NY Fed Study Highlights New Measures of Labor Market Tightness
Dow Jones10-30 23:17
1117 ET - A new New York Fed study examines new measures of labor market tightness from social platform LinkedIn and finds some outperformed a traditional gauge using JOLTS data. The labor market is considered tight if there are few job seekers available relative to job openings, which could result in wage pressures. The researchers found that LinkedIn's Jobs per Jobseeker Index and the LinkedIn Hiring Rate measure track existing labor-market yardsticks well and offer results comparable to or better than existing measures. "Crucially, these measures are also timelier than the JOLTS hires rate and traditional measures of tightness," the researchers say.
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