Real-Time Labor Market Intelligence
Job listings posted by employers can provide rich data about what’s happening right now in the labor market. After all, it’s through their job postings that employers across the spectrum of industries and occupations express their need for specific workers, and when aggregated, the information mined from these listings can paint a rich picture of demand for a particular geography, industry, occupation or skill. Which occupations are most in demand in a region? What skills, certifications, and educational credentials are required? What industries are growing? Which employers are hiring and for what jobs? What is the skill mix needed to support emerging clusters? Online jobs postings represent a powerful, real-time supplement to published data series from the Bureau of Labor Statistics or other sources which tend to rely on survey data that take several months or longer to report.
To report on online job information, Burning Glass applies our patented job aggregation technology to search for job listings from over 17,000 sources, including employer websites, job boards, newspapers, and government agencies. From this, we compile a database of over 7 million current job listings, updated daily – representing the world’s most comprehensive repository of job openings.
But even the most comprehensive database isn’t very useful if the information it represents lacks the specificity to be actionable. It’s not enough to know that, for example, jobs in a certain occupational code are in demand when that code may include many different kinds of jobs, only some of which are on the rise. But there’s a challenge to specificity: job listings are composed in free-text, meaning the information is there but it’s not in a format that most computer systems are able to work with. As a result, the information reported by other job aggregators is extremely limited – typically only titles and locations, or occupational or industry codes. Beyond that, any information they report is most often inferred through static associations; if a job is coded as belonging to a certain occupational family, certain broad skill requirements are attributed to that occupational family based on historical sources.
To address this intelligence gap, Burning Glass leverages our unique data extraction and analysis technologies to mine and code detailed data from each job listing describing the specific skills, skill clusters, educational credentials, certifications, experience levels, and work activities required for that specific job, as well as information about salary, number of openings, and job type. We then enable users to access this data across multiple levels of aggregation – geography, time period, industry, occupation, or level of educational attainment, to name a few – either via our web-based analytical tool, Labor/Insight™, or by means of customized monthly, quarterly, or yearly reports.
Here are just a few of the ways that our real-time jobs data provides actionable intelligence to an array of users:
- For economic development professionals: What skill base is needed to support emerging industries? How do we find out-of-area employers to recruit? What jobs are our targeted employers hiring for and what training programs are needed to make our region’s workforce more competitive?
- For educators: How aligned are our existing programs and curriculum with the skills sought by local employers within relevant sectors? What local employers should we partner with in order to cultivate internships and placements? What skills and technologies are emerging and how do we train students for them?
- For workforce development professionals: What jobs are in greatest demand and what tactical investments can we make in skill development to help displaced workers place into them successfully? Which employers are hiring and how do we work with them to prepare displaced workers to fit their needs?
- For employers: What jobs are my competitors hiring for and what does that say about their growth plans? What skills do we need to train our workers in so that our company can remain competitive? How do we optimize infrastructure investments based upon likely availability of talent?
- For students and job seekers: What occupations are in greatest demand for individuals with my skills or educational credentials? What certifications should I consider if I am interested in a certain industry or occupation?
Conventional tools are not equipped to address these questions, but Burning Glass solutions, with their real-time awareness of the specific nature of each opportunity, provide all of these constituents the actionable intelligence they need to understand, manage, and succeed in a challenging and dynamic labor market.
Learn more about:
- Labor/Insight™, an advanced analytic application that provides access to real-time jobs data on a regional, statewide or national basis at an unparalleled, granular level of detail
- Detailed, real-time Competitive and Market Intelligence Reports on what’s happening in any industry, occupation, or region, and the specific requirements (skills, certifications, degrees, qualifications, experiences, etc.) in demand
- How Burning Glass supports the needs of labor market analysts, workforce and economic developers, educators, and private business
- Burning Glass’s advanced job spidering, parsing and extraction and coding and interpretation technologies