Analyze Labor Market Intelligence

Employees within an organization may want to explore other potential job titles and see how their skills match up.

Sample Scenario

A Human Resources Director is considering hiring options for several new positions. Her company has offices in several major metropolitan areas and a preference for hybrid work. If candidates are scarce near those offices the company considers hiring remote employees. The Human Resources Director needs data to understand where to focus search efforts for candidates to fill the new positions.

Solutions

The first step is to normalize each of the position titles using the Job Title Normalization API. With the normalized titles, the user can analyze the supply and demand of each one in states and cities where the company has offices. To do this, the user obtains the location ID of each state by calling the Location API and then use this ID and the normalized title to call the Labor Market Intelligence Stats API. The Stats API returns supply and demand for the state and a list of child IDs for each city, allowing for additional calls to the Stats API to retrieve position supply and demand for each city.

Position supply is the number of professional profiles matching the normalized job title in the selected geography. Demand is the number of jobs for that job title. This analysis allows the HR director to determine which areas have the greatest supply relative to demand.

It’s possible to further refine this analysis by calling the Labor Market Intelligence Salary API to retrieve the average salary for each position in desired geographical areas. Combining salary data with supply and demand, the HR Director may identify new geographical areas to focus recruiting on the best supply that matches her budget.