Quantifying skill relevance to job titles

Abstract

Eliminating or reducing skill gaps in the job market is critical to putting people back to work, reducing the unemployment rate, and increasing the labor market participation rate. A key element in closing the skills gap is accurately identifying the mismatch between the skills expected by employers and those possessed by job seekers. In this study, our goal was to profile job titles by effectively quantifying the relevance of skills. We started by using a naive, frequency-based skill ranking approach, which resulted in the most generic skills ranked on the top. We then adapted a number of alternative metrics and compared their performances on a number of job titles. The outcome of this study can support CareerCoach, an analytical solution CareerBuilder has piloted to provide insights and data dashboards to job seekers.

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