BoE paper uses millions of job adverts to understand labour market
Researchers analysed 15 million adverts over eight years to categorise jobs
A new paper from the Bank of England categorises different sections of the labour market using big data techniques through a ‘bottom-up’ method of analysing online job vacancies.
In Using online job vacancies to understand the UK labour market from the bottom-up, the team of authors use machine learning to classify jobs into 20 different ‘clusters’. Similar words across job applications such as ‘teaching’, ‘software’, or ‘telesales’ were used to categorise the 15 million advertisements into
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