Toward Labor Market Policy 2.0 : The Potential for Using Online Job-Portal Big Data to Inform Labor Market Policies in India
Economists and other social scientists are increasingly using big data analytics to address longstanding economic questions and complement existing information sources. Big data produced by online platforms can yield a wealth of diverse, highly gra...
| Main Authors: | , , , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/370301486667802852/Toward-labor-market-policy-2-0-the-potential-for-using-online-job-portal-big-data-to-inform-labor-market-policies-in-India http://hdl.handle.net/10986/26133 |
| Summary: | Economists and other social scientists
are increasingly using big data analytics to address
longstanding economic questions and complement existing
information sources. Big data produced by online platforms
can yield a wealth of diverse, highly granular,
multidimensional information with a variety of potential
applications. This paper examines how online job-portal data
can be used as a basis for policy-relevant research in the
fields of labor economics and workforce skills development,
through an empirical analysis of information generated by
Babajob, an online Indian job portal. The analysis
highlights five key areas where online job-portal data can
contribute to the development of labor market policies and
analytical knowledge: (i) labor market monitoring and
analysis; (ii) assessing demand for workforce skills; (iii)
observing job-search behavior and improving skills matching;
(iv) predictive analysis of skills demand; and (v)
experimental studies. The unique nature of the data produced
by online job-search portals allows for the application of
diverse analytical methodologies, including descriptive data
analysis, time-series analysis, text analysis, predictive
analysis, and transactional data analysis. This paper is
intended to contribute to the academic literature and the
development of public policies. It contributes to the
literature on labor economics through application of big
data analytics to real-world data. The analysis also
provides a unique case study on labor market data analytics
in a developing-country context in South Asia. Finally, the
report examines the potential for using big data to improve
the design and implementation of labor market policies and
promote demand-driven skills development. |
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