We’ve written a number of articles in the past on the subject of Real Time LMI (including this one), which have made the following two points:
Firstly, that in comparison to more traditional LMI, Real Time LMI has a number of benefits, the most obvious being that it provides more up-to-date information and can therefore give a better idea of what is going on in the labour market right now.
Secondly, that it also has some huge limitations, the most major one being that by itself it cannot help us understand the structures and trends of the labour market, since it only provides a brief snapshot of what is happening at a given time.
Yet if the two approaches were carefully combined — robust, granular, structural LMI with up-to-date job postings information — what you would end up with is a dataset that could show not only the historical trends of the labour market, but also what is currently happening. In other words, a hugely powerful data tool and the best of both words.
We are pleased to announce that this is exactly what we will shortly be able to offer. At the beginning of June, we will be introducing Emsi Job Postings Analytics (JPA) as an add-on to the existing long-term granular data that we currently offer in our Analyst tool. Why are we doing this and how are we doing it? Here is a brief Q&A which should help explain.
Q. Why are we introducing JPA?
There are a number of reasons why we have decided to introduce JPA, but the fundamental reason boils down to the same reason for all that we do: we want to help people better understand their labour market.
Q. How will JPA achieve this?
JPA will not only add more granularity than our normal data can provide, but will also provide a more up-to-date view of the labour market, which is especially good news for clients who want to see more recent happenings than those shown in our ordinary dataset. In addition, Emsi JPA will help organisations that are looking for more specific skills information, and those who want to get a better picture of regional recruitment activity.
Q. What will Emsi JPA contain?
- Over 700,000 unique postings added each month
- Job titles which are mapped across to 4-digit SOC codes
- Identification of skills, companies hiring and job titles
Q. How can it help us?
Emsi JPA can help you identify answers to a number of key questions, including:
- What jobs are in demand in our region?
- Which companies are hiring in our area?
- What jobs are the big companies in the area looking for?
- Which skills are most in-demand in our region?
- What are the most relevant skills to a specific job title?
- Which companies are hiring for each specific job / skillset in our region?
- Which jobs share the same or similar skillset as each other?
- Which specialties within a SOC code are needed in my region (for example, what types of nurses or programmers are needed)?
Q. How will it be available?
JPA is an add-on to our Analyst tool, complementing and enhancing the existing data. For Analyst clients who decide to invest in JPA, the data will also available via an API, which gives users the ability to feed the data straight into packages such as Tableau.
Q. Why are Emsi not making JPA available as a standalone product or dataset?
Basically for the reason we mentioned at the start, which is that we really do believe that the real value of JPA is not on its own, but when it is combined with traditional long-term, granular LMI.
Q. What marks Emsi JPA out?
By being made available within our Analyst tool, users will now be able to get long-term LMI and JPA in one single integrated package. As far as we aware, this combination of structural data and current data is available nowhere else. In addition, because we have mapped JPA data to SOC codes, users who invest in JPA will have a system that offers them a seamless view of both the long-term trends and current happenings in the labour market in their area.
Q. When will it be available?
We hope to have JPA available from 5th June.
Keep an eye out on our blog for a number of teaser articles over the next few weeks, which will give a glimpse of Emsi JPA data. If you would like to find out more, email us at email@example.com.