EMSI
- Mateusz Zajac (Deactivated)
This tool has been solely researched by WilsonHCG Innovation Team
Our economy is massive and fast-moving. So if you want to understand what’s going on, you need the whole picture. That’s why we pull our data from multiple sources: to give you the most complete, nuanced, up-to-date view of the labor market possible.
Traditional labor market information (LMI)
Source: Government sources (Bureau of Labor Statistics, US Census Bureau, etc.)
What it is: Industry, occupation, education, and demographics data.
What it can do: Traditional LMI is great for understanding the structure of an economy and getting a full picture of the major trends in jobs and wages.
Word to the wise: Traditional LMI lacks a certain level of detail and isn’t collected very often, so it is strongest when used in concert with job posting analytics and profile data (see below)
Job Posting Analytics (JPA)
Source: Online job postings
What it is: Data collected from hundreds of millions of job postings created by employers.
What it can do: JPA can help measure the demand for talent in a given region. It is more granular than traditional LMI, providing details about the labor market (e.g. specific skills requested by employers) that LMI simply can’t. Another of JPA’s strengths is that it has virtually no time lag, since job postings are live; hence it is also sometimes known as “real-time labor market data.”
Word to the wise: The number of postings may be either higher or lower than the number of actual hires. Postings might outnumber hires when a company is trying hard to find talent, or postings may be significantly fewer than hires because certain types of jobs (e.g., roofers, welders, and other blue-collar jobs) aren’t typically advertised online. When this happens, we deduplicate the postings as much as possible and then provide a realistic ratio of unique postings to hires.
Profile Data
Source: Online profiles and resumes
What it is: Public, self-reported information about individuals’ city/state/nation of residence, job history, education history, and skills.
What it can do: Emsi’s profile data can help you measure the supply of talent in a region.
Word to the wise: Profile data is a great complement to LMI because it includes unprecedented levels of detail impossible for LMI to provide.
Compensation Data
Source: Government sources + profile data
What it is: Wage estimations based on wage data (from government sources) plus self-reported wage data (from our profile data).
What it can do: Compensation data can help you estimate how much a position should be paid based on a worker’s actual experience and skills, rather than their mere job title.
Word to the wise: Compensation data contains estimations, not hard numbers; nevertheless these estimations are reliable due to our rigorous methodology which allows us to reduce the rampant sample bias in self-reported compensation.
Global Data
Source: Government and profile data sources around the world.
What it is: Industry, occupation, and profile data collected from various countries.
What it can do: Global data helps you compare markets across borders, determine where your company might expand, and understand the skills landscape.
Word to the wise: Countries use all kinds of different names and definitions when they report their talent supply, so we solve this disparity by using our own taxonomy that unifies the occupation categories between countries and helps everyone speak the same language.
Our data philosophy
Direction - Data is incredibly powerful in pointing you in the right direction to solve problems faster and better.
Vision - Data reveals hidden or ambiguous patterns and brings the big picture into focus.
Opportunity - Data opens amazing opportunities and helps you spot possibilities that others might be missing.
Accountability - Data helps you stay objective and realistic as you measure your plans against the real world.