• Employment Forecasting ModelVarious Municipalities
Employment Forecasting Model1

Municipal Employment Forecasting Model

Applications’ Employment Forecasting Model projects municipal and/or regional employment based on forecasts of economic growth by industry sector. The model defines each industry sector using 2 digit North American Industrial Classifications (20 industries). These industries can be modified to define locally relevant industry groups or clusters. Based on the industry growth rates assigned to each industry group, employment projections are generated incorporating assumptions of output production and worker productivity. This model can be incorporated with the Municipal Population Forecasting Model to estimate the labour force and population required to provide a sufficient number of workers to accommodate the economic growth projection. Using both models can provide a complete picture of residential and non-residential growth.