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Article: Economic growth.(United States economy)
- Article from:
- Occupational Outlook Quarterly
- Article date:
- December 22, 2003
CopyrightCOPYRIGHT 2003 U.S. Government Printing Office. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The economy's need for workers originates in the demand for the goods and services they provide. So, as a first step in projecting employment, BLS estimates the final demand for goods and services produced in the United States, a measure called gross domestic product (GDP). Then, BLS estimates the size of the five major categories that make up dernand. The categories are the following:
* Personal consumption expenditures. These include purchases by individuals of goods (such as automobiles, clothes, and food) and services (such as education, healthcare, and rent).
* Gross private domestic investment. This includes business investment in equipment and ...