Those following the U.S. jobs reports closely are experiencing whiplash after the March numbers were released last Friday. Following February’s positive report, March results showed the lowest rate of labor force participation (63.3%) since 1979 — turning optimism into depression. According to the March report, almost half a million people simply dropped out of the workforce. What’s happening? We decided to look at our job listings and identify skills that could represent opportunity for frustrated job seekers.
The Blackouts in India, Seen in oDesk Data
posted onA nationwide blackout in India recently left some 600 million people without electricity. Given that a large number of oDesk contractors are from India—it is the second-most active country by hours worked—oDesk Staff Economist John Horton set out to see if the effects of the blackout could be seen in our data. Here is his analysis.
Contractors Average 190% Earnings Growth in 3 Years: What’s Driving This Potential?
posted onOnline work provides a huge opportunity for people to grow their careers. After 36 months on oDesk, contractors earn an average of 190% more than they earned during their first month on the platform. The growth curve is dramatic: oDesk contractors increase their earnings by an average of 60% during the first year alone. In addition to tenure on oDesk, we looked at two significant factors that accelerate earnings growth for contractors on the platform: education and prior (non-oDesk) work experience.
Visualizations of the oDesk “oConomy”: Exploring Our World of Work
posted onHere at oDesk, one of our favorite pastimes is to run analyses using data from our database in order to provide a better understanding of oDesk’s online workplace and the way the world works. We wanted to try something more interactive this time, using one of the newer javascript-based visualization packages—and here’s what we came up with.
Welcome to the New Home of oDesk’s ‘oConomy’
posted onThe oConomy is a stream of new, data-based insights into the way the world is working. The data driving the oConomy is data we collect as part of running the world’s largest online workplace. Each day, we record jobs posted on Desk, applicants sent, hours worked, tests taken, etc., for all participants in our market. This level of detail gives us an unprecedented, amazingly rich view into the workings of a real labor market.