Google econometrics and unemployment forecasting . /
Contributor(s): Zimmermann, Klaus FSeries: no.4201Publisher: Bonn, Germany Institute for the Study of Labor 2009Subject(s): Unemployment Research | Unemployment Statistics | Internet (computer Network) | Econometrics | Labour Market Statistics | Technology | Computers | Information Services | Statistical Analysis | Statistics | Employment/unemploymentDDC classification: INTERNET
INTO AND OUT OF WORK
The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword searches and unemployment rates using monthly German data and exhibits a strong potential for the method used.