Industry Projections (Short-Term)
Industry projections (short-term) provide estimates of current and projected industry employment for a 2-year projections period. These data are updated annually.
Source: Indiana Department of Workforce Development
- How accurate are these industry projections?
Readers should view the estimates of projected employment as indicators of relative magnitude and probable direction rather than as estimates of absolute values. Therefore, consider the projections a starting point when studying future industry and occupational employment.
- What is the difference between short-term and long-term projections?
Besides the obvious difference that short-term projections cover a 2-year time span, and long-term projections cover a 10-year time span, there are major differences in how the data are estimated. The most significant difference is that short-term includes the rise and fall of business cycles into the estimating process. The long-term projections factor out the rise and fall of business cycles and rely more on growth and contraction of industry employment and changing staffing patterns within industries.