Statistics on both the production of astronomers and the employment opportunities now available and reasonably expected for the near future are examined. Barring the sudden and unexpected restoration of basic science to public favor, there seems to be no way of restoring equilibrium between the demand and the supply in astronomical employment without a sharp curtailment in the rate of production of new Ph.D. 's. The problem will probably not be solved even if the rate of supply is reduced by one or two factors. The committee has recommended a number of steps that might be taken to increase the number of positions available to astronomers, particularly in college teaching and in industry, where astronomers are under-represented as compared with scientists in other branches of physics. The report is intended to be a guide for students preparing to enter graduate school about their chances of finding employment, and also to encourage faculty members to take appropriate steps to broaden and diversify the training of their graduate students. (LBH)