Relative to these important studies, we link the estimates of workers’ valuation of employers to the attributes advertised in job openings and quantify the value of this information.5 We also contribute to the expanding body of work that aims at unpacking search frictions in the labor market. [...] This text con- tains a variety of information on the type of tasks associated with the position, the required skills and experience necessary to perform these tasks, and the pay and non-pay attributes of the job. [...] 5.2 Predicting the Value of Employers from Job Ads How predictive are publicly advertised job attributes of the employers’ actual pay and non- pay values? To assess the predictive power of the pay and non-pay content of job ads, we now estimate the following regression models, with the overall value of employers Vg(j) or one of its components (i.e., pay ψg(j) or non-pay ag(j)) as the outcome varia. [...] In total, solely based on the job attributes we are able to detect in ads (i.e., without including the controls in Xg(j)), we are able to explain about 60 percent of the variation in employer pay and their overall values, and about 50 percent of non-pay and 40 percent of the variation in job security. [...] 5.3 A Model-Based Measure of Ad Informativeness What is the information content of job ads in terms of pay and non-pay attributes offered by employers? We now use the link between the estimated value of employers and the information extracted from vacancy texts to provide a measure of ad informativeness based on the model introduced in Section 4.
Authors
Related Organizations
- Pages
- 89
- Published in
- United States of America
Table of Contents
- Introduction -1
- Data and Institutional Context -1
- Vacancy Data -1
- Matched Employer-Employee Data -1
- Sample Selection and Analysis Periods -1
- Job Postings and Recruitment -1
- Pay and Non-Pay Attributes in Vacancy Texts -1
- Extracting Advertised Job Attributes -1
- Validation -1
- The Prevalence of Advertised Job Attributes -1
- Estimating the Value of Employers -1
- Model -1
- Identification -1
- Estimation -1
- Results -1
- The Information Content of Job Ads -1
- What do Attractive Employers Offer in Job Ads? -1
- Predicting the Value of Employers from Job Ads -1
- A Model-Based Measure of Ad Informativeness -1
- Conclusion -1
- Additional Tables and Figures -1
- Additional Details on the Text Analysis -1
- Text Cleaning of Job Ads -1
- Extracting Common Attributes from ``We Offer'' Lists -1
- Description of Detailed Pay and Non-Pay Attributes -1
- Additional Details on the Model -1
- Predictive Power of Publicly Posted Job Attributes -1
