We highlight key findings from a research paper published by a data science company that analyses labour market data from an alternative source. This alt data provider covers the near-universe of online job vacancy postings. The paper analysed the potential of online job ads for: 1) predicting key US labor statistics, 2) forecasting stock returns and industry sales of the energy equipment and service sector, and 3) assessing the relationship between a firm’s online job postings growth and its operational and stock performance.
The paper highlighted 3 key findings from their study:
The study analysed ~100 million unique US job advertisements from online sources for the period January 2014 – April 2018. Daily job ads were aggregated each month to create a monthly series, which was then seasonally adjusted for comparability with the Bureau of Labor Statistics monthly job data series.
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