Jobs, jobs, jobs: what’s an analyst to do?

Abstract

Analysts and economists often face the task of using employment metrics to characterize industries of interest. Some key challenges can be understanding where to find employment metrics, the differences in various employment metrics, and when each metric should be used. This article analyzes a variety of publicly available employment data for the United States and compares these data. A detailed description of the intricacies of each data source is provided, which covers factors such as regionality, industry breakout, periodicity, and the types of jobs included. This article provides several case study examples, using the oil and gas extraction, coal mining, and chemical manufacturing sectors to portray challenges data users may face when developing employment estimates that suit their needs. Data users should be aware of a variety of data sources to understand alternative analysis options when data limitations are present and to determine which data source best meets their needs. Instances may occur in which information from one dataset may be used to help impute missing values.