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X-ORIGINAL-URL:https://digital-economics.de/
X-WR-CALNAME:Digital Economics
X-WR-CALDESC:Scientific insights into economic and social impacts of the digital transformation
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UID:MEC-e94550c93cd70fe748e6982b3439ad3b@digital-economics.de
DTSTART:20220307T120000Z
DTEND:20220307T130000Z
DTSTAMP:20220303T215200Z
CREATED:20220303
LAST-MODIFIED:20220303
PRIORITY:5
TRANSP:OPAQUE
SUMMARY:Daniel Rock: Work2Vec: Measuring the Latent Structure of the Labor Market
DESCRIPTION:Job postings provide unique insights about the demand for skills, tasks, and occupations. Using the full text of data from millions of online job postings, we train and evaluate a natural language processing (NLP) model with over 100 million parameters to classify job postings’ occupation labels and salaries. To derive additional insights from the model, we develop a method of injecting deliberately constructed text snippets reflecting occupational content into postings. We apply this text injection technique to understand the returns to several information technology skills including machine learning itself. We further extract measurements of the topology of the labor market, building a “jobspace” using the relationships learned in the text structure. Our measurements of the jobspace imply expansion of the types of work available in the U.S. labor market from 2010 to 2019. We also demonstrate that this technique can be used to construct indices of occupational technology exposure with an application to remote work. Moreover, our analysis shows that data-driven hierarchical taxonomies can be constructed from job postings to augment existing occupational taxonomies like the SOC (Standard Occupational Classification) system.\n
URL:https://digitaleconomy.stanford.edu/event/daniel-rock-work2vec-measuring-the-latent-structure-of-the-labor-market/
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