This report focused on the goal of investigating, within a path analytic framework, the stability and interplay of two occupational status projection variables in a Texas sample. More specifically, the dynamics of occupational aspirations and occupational expectations, observed in a three-wave rural youth panel, were analyzed using the two-variable, path analytic technique for panel data developed by Heise. Standardized data were collected in a six year, three-wave panel of youth from six southern states. Levels of occupational aspirations and expectations were operationalized as follows. Occupational aspirations were determined by written responses to the open-ended question, "If you were completely free to choose any job, what would you most desire as a lifetime job?" Occupational expectations were similarly determined. The analysis generally supported the strategy of racial submodeling of mobility processes. That is, the dynamics of occupational aspirations and expectations in the black panel differed sufficiently from the dynamics of the white panel that the composite model would obscure the nature of the change. Findings also supported the contention that status projections are highly dynamic phenomena subject to process submodeling. (Author/JM)