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Economic growth
The economy’s need for workers originates in the
demand for  goods and services, which is measured by
the gross domestic product, or GDP. The GDP is a measure of goods and services
produced in the United States.
Domestic and international consumers—including individuals, businesses, and
governments—purchase items included in the
GDP. These purchases fall into five categories:
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Personal consumption expenditures. This category
includes purchases by individuals of goods (such as automobiles, homes, clothes, and food) and services (such
as transportation, education, and healthcare).
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Gross private domestic investment. Major business purchases, such as buildings and factories, machinery,
software, and computers, make up these investments
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Government purchases. This category includes goods and
services purchased by Federal, State, and local governments.
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Exports. Exports are goods and services produced in the
United States and purchased by individuals, businesses, and governments in foreign countries.
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Imports. Imports are goods and services produced abroad
and purchased by U.S. citizens, businesses, and governments. Because GDP measures production in the
United States, the value of imports is subtracted from the other four categories of GDP.
Changes in the level and composition of the GDP will affect
industry production and employment levels. Similarly, an increased level of business investment in microcomputers will
increase employment in the computer industry and in all those industries,
such as electronic components, that provide inputs to the computer industry.
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