Definition: Job outlook is a forecast of what employment will be like for a particular occupation in the future. It is important to take note of it when you are exploring an occupation since it can help predict your chances of finding a job in the future.
How is Job Outlook Forecasted?To estimate job outlook, economists who work in the US Bureau of Labor Statistics Office of Occupational Statistics and Employment Projections compare an occupation's projected employment change, usually over a ten year period, with the average projected change in employment for all occupations combined over the same time period. They describe an occupation's projected employment change by saying it will:
- grow much faster than average
- grow faster than average
- grow about as fast as average
- grow more slowly than average
- have little or no change
- decline slowly or moderately
- decline rapidly
The economists may also compare the number of job seekers with the number of job openings in order to estimate job prospects in the occupation.
Also Known As: occupational outlook, employment outlook
Examples: That career has a very good job outlook. The US Bureau of Labor Statistics predicted that employment will grow faster than average over the next ten years.