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Nowcasting unemployment rates with Google searches : evidence from the Visegrad Group countries
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Pavlicek, Jaroslav and Kristoufek, Ladislav (2015) Nowcasting unemployment rates with Google searches : evidence from the Visegrad Group countries. PLoS One, 10 (5). pp. 1-11. e0127084. doi:10.1371/journal.pone.0127084
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Official URL: http://dx.doi.org/10.1371/journal.pone.0127084
Abstract
The online activity of Internet users has repeatedly been shown to provide a rich information set for various research fields. We focus on job-related searches on Google and their possible usefulness in the region of the Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. Even for rather small economies, the online searches of inhabitants can be successfully utilized for macroeconomic predictions. Specifically, we study unemployment rates and their interconnection with job-related searches. We show that Google searches enhance nowcasting models of unemployment rates for the Czech Republic and Hungary whereas for Poland and Slovakia, the results are mixed.
| Item Type: | Journal Article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||||
| Library of Congress Subject Headings (LCSH): | Internet searching -- East Europe, Job hunting -- East Europe, Unemployment -- East Europe | ||||||||
| Journal or Publication Title: | PLoS One | ||||||||
| Publisher: | Public Library of Science | ||||||||
| ISSN: | 1932-6203 | ||||||||
| Official Date: | 22 May 2015 | ||||||||
| Dates: |
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| Volume: | 10 | ||||||||
| Number: | 5 | ||||||||
| Number of Pages: | 11 | ||||||||
| Page Range: | pp. 1-11 | ||||||||
| Article Number: | e0127084 | ||||||||
| DOI: | 10.1371/journal.pone.0127084 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Open Access | ||||||||
| Funder: | Seventh Framework Programme (European Commission) (FP7), Czech Science Foundation (CSF), Research Councils UK (RCUK) | ||||||||
| Grant number: | FP7-SSH-612955 (FP7), P402/12/G097 (CSF), EP/K039830/1 (RCUK) |
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