Labor force and macroeconomic projections overview and highlights, 2022–32

The U.S. Bureau of Labor Statistics projects subdued labor force and employment growth over the next decade. This growth is expected to affect gross domestic product (GDP), which is projected to grow at a modest annual rate of 1.9 percent. Labor force, employment, and GDP growth have rebounded substantially since the 2020 recession induced by the COVID-19 pandemic. This rebound leaves less room for growth as the economy appears to be at or near full employment. Additionally, demographic trends continue to lower population and labor force growth rates. Each year, the U.S. Bureau of Labor Statistics (BLS) publishes the U.S. job outlook for the next 10 years. Underlying this job outlook are projections for the labor force and the aggregate economy.