Overall Economy
Occupational Outlook Quarterly, v53 n4 p45-48 Win 2009-2010
The economy's need for workers originates in the demand for the goods and services that they provide. So, to project employment, the Bureau of Labor Statistics (BLS) starts by projecting the gross domestic product (GDP) for 2018. GDP is the value of the final goods produced and services provided in the United States. Then, BLS estimates the size--in inflation-adjusted dollars--of the five major categories of production. Next, BLS breaks down these major categories into more detailed ones, such as the production of automobiles or the provision of medical services. Changes in the level and composition of production often affect industry employment levels. Industry employment levels are also affected by changes in labor productivity--the amount an employee produces per hour of work. Because of technological advances, for example, some industries are able to increase output with fewer employees. This article presents growth charts that show annual rates of change instead of the percent change over the entire projections decade. Annual rates are used here, in part, because they are the measure used for other economic indicators, including inflation. To show changes in demand more accurately, dollar amounts in these charts are given not in current dollars but in 2000 chain-weighted dollars. This means that amounts have been adjusted for changing prices over time.
Bureau of Labor Statistics. Division of Information and Marketing Services, 2 Massachusetts Avenue NE Room 2850, Washington, DC 20212. Tel: 202-691-5200; Fax: 202-691-6235; e-mail: ooqinfo@bls.gov; Web site: http://www.bls.gov/ooq
Publication Type: Journal Articles; Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: United States