The economic projection that is developed by The Conference Board of Canada has two main components: domestic production and foreign production, or domestic demand and foreign demand. Foreign demand will depend on expected growth in foreign countries, exchange rates and things like that. With respect to domestic demand in Canada, that will depend to an extent also on the labour force projections that enter into the economic forecast.
Labour force growth in Canada will drive consumer expenditure in Canada, which is the largest component of total demand. From that economic projection, or projection for demand for goods and services, the Conference Board derives a projection of demand by industrial sector. From there, we derive projections by occupation. The long-term trends that we are looking at in our projections are mostly related to what is happening at the occupational level in terms of job supply, or job seekers and job openings by occupation.