NEW YORK, May 7, 2019 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), the world's leading index provider, today announced the launch of the S&P 500 LinkUp Jobs Indices. The new indices give market participants a simple data point: the weekly change in open jobs posted by S&P 500 companies and their subsidiaries. The index series also includes sector indices so investors can see which specific areas of the economy are adding jobs most quickly.
"Today's most commonly used US labor market data do a good job telling the story of recent job growth. But where the job market is heading is just as important to investors as where it has already been," said Reid Steadman, Managing Director at S&P Dow Jones Indices. "With the S&P 500 LinkUp Jobs Indices, we're giving market participants a forward-looking metric supported by high-quality data to help indicate future US job growth and better understand macroeconomic trends impacting the US market."
The new indices pair one of the most widely regarded barometers of large-cap U.S. equities – the S&P 500 – with the largest, highest-quality dataset of global job listings available from LinkUp, a data-driven job search company that tracks and aggregates job openings directly from more than 50,000 companies.
"By combining S&P Dow Jones Indices' index calculating capabilities with LinkUp's global leadership in delivering powerful real-time job market information, the S&P 500 LinkUp Jobs Indices will be important and insightful economic indices in the capital markets," said Toby Dayton, President and CEO of LinkUp. "It is an influential and multi-faceted tool that will be leveraged across a wide array of use cases."
The S&P 500 LinkUp Jobs Indices will be published weekly and are calculated using the sum of the weekly average job count from each S&P 500 company provided by LinkUp. LinkUp's data are extensively quality-checked both during the actual gathering of data from individual company job sites and on the entire database itself to confirm integrity and accuracy of the number of job openings.
At launch, historical data for the S&P 500 LinkUp Jobs Indices go back to January 23, 2012. Aside from the headline index based on the iconic S&P 500, the series will include indices in all of the market sectors:
- S&P 500 LinkUp Jobs Energy Index
- S&P 500 LinkUp Jobs Materials
- S&P 500 LinkUp Jobs Industrials
- S&P 500 LinkUp Jobs Consumer Discretionary Index
- S&P 500 LinkUp Jobs Consumer Staples Index
- S&P 500 LinkUp Jobs Health Care Index
- S&P 500 LinkUp Jobs Financials Index
- S&P 500 LinkUp Jobs Information Technology Index
- S&P 500 LinkUp Jobs Communications Services Index
- S&P 500 LinkUp Jobs Utilities Index
- S&P 500 LinkUp Jobs Real Estate Index
For more information and full methodology, visit www.spdji.com.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
LinkUp is a leading job search engine and provider of job market data and analytics. Through its proprietary technology, LinkUp indexes millions of job listings directly from employer websites daily. From that unique and predictive dataset of jobs, LinkUp provides insights into the global labor market and contributes to alpha generation at the macro, sector, geographic, and individuation company level. For more information, visit www.linkup.com/data.
SOURCE S&P Dow Jones Indices