Forecasting Labor Demand in University Education Level
Keywords:
Forcasting, Labor Demand and Labor Supply, Higher EducationAbstract
The objective of this study was to forecast labor demand in university education level quantitatively.
It would be benefit for planning to produce labor in university level and comparing the
demand and supply of labor in university level. In this study, we forecast the demand for each
area such as social, science, engineer and health science and separate into 16 industries by
ARIMA model. The results show that industries do not have tendency to change their behavior
of using labor. The only factor to determine demand for labor is industry growth. Social area is
used the most, so that it is the area that has highest demand. However, university has been
produced this area also and according to the forecasting result it would be oversupply in this
area. Engineering area also has the same situation as social area. While the growth rate of
demands for science and health areas are not much, but compare to the supply for those two
areas they would be over-demand.
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