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Data for labor market concentration using Lightcast (formerly Burning Glass Technologies).

Hyeri Choi1, Ioana Marinescu2

  • 1School of Labor and Employment Relations, University of Illinois, Urbana-Champaign, 504 E. Armory Avenue, Champaign, IL 61820, United States.

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|August 8, 2024
PubMed
Summary

This dataset quantifies labor market concentration using the Herfindahl-Hirschman Index (HHI) from job vacancy data. It enables research into employer market power and its effects on labor and social outcomes.

Keywords:
Employer market powerHerfindahl-Hirschman IndexJob vacanciesLabor demandLabor market

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Area of Science:

  • Economics
  • Labor Economics
  • Data Science

Background:

  • Labor market concentration is a key determinant of employer market power.
  • Understanding employer market power is crucial for analyzing labor market dynamics and social outcomes.
  • Existing research on labor monopsony power necessitates comprehensive data on market concentration.

Purpose of the Study:

  • To introduce and describe a novel dataset on labor market concentration.
  • To provide researchers with granular data for investigating the impact of employer market power.
  • To facilitate studies on the relationship between labor market concentration and various outcomes.

Main Methods:

  • Utilized job vacancy data from Lightcast spanning 2007Q1 to 2021Q2.
  • Calculated the Herfindahl-Hirschman Index (HHI) to measure labor market concentration.
  • Defined labor markets by occupation (six-digit SOC), commuting zone, and quarter.

Main Results:

  • The dataset provides lower and higher bound HHI estimates for defined labor markets.
  • Data includes year-quarter, six-digit SOC, commuting zone, and HHI bounds.
  • The dataset covers the period from 2007Q1 to 2021Q2, excluding 2008 and 2009.

Conclusions:

  • This labor market concentration dataset offers valuable resources for economic research.
  • Researchers can leverage this data to explore the implications of employer market power.
  • The dataset supports diverse investigations into labor and social phenomena.