Nasdaq-100 Companies' Hiring Insights: A Topic-based Classification Approach to the Labor Market

TL;DR

This paper introduces a topic-based classification method using structural topic modeling on LinkedIn job postings from NASDAQ-100 companies to identify key labor market trends across various job categories.

Contribution

It applies structural topic modeling to online job vacancies to uncover dominant job categories and trends in the modern labor market, offering insights for stakeholders.

Findings

Marketing, Branding, and Sales are the most frequent job categories.

Software and Hardware Engineering are highly represented.

Key trends identified in the most posted job classifications.

Abstract

The emergence of new and disruptive technologies makes the economy and labor market more unstable. To overcome this kind of uncertainty and to make the labor market more comprehensible, we must employ labor market intelligence techniques, which are predominantly based on data analysis. Companies use job posting sites to advertise their job vacancies, known as online job vacancies (OJVs). LinkedIn is one of the most utilized websites for matching the supply and demand sides of the labor market; companies post their job vacancies on their job pages, and LinkedIn recommends these jobs to job seekers who are likely to be interested. However, with the vast number of online job vacancies, it becomes challenging to discern overarching trends in the labor market. In this paper, we propose a data mining-based approach for job classification in the modern online labor market. We employed structural topic modeling as our methodology and used the NASDAQ-100 indexed companies' online job vacancies on LinkedIn as the input data. We discover that among all 13 job categories, Marketing, Branding, and Sales; Software Engineering; Hardware Engineering; Industrial Engineering; and Project Management are the most frequently posted job classifications. This study aims to provide a clearer understanding of job market trends, enabling stakeholders to make informed decisions in a rapidly evolving employment landscape.