The job market is undergoing incredibly rapid change—so rapid that it is outpacing the ability of traditional labor market information to keep up. New tools are required to understand changing job requirements in real time.
Some tried-and-true resources, such as O*NET and Standard Occupational Classification (SOC) systems, take time to analyze and update. For example, the current SOC taxonomy took eight years to update and it will take even longer for the federal government to collect jobs data based on the new definitions. So these sources miss out on new occupations and skills emerging in the labor market, such as data science, blockchain, or hybrid jobs. To address the shortcomings of these systems, Burning Glass developed its own occupational taxonomy based on real-time job posting analysis which includes Specialized Occupations, detailed roles which are far more granular than what is available in public sources. That precision is what educators need to design programs that are aligned with the labor market. And to manage talent, employers need to be able to analyze trends using job titles that correspond to their job postings.
Specialized Occupations provide much more granular, up-to-date information on the jobs being demanded in today’s labor market. For example, the 2018 SOC definitions now include Data Scientists—but the Burning Glass occupational taxonomy identified that fast-growing role in 2010, has a decade’s worth of data to analyze, and further distinguishes the Senior Data Scientist roles. Even in older positions that have long been part of O*NET, such as Financial Manager, Specialized Occupations are able to drill down into no less than seven real-world variations on that job title, covering a range of specific real-world roles.