Chapter 13.
Employment Projections

Accuracy
The projection process at the Bureau of Labor Statistics does not end with the development and publication of a set of projections. Once the target year is reached, BLS evaluates the projections to determine what changes in assumptions or models would have made them more accurate. Knowing the sources of errors helps improve the projection process. It also highlights for users the imprecise nature of making statements about future economic conditions, industrial activity, or employment growth and provides some empirical basis for attaching subjective probabilities to the results of current projection studies.

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