This thought-provoking study of academic job markets over the next quarter century uses rigorous analysis to project substantial excess demand for faculty starting in the 1997-2002 period. Particularly severe imbalances are projected in the humanities and social sciences. Contrary to popular impressions, however, these projected shortages are not caused by any unusual "bunching" of retirements. The authors' discussion of factors affecting the outlook for academic employment includes information on changes in the age distributions of faculties, trends in enrollment, shifts in the popularity of fields of study, changes in the faculty-student ratio, and the continuing increase in the time spent by the typical graduate student in obtaining a doctorate.This work will appeal to a broad audience. It will be essential reading for those who are responsible for determining the size and character of graduate programs in universities, for aspiring academics who are looking for a sense of their job prospects, for college and university faculty members and administrators who must recruit new colleagues, and for those interested in the federal role in higher education.