Real-Time Labor Market Information: An Environmental Scan of Vendors and Workforce Development Users

The goal of this report is to inform workforce development practitioners “about the common uses, successes, and challenges of RT LMI [real-time labor market information]” (p.1). “Traditional labor market information is based on data gathered through Federal and state surveys and administrative data. These surveys typically utilize rigorous sampling criteria and careful sampling frames. These data are screened for confidentiality and measured for error. The primary sources of traditional LMI are the U.S. Department of Labor’s Bureau of Labor Statistics, the Census Bureau, and various states’ Labor Departments.

Traditional LMI provides significant insight into labor market trends and indicators, but the process of gathering the data is time-consuming and results in unavoidable lag-time for publication. The surveys vary greatly in geographical detail, with many providing reliable national data but limited data for local areas.

In contrast, RT LMI — as the name implies — is available quickly and includes local area geographic details. Online postings are scraped from the Internet and are aggregated daily. From each job posting, RT LMI software searches for such information items such as the employer name, job title, salary, education requirements, certifications, skills, and other variables. Each variable can be aggregated for statistical data analysis. This can be a powerful data source for workforce professionals” (p.2).

(Abstractor: Author and Website Staff)

“Based on research conducted through this project, and previous research conducted by Jobs for the Future and others, there are several lessons learned that are of value to those using or considering using RT LMI. • RT LMI supplements more established forms of labor market information. • RT LMI makes analysis of employment demand easier. • RT LMI is influenced by the realities of online posting practices. • Someone with a strong background in LMI and data analysis needs to be on the team using this data for analysis. • Understand the strengths and intended uses of each vendor’s products when selecting a vendor of RT LMI. • Investigate the purchase as a collaborative effort with a consortium or with a network. • Speak to other states, local areas, and other entities to understand how they use RT LMI” (p.25-26). (Abstractor: Author)

• Last Updated:
• Created:
• Resource Publication Date: 2014
• Author(s): No individual authors listed
• Organizational Author(s): Maher & Maher; Jobs for the Future; NYC Labor Market Information Services
• Funding Source: U.S. Department of Labor, Employment and Training Administration
• Resource Availability: Publicly available
• Posted by: Justin Venneri
• Posted in: Workforce System Strategies