Detailed labour market and economic data are often released infrequently and with considerable time lags between collection and release, making it difficult for policymakers to accurately assess current conditions. Nowcasting is an emerging technique in the field of economics that seeks to address this gap by 'predicting the present'. While nowcasting has primarily been used to derive timely estimates of economy-wide indicators such as GDP and unemployment, this article extends this literature to show how big data and machine-learning techniques can be utilised to produce nowcasting estimates at detailed disaggregated levels. A range of traditional and real-time data sources were used to produce, for the first time, a useful and timely indicator-or nowcast-of employment by region and occupation. The resulting Nowcast of Employment by Region and Occupation (NERO) will complement existing sources of labour market information and improve Australia's capacity to understand labour market trends in a more timely and detailed manner.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2025 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.