Correlation Between LinkUp Data and the BLS Reports
Partner | Industry Research | Capital Markets | Academic Research
LinkUp’s job listing data, collected daily and directly from company websites since 2007, can provide unprecedented insight into market trends at the national, metro, or individual company level.
Because job listings indicate an intent to hire, they can be used in aggregate to anticipate macroeconomic shifts in the labor market. Students from the University of Minnesota compared LinkUp’s database of aggregate job listings to reports of nonfarm payrolls released by the Bureau of Labor Statistics and found that LinkUp’s job listing data was strongly correlated to federal employment reports, determining that LinkUp data is an effective tool for constructing accurate forecasting models.
“In summary, we believe that the LinkUp Index can be effectively utilized to predict the nonfarm payroll report issued by the Department of Labor each month. This very strong correlation between the LinkUp Index and ΔNFP exists because of the very unique attributes of LinkUp’s job search engine which also makes LinkUp the strongest indicator of what is and will be happening and in the U.S. labor market of any data provider in the market today.”*
*“Statistical Correlation Between The LinkUp Job Search Engine and Bureau of Labor Statistics Jobs Reports,” Minnesota Center for Financial & Actuarial Mathematics at the University of Minnesota
