Shapiro says Twitter-based employment index provides real-time accuracy
"Tweet Analysis Paints More Accurate Employment Picture Than The US Government Release" - International Business Times. 8/25/2014.
Matthew Shapiro and colleagues have found a way to use Twitter data to create indices of U.S. employment (job loss, job search, job posting) -- indices that have performed well in comparison to survey-based economic indicators. In addition to their accuracy, Twitter data yield results faster and cheaper than comparable employment survey data. Shapiro says that, especially at "turning points or times of crisis, having something available instantaneously is critical for policymakers."
Additional Media Coverage:
"Researchers: Unemployment rate isn't accurate" - CBS News. 8/27/2014.
"Unemployment Rate Is Inaccurate, Higher Than Reported, Researchers Claim" - Headlines & Global News. 9/2/2014.