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Real-Time Signals on Job Opportunities

The availability of jobs is one of the most important signals of economic strength for any region. Traditionally, such data has been collected with a time lag and reported by federal and state agencies. However, the opportunity to derive real-time insights about labor markets using signals from online platforms such as LinkedIn and Indeed exists. These platforms are increasingly used by both job seekers and employers.

From LinkedIn, data was collected on the number of job openings related to the different job levels such as internship, entry-level, associate, mid-senior, director, and executive. Given the importance of the technology industry, data on information technology job postings were collected across MSAs from LinkedIn. Using the industry-wise job openings data from LinkedIn, the top three job providing industries in the Tampa Bay region were identified. Researchers then plotted trend lines for finance, retail and information technology job openings per million individuals.