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Using alternative data to assess employment trends

We summarise an economic study that constructs coincident employment indices with high-frequency data to identify trends in US labour market during the pandemic. Given the significant lags in traditional employment statistics, the paper finds value in using alternative data sources to gain critical information on changing labour market dynamics in real-time.  

LITERATURE

In this Literature Review, we highlight key findings from the study Assessing Labor Market Conditions Using High-Frequency Data, published in October, 2021 by the Federal Reserve Bank of St. Louis.

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