A New York Fed study finds LinkedIn-derived indicators—including an
applicants-per-job index and a hiring rate—track conventional JOLTS vacancy and
labor-flow measures and in some cases outperform them. When applicants per
vacancy is low the labor market is typically considered tight, which may put
upward pressure on wages. Researchers say these LinkedIn indicators are notably
more timely than the JOLTS hiring rate and other traditional tightness measures.
