Real-time labor market data, such as job postings, provide insights into labor market dynamics and can be leveraged to inform evidence-based policy. Copyright: Riccardo Mayer/Shutterstock
Real-time labor market data, such as job postings, are increasingly filling important knowledge gaps, including in developing countries. Its use began in the 2010s using data primarily from the United States, but quickly expanded to a variety of countries. Labor market actors, from policy makers and employers to job seekers, students, and all those who connect people to work, need up-to-date information about job skill requirements, in-demand occupations, and the changing nature of work. Access to detailed data is critical. .
Big data technologies make this information more readily available, providing insights into labor market trends that can be leveraged to inform evidence-based policy. This information is most needed in developing countries, where market and institutional deficiencies are pervasive, where there tends to be some of the greatest labor market challenges and where there is little understanding of local labor market conditions. of particular importance to the country.
Jobs data has been used to answer specific questions about a variety of labor topics. A body of research shows how the labor market has evolved in skill requirements, occupations, and types of tasks. Several researchers also investigated how the coronavirus affected the labor market in the immediate aftermath of the outbreak, with many previous studies suddenly halted and largely losing their relevance. He reiterated the importance of real-time labor market information sources. We also use online job postings to identify labor market trends such as overt gender discrimination, tight labor markets and skill requirements, the impact of geographic location on job searches, and the use of remote work during the COVID-19 pandemic. Some companies are revealing the dynamics of
Labor market insights are becoming increasingly diverse, but online job data has its limitations. For example, in contrast to traditional labor market information, these data may be biased toward specific sectors, occupations, company sizes, skill levels, and geographic areas, especially in settings where online posting is less prevalent. is common. Some researchers have overcome data quality issues and limitations through validation with traditional labor market data.
Despite these challenges, real-time labor market data can support efforts to create more, better, and inclusive jobs. By increasing labor market monitoring and analysis, these data can inform proactive labor market programs and workforce development policies to better align skill supply and demand. Regional economic development strategy. Equal employment opportunity policies and anti-discrimination programs. Other stakeholders can use the information, such as students to make more informed decisions about their field of study. Identify the skills that job seekers and employers need for the job. And researchers are leveraging new datasets to expand the frontiers of knowledge about labor market challenges.
Real-time labor market data
Nontraditional sources of skills data, such as online job advertisements, can address a wide range of research questions. (Napierala & Kvetan, Handbook of Computational Social Sciences for Policy, January 2023) Categorizing job ad keywords into 10 common skills reveals large variations in skill requirements, even within narrowly defined occupations. It turns out that there is. The study also found positive correlations between cognitive and social skills and external pay and company performance. (Deming and Kahn, Journal of Labor Economics, May 2018) More than 250 million job postings across five countries from 2019 to early 2023, with wide variation across cities, industries, and job types. , including a permanent shift to remote work. (Hansen et al., National Bureau of Economic Research Working Paper, March 2023) A dataset based on the text of U.S. job advertisements from 1950 to 2000, ranging from routine cognitive and manual tasks to non-routine interactions. It shows a major shift towards type and analysis tasks. than what previous studies found. (Atalay et al., American Economic Journal: Applied Economics, 2020)
essential books
The earnings premium for college graduates majoring in technology-intensive subjects declines rapidly, and these graduates move out of fast-moving occupations as they gain experience. (Deming & Noray, The Quarterly Journal of Economy, November 2020) Burning Glass Technologies’ data on online job openings is a valuable source of information about labor market demand. (Cammeraat & Squicciarini, OECD Science, Technology and Industry Working Papers, April 2021) An analysis of the skill profiles of digital and non-digital occupations in Cambodia, Malaysia, Thailand and Vietnam shows that highly digital occupations It has been shown that both cognitive and socio-emotional skills are required. skill. (Cunningham et al., World Bank, May 2022) Due to the COVID-19 pandemic, the number of job openings decreased by more than 40% by late April 2020. (Forsythe et al., National Bureau of Economic Research Working Paper, April 2020) This study reveals clear gender discrimination in the advertising population of Chinese internet job sites, with a strong preference for specific job and gender matches. Suggests that it will be overridden in skilled positions. (Kuhn & Shen, Quarterly Economic Journal, February 2023) To help strengthen the Indonesian government’s labor market information system, this report explores how online vacancy data can generate labor market intelligence. is shown. (World Bank, February 2022)
broader work agenda
ChatGPT significantly improves average productivity, reduces worker inequality in mid-level professional writing jobs, and compresses the productivity distribution as less capable workers benefit more . (Noy & Zhang, Working Paper, March 2023) Evidence from Colombia shows that vocational programs that focus on technical rather than social skills produce greater short-term benefits, but these relative This suggests that any gains will be quickly lost. (Barrera-Osorio, Kugler, Silliman, World Bank Economic Review, March 2023) New research finds that changes in Mexico’s labor demand due to trade are influencing population growth and immigration responses at the local level. It turned out that there was. (Guerrico, World Bank Economic Review, February 2023) Strengthening labor protection in China has promoted economic development in regions with high levels of human capital. (Xu et al., Electronic Commerce Research, September 2022) This paper provides tools to counter the potential decline in economic equality and performance that occurs when frontier economies adopt new general-purpose technologies. Masu. (Alexeev, “The Economics of Migration and Institutional Change”, April 2022) The return to labor market experience of immigrants to Sweden is due to the fact that the individual has a unique human capital in Sweden, either before or after entering the labor market. It doesn’t depend on whether you have earned the. (Tibajev, Social Indicators Research, March 2023) Wages are higher in companies further up the value chain, but this depends on whether workers come from developing or developed countries. (Fays, Mahy, and Rycx, IZA Discussion Paper, August 2021) Surveys in Ghana report self- and agency labor show significant differences in estimated labor productivity based on gender and marital satisfaction . (Dervisevic & Goldstein, Journal of Development Economics, March 2023)
This blog is based on the April 2023 edition of the Knowledge4Jobs newsletter, curated by the World Bank’s Employment Group and Labor and Skills Global Solutions Group. Click here to sign up for the Knowledge4Jobs newsletter.
