The key to correct forecasting, of course, is to be able to anticipate both the economy, and the decisions of the administration and Congress on allocation of federal funds. Continued emphasis on the President's Strategic Defense Initiative means more demand for physicists, computer specialists, aeronautical engineers and materials scientists. A decision to rebuild the nation's infrastructure would create demand for civil engineers and architects, while more funding for health research and care for an aging population or AIDS patients would increase jobs for biomedical specialists. A flat or falling economy reduces demand for all workers; Unfortunately, we don't anticipate political decisions or economic trends very well.
Although we speak of supply and demand as though they were actual, measurable numbers, this really is not true. Simplistically, we project supply as the number of new graduates expected, plus cur rent workers minus those who die or retire. Actually, supply always includes ...
