Skip to main content

Big Data for the Labor Market: Sources, Uses and Opportunities

Cover_221_PSU_Big Data for the Labor Market
Published Date December 2021
Type of Publication Reports
Publication Under APEC Secretariat, APEC Policy Support Unit
Accessed 795
Pages 76
Download publication Download

Description

Big data is the future of labor market information. Big data on the labor market can help augment traditional sources of data in providing real-time analyses, and could be especially useful in times of economic shocks. It allows for analyses such as calculating skill premia, understanding skill-adjacencies and creating career pathways, enabling reskilling and upskilling, and cataloguing emerging technology skills. This issues paper, which was made possible through a partnership with The Asia Foundation, conducts a mixed methods study of existing labor market data sources and compares them with big data available through digital platforms. It looks into integration of new data into labor market information systems, and assesses opportunities for bringing this data into public policymaking. This can open doors for policymakers to use big data to quickly respond to economic shocks (such as that caused by the COVID-19 pandemic), reskilling and upskilling workers, and matching job seekers with appropriate employers.