use cases - linkuppages.linkup.com/rs/458-rjt-465/images/linkup_usecases... · 2019-07-30 · all...

USE CASES

USE CASESMACRO

SECTOR

COMPANY

GEOGRAPHY

ANALYTICS, INDICES, AND REPORTS

MACRO Paired Month DataCorporate Website Job Openings by State

NEW JOBS TOTAL JOBS % CHANGE QTY. CHANGE

State MAR APR MAR APR New Total New Total

AK 1,906 1,928 4,763 5,025 1% 6% 22 262

AL 11,616 11,426 31,725 32,263 -2% 2% -190 538

AR 7,633 7,472 18,152 18,455 -2% 2% -161 303

AZ 26,830 25,683 58,666 59,417 -4% 1% -1,147 751

CA 137,139 140,087 302,324 314,544 2% 4% 2,948 12,220

CO 23,512 24,024 55,270 57,749 2% 4% 512 2,479

CT 11,292 10,603 28,272 28,732 -6% 2% -689 460

DC 5,564 5,552 15,576 15,871 0% 2% -12 295

DE 3,880 3,324 8,988 8,800 -14% -2% -556 -188

FL 65,775 65,555 146,058 150,578 0% 3% -220 4,520

GA 36,919 37,929 88,946 92,857 3% 4% 1,010 3,911

HI 3,521 3,790 8,241 8,695 8% 6% 269 454

IA 9,776 9,369 22,805 23,263 -4% 2% -407 458

ID 4,114 4,411 9,080 9,425 7% 4% 297 345

IL 44,308 41,529 104,958 105,484 -6% 1% -2,779 526

IN 20,016 19,473 50,252 51,506 -3% 2% -543 1,254

KS 8,937 9,118 21,964 23,179 2% 6% 181 1,215

KY 11,922 12,036 30,714 31,686 1% 3% 114 972

LA 10,189 9,946 27,039 27,679 -2% 2% -243 640

MA 32,602 30,200 78,713 79,989 -7% 2% -2,402 1,276

MD 20,260 19,697 52,010 53,016 -3% 2% -563 1,006

ME 5,398 5,607 11,256 11,854 4% 5% 209 598

MI 28,196 28,310 62,735 64,551 0% 3% 114 1,816

MN 22,679 23,575 52,977 55,349 4% 4% 896 2,372

MO 23,816 22,430 56,578 56,939 -6% 1% -1,386 361

MS 5,945 6,186 15,784 16,434 4% 4% 241 650

MT 2,478 2,403 5,983 6,248 -3% 4% -75 265

NC 36,472 37,058 87,877 91,647 2% 4% 586 3,770

ND 2,483 2,580 6,247 6,532 4% 5% 97 285

NE 5,346 5,292 12,565 13,119 -1% 4% -54 554

NH 4,991 5,125 13,139 13,872 3% 6% 134 733

NJ 28,534 28,640 68,145 70,993 0% 4% 106 2,848

NM 5,315 5,269 15,105 15,258 -1% 1% -46 153

NV 12,176 11,148 25,679 25,100 -8% -2% -1,028 -579

NY 56,403 54,662 130,711 134,969 -3% 3% -1,741 4,258

OH 37,027 38,341 88,734 92,305 4% 4% 1,314 3,571

OK 10,434 10,323 25,695 26,223 -1% 2% -111 528

OR 15,308 15,236 34,444 35,286 0% 2% -72 842

PA 40,660 39,796 98,550 100,847 -2% 2% -864 2,297

RI 3,537 3,193 8,397 8,540 -10% 2% -344 143

SC 14,904 14,576 37,186 38,340 -2% 3% -328 1,154

SD 2,045 1,970 4,740 4,920 -4% 4% -75 180

TN 18,292 20,206 49,552 52,725 10% 6% 1,914 3,173

TX 98,501 101,704 221,989 233,156 3% 5% 3,203 11,167

UT 9,752 9,669 22,078 22,827 -1% 3% -83 749

VA 35,907 36,417 88,526 92,092 1% 4% 510 3,566

VT 1,217 1,460 3,404 3,674 20% 8% 243 270

WA 31,744 31,413 75,959 77,935 -1% 3% -331 1,976

WI 19,843 18,871 46,780 47,283 -5% 1% -972 503

WV 4,353 4,351 11,242 11,596 0% 3% -2 354

WY 1,203 1,322 3,545 3,787 10% 7% 119 242

TOTAL 1,082,670 1,080,285 2,550,118 2,632,614 0% 3% -2,385 82,496

< -25% -10% to -25% -1% to -9% 0% 1% to 9% 10% to 25% >25%Color key:

The LinkUp 10,000

Energy

S&P 500 LinkUp Jobs Index

Consumer Staples

Consumer Discretionary

Financials

Communication Services

Healthcare

Industrials

Materials

Information Technology

Real Estate

Utilities

4,500,000

4,000,000

3,500,000

3,000,000

2,500,000

Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Sep 17 Oct 17 Nov 17 Dec 17 Jan 18 Jan 19Feb 18 Feb 19Mar 18 Mar 19Apr 18 Apr 19May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18

220

200

180

160

140

120

100

80

S&

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inkU

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obs

Ind

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evel

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2016 2017 2018 2019

The S&P 500® LinkUp Jobs Indices

Top “Blockchain” Employers

Keywords within job postings can indicate

strategic direction, skillset and educational

demand, and more. LinkUp identified other

companies with job openings containing the

word “blockchain,” potentially indicating similar

future initiatives.

BLOCKCHAIN JOBS

USE CASE

Finance 26%

Professional Services 24%

Manufacturing 13%

Healthcare 11%

Information 7%

Education 3%

All other industries 16%

Industries With

“Blockchain” Jobs

Top “Blockchain” Job Titles

Blockchain Engineer

Blockchain Developer

Business Analyst Blockchain

Emerging Technology Advisor

Software Engineer

The job opening counts for companies

within Blackrock’s iShares North

American Tech Software ETF appear to

be a leading indicator for share price. A

bump in job openings for the six months

between March and September 2017

began slightly before a steady increase in

the daily adjusted closing price from April

2017 through February 2018.

JOB COUNTS WITHIN SOFTWARE ETF

USE CASE

Job Openings vs. Closing Price of iShares North American Tech-Software ETF

$200

$180

$160

$140

$120

$100

$80

$60

$40

$20

$0

Dai

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20,000

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16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

01/2017 02/2017 03/2017 04/2017 05/2017 06/2017 07/2017 08/2017 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018

ETF’s Daily Closing Price LinkUp Job Openings

New Job Listings

∆ From Prior Month

Total Job Listings

∆ From Prior Month

Change in 50/50

Blended Average

LINKUP JOBS DATAMonth

and

Year

NFP Initial Releases, 30-Day, and 60-Day RevisionsWith LinkUp Forecast & Bloomberg Consensus Estimates

Month-Over-Month Change in New & Total Jobs Using LinkUp Paired-Month Jobs Data

New Job Listings Δ From Prior Month Total Job Listings Δ From Prior Month

Jan Feb AprMar MayJan Feb AprMar May Jun Jul SepAug Oct Nov Dec

LINKUP NON-FARM PAYROLL FORECASTS

LinkUp NFP Forecasts

Correlation to NFP

Jan Feb AprMar May

Bloomberg Consensus ForecastLinkUp ForecastInitial Release 30-Day Revision 60-Day Revision

100,000

200,000

300,000

0%

10%

20%

-10%

SECTOR

The economy and a record-setting streak of

monthly job gains have continued to provide

positive news amidst otherwise grim headlines

of late. Despite the continued good news about

low unemployment and increased job openings,

not all sectors are on a hiring spree. LinkUp can

sort its job listings by sector and then compare

long-term growth vs. short-term momentum to

see which sectors are driving the job growth.

USE CASE

INDUSTRY LABOR TRENDS

20% 25% 30%15%10%0%-5% 5%

% C

hang

e in

Gro

wth

(Yea

r ov

er Y

ear)

% Change in Momentum (Trailing 3 months)

Professional Services Public

Administration

Manufacturing

Finance &Insurance

Education

Wholesale TradeTransportation

Information

Admin & Support Services

Retail

HealthcareAccommodation & Food Services

15%

10%

5%

0%

-5%

-10%

-15%

Jobs by NAICS YoY % Δ (growth) and trailing 3 months % Δ (momentum)

Total U.S.

We explored our construction-related job

listing data for the industry as a whole,

and also compared it to the Metropolitan

Statistical Areas (MSAs) projected to be

strongest by Oldcastle Building Solutions’

2017 Construction Forecast Report. We

found an impressive correlation between

our jobs data and their forecast.

USE CASE

CONSTRUCTION GROWTH BY TOP 20 MSAS

Oct 2017 Nov 2017 Dec 2017 Jan 2018 Feb 2018 Mar 2018

Top 4 MSAs = Oklahoma City, Hartford, Las Vegas, Houston Source: LinkUp

40%

20%

0%

60%

80%

100%

120%

140%

Year-Over-Year % Change In Job Openings Top 4 MSAs All Other MSAs

Top 4 MSAs: Oklahoma City, Hartford, Las Vegas, Houston

Year-Over-Year % Change in Job Openings

In an analysis of fast casual restaurants

LinkUp explored labor demand across the

industry’s largest employers. The industry

has increased job openings more than 200%

since 2012, seeing the biggest growth in

New York and the San Francisco Bay Area.

Team member is the top title followed by

crew and various manager titles.

FAST CASUAL RESTAURANTS

USE CASE

2012 2013 2014 2015 2016

50,000

100,000

150,000

200,000

250,000Job openingsLinear (Job openings)

Based on companies LinkUp monitors

Job Openings

Historical Job Growth

Job growth (% change)

2% 197%

Current

Job Titles

Team Member 20%

Crew 11%

Assistant Manager 10%

General Manager 9%

Shift Manager 8%

Shift Supervisor 7%

Delivery 5%

Barista 5%

Shift Lead 4%

All other titles 21%

Current job openings as of October 2016

Based on the companies LinkUp monitors, there are just over 160,000 positions currently

open at fast casual restaurants in the United States. The job titles of Team Member and

Crew Member account for just over 30% of all current job openings.

McDonald’s 25%

Starbucks 10%

Panera 9%

Domino’s Pizza 7%

Taco Bell 7%

Jack in the Box/Qdoba 5%

KFC 5%

Carl’s Jr./Hardee’s 3%

Marco’s Pizza 3%

Steak N Shake 2%

Checkers 2%

Sonic Drive-In 2%

Chipotle 2%

All other 17%


Current

Employers

LinkUp is able to capture job data from 75%

of the top 50 fast-food restaurant chains in

the U.S. Among these chains, McDonald’s,

Starbucks, Panera, Domino’s, and Taco Bell

all have over 10,000 jobs open now.

There are about 900 job openings for Java Application Developers in the U.S.

Orange County accounts for 20% of the population in the Los Angeles MSA

but 76% of the job openings for Java Application Developers.

JAVA JOBS

USE CASE

Total U.S.864 open jobs

California73 open jobs

Los Angeles MSA

17 open jobs

Orange County

13 open jobsJob listings for Java Application Developers

Within the Manufacturing sector,

Transportation Equipment and Printing &

Related Support Activities show both long

and short-term growth.

MANUFACTURING LABOR DEMAND

USE CASE

20% 25% 30% 35%15%10%0%-20% -15% -10% -5% 5%

% C

hang

e in

Gro

wth

(Yea

r ov

er Y

ear)


FoodManufacturing

ApparelManufacturing

Computer & ElectronicProduct Manufacturing

MachineryManufacturing

Fabricated Metal Product Manufacturing

MiscellaneousManufacturing

ChemicalManufacturing

Electrical EquipmentManufacturing

Printing & RelatedSupport Activities

Transportation Equipment Manufacturing

Leather & AlliedProduct Manufacturing

Plastics & RubberProducts Manufacturing

55%

45%

35%

25%

15%

5%

40%

30%

20%

10%

0%

50%

-5%

-10%

-15%

-20%


Total U.S. MFG

An analysis of NAICS codes for the jobs in LinkUp’s

database of job listings from 50,000 companies

reveals the areas driving the most growth for Retail.

The North American Industrial Classification System,

NAICS, is a taxonomy used to identify company

sectors. Within the Retail sector, Gas Stations and

General Merchandise Stores are driving long-term

growth. Building Materials & Garden Equipment

Stores as well as Furniture & Home Furnishings

Stores are experiencing short-term momentum.

RETAIL LABOR DEMAND

USE CASE

-15% -10% -5% 0% 5% 10% 15% 20% 25% 30% 35%

% C

hang

e in

Gro

wth

(Yea

r ov

er Y

ear)


Bldg Material &Garden Equip

GeneralMerchandise

Motor Vehicles& Parts

Misc Retailers

Gas Stations

Food &Beverage

Online Retailers

Clothing &Accessories

Furniture &Home Furnishings

Health &Personal Care

40%

50%

30%

20%

10%

0%

-10%

-40%

-20%

-30%

-50%


Electronics &Appliances

Total U.S. Retail

Sporting Goods& Hobby

USE CASE

Created

and D

eleted Jo

bs

250,000

200,000

150,000

100,000

50,000

600,000

500,000

400,000

300,000

100,000

200,000

Consumer Discretionary (GICS 25) Job Count by Month

Num

ber

of U

niq

ue A

ctiv

e Jo

bs

New JobsTotal Unique Jobs Removed Jobs

20192016 2017 2018

RETAIL INDUSTRY LABOR TRENDS

Uni

que

Act

ive

Job

s

Created

& D

eleted Job

s

2,5002,0001,5001,000500

3,5003,000

4,000

25,000

20,000

15,000

10,000

5,000

30,000

35,000

RETAIL SIGNALS

Uni

que

Act

ive

Job

s

Created

& D

eleted Job

s

Uni

que

Act

ive

Job

s

Created

& D

eleted Job

s

80

60

50

40

20

800

600

200

400

1,000

4,000

2,000

6,000

5,000

3,000

1,000

2,5002,0001,5001,000500

3,5003,000

4,000

1,000

500

2,000

1,500

2,500

2015 2016 2018 20192017

Jun 2018 Jul 2018 Sep 2018 Nov 2018 Jan 2019 Mar 2019 May 2019Aug 2018 Oct 2018 Dec 2018 Feb 2019 Apr 2019

Jun 2018 Jul 2018 Sep 2018 Nov 2018 Jan 2019 Mar 2019 May 2019Aug 2018 Oct 2018 Dec 2018 Feb 2019 Apr 2019

Layoffs

WSJ Reported Cash Crunch,Followed by Bankruptcy Filing

Exits Bankruptcy

Buyouts Announced

Layoffs Announced

Total Unique Jobs New Jobs Removed Jobs

Business media have referred to 2016 and 2017 as a “retail

apocalypse,” as more brick-and-mortar stores give way to

e-commerce and big box stores. We took a look at job market

data surrounding some notable filings to find correlations

between retailer bankruptcies and their hiring data, both before

and after filing.

Overall, job listings appear to drop off prior to a bankruptcy filing

for companies in true dire straights. However, the data supports

Toys ‘R’ Us’ claim of no plans to close stores following their

bankruptcy, leading us to believe they’re using this measure as

a tool to restructure and rebound.

RETAIL BANKRUPTCIES

USE CASE

250

200

150

100

50

0

April 2016 May 2016

3,000

2,500

2,000

1,500

1,000

500

0

December 2016 March 2017January 2017 February 2017 April 2017

1,200

1,000

800

600

400

200

0

December 2016 March 2017January 2017 February 2017 April 2017

7,600

7,200

7,400

7,000

6,800

August 2017 September 2017

Is store retail really dying? Despite a slew of bankruptcy headlines

in retail over the last few years, a study from Deloitte1 says retail

overall is growing, despite the plague among outdated stores. Of the

companies that have either declared bankruptcy or downsized, most

are longstanding institutions that have failed to innovate, and they fall

within the “balanced” pricing category. On either end of the spectrum,

however, high-end, premier retailers and discount price-based

retailers are faring well. Our job market data correlates with Deloitte’s

Retail Bifurcation thesis.

RETAIL BIFURCATION

USE CASE

1https://www2.deloitte.com/content/dam/insights/us/articles/4365_The-great-retail-bifurcation/DI_The-great-retail-bifurcation.pdf

Job Openings by Retailer Group (April 2017 - March 2019)

20,000 5,000

15,000

13,000

11,000

10,000

9,000

7,000

6,000

8,000

12,000

14,000

Job

Ope

ning

s at

Dis

coun

t Ret

aile

rs

Job

Ope

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s at

Pre

miu

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etai

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& B

ankr

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etai

lers

45,000

40,000

35,000

30,000

25,000

Discount Stores Premium Stores Bankrupt Stores

Apr 2017 Jul 2017 Oct 2017 Jan 2018 Apr 2018 Jul 2018 Oct 2018 Jan 2019 Mar 2019

Year-Over-Year Job Openings % Change

≥ +10%

+1% to +9%

0%

-9% to -1%

≤ -10%

Time Periods: April 2017-March 2018 vs. April 2018-March 2019

SENIOR HOUSING

USE CASE

Over the next two decades, the number of citizens over age 80 will double. Their

increased life expectancy will drive demand in healthcare. In preparation for this

surge in demand, senior housing and related facilities are popping up everywhere,

and with each facility comes new jobs.

Share of Job Openings in Senior Housing Sub-Sectors

U.S. Job Openings in the Nursing and Residential Care Facilities Sector

Note: Monthly job count based on same set of companies each month.

100,000

90,000

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

2017 2018 2019

Nursing Care Facilities 90%

% Change in Senior Housing Job Openings in Top 100 MSAs (Q1 2018 vs. Q1 2019)

Note: Larger circle size indicates more job openings.

> +50%

+21% to +50%

+1% to +20%

-20% to -1%

-50% to -21%

> -50%

Continuing Care Retirement Communities 7%

Assisted Living Facilities for the Elderly 3%

INFORMATION SECTOR

USE CASE

The Information sector contains

some of the hottest businesses

such as Facebook, Twitter, Disney,

and the government contractor,

Perspecta, Inc. The Information

sector consists of six sub-sectors

with Telecommunications, Publishing,

and Broadcasting accounting for

80% of all job openings.

Information Sector Job

Openings by Sub-Sector

Telecommunications: 31%

Publishing industries: 30%

Broadcasting: 19%

Data processing, hosting, related services: 8%

Motion picture, sound recording industries: 6%

Internet and other information services: 6%

Source: LinkUp

-10%

% C

HA

NG

E IN

GR

OW

TH (Y

EA

R O

VE

R Y

EA

R)

Source: LinkUp

-25%

-15%

-5%

5%

15%

25%

35%

45%

55%

65%

75%

-5% 0% 5% 10% 15% 20% 25%

Publishing industries

Broadcasting

Telecommunications

Data processing, hosting, related services

Internet and other information services

Information Sector Average

Motion picture and sound recording industries

% CHANGE IN MOMENTUM (TRAILING 3 MONTHS)

Growth and Momentum of Information Sector Jobs

Information Sub-Sector

# of Companies with ≥ 5 Job Openings

Top Company by Job Openings

Top Company’s Share of Openings

Telecommunications 88 27%

Publishing industries 175 13%

Broadcasting 48 20%

Data processing, hosting, related services 59 24%

Motion picture, sound recording industries 20 32%

Internet and other information services 43 45%

Top Hiring Companies in Information Sector

Source: LinkUp

Job Duration of Information Sector Jobs

Information Sub-Sector

August 2018

Δ in Days ( vs Aug 2017)

Internet and other information services 63 11

Motion picture, sound recording industries 61 -12

Publishing industries 54 -2

Information Sector Average 48 -1

Telecommunications 44 7

Broadcasting 39 -1

Data processing, hosting, related services 38 -9

Source: LinkUp

In a analysis of Health Care listings, we found there

were just over 492,000 openings in the Health Care

and Social Assistance Sector in the U.S in September,

2018. This was down over 80,000 job openings from

the previous September, and down from a five year

high of 610,000 in July 2016.

HEALTH CARE JOBS TRENDING DOWN

USE CASE

0

100,000

200,000

300,000

400,000

500,000

Job Openings in the Health Care & Social Assistance Sector (January 2014 - September 2018)

Nursing and Residential CareAmbulatory Health Care ServicesHealth Care & Social Assistance Hospitals Social Assistance

2014 2015 2016 2017 2018

Source: LinkUp

COMPANY

Amazon’s job openings in the

Washington, DC area are trending

similar to all of Amazon’s US job

openings. This trend is expected to

continue even after Amazon opens

HQ2 in Arlington, VA. “Amazon’s ramp

up will be slow, with hundreds of

workers in leased space this year and

no more than 3,000 added in any given

year”, said Christian Dorsey, chairman

of the Arlington County Board.

AMAZON JOBS DATA

1,400

1,200

1,000

800

600

400

200

-

Mon

thly

Job

Gro

wth

MS

A

25,000

20,000

15,000

10,000

5,000

-

Amazon Job Openings in United States and Washington, DC

Total US Washington, DC MSA

Jan 2018 Feb 2018 Mar 2018 Apr 2018 May 2018 Jun 2018 Jul 2018 Aug 2018 Sep 2018 Oct 2018 Nov 2018 Dec 2018 Jan 2019 Feb 2019

USE CASE

AMAZON JOBS DATA

AMAZON'S TOP JOB OPENINGS Avg Monthly Job Openings (YTD 2019)

1. Software Developers, Applications 270

2. Network and Computer Systems Administrators 111

3. Computer Systems Engineers/Architects 105

4. Information Technology Project Managers 78

5. Marketing Managers 66

6. Computer and Information Systems Managers 51

7. Information Security Analysts 46

8. Software Developers, Systems Software 42

9. Computer User Support Specialists 33

10. Sales Representatives, Services, All Other 30

Non-Store Retailer Job Openings in NYC

Amazon: 90%

J Crew: 4%

All Other Non-Store Retailers: 3%

Vitamin Shoppe: 2%

L.L. Bean: 1%

USE CASE

AMAZON GROWTH

USE CASE

Software Developers & Programmers 30%

All Other Computer 18%

Marketing & Sales Managers 11%

All Other Management 9%

Business & Financial Operations 9%

All Other Occupations 15%

Amazon Jobs by

Occupation

Based on average job openings (SOC/O*Net occupations) for Q1 2019.

-99% to -50%

-49% to -10%

-9% to +9%

+10% to +49%

+50% to +99%

≥ +100%Mapped by zip code. Color and Size of circle are based on % change (Q1 2019 vs. Q4 2018) grouped into ranges. See Legend file for the ranges.

Change in Amazon Job Openings

Rolling up brands, subsidiaries, and career portals to a single ticker.

BRANDS & SUBSIDIARIES

USE CASE

Booking.com

778Agoda

362

Kayak

83OpenTable

82

Priceline

60

Rentalcars.com

114

eBay

782

Rue La La

87Zeta Inter.

41

GSI Interactive

2

Radial Comm.

58

In January 2019, Charlotte Russe announced

the closure of 94 stores in bankruptcy. Prior

to this announcement LinkUp’s job listing

data for Charlotte Russe showed a steep

drop in numbers starting in December 2018.

CHARLOTTE RUSSE

USE CASE

3,000

2,500

2,000

1,500

1,000

Charlotte Russe Job Openings

Jan 2016 Jan 2017 Jan 2018 Jan 2019

Tracking total active online job listings

on Chipotle’s U.S. websites has been a

valuable indicator of inflections in same-

store sales (SSS) growth in the past.

This chart plots the 3- and 12-month

moving averages of job listing data

along with quarterly SSS. A sharp

decline in job listings in mid 2015 was

followed by a slowdown in SSS.

CHIPOTLE

USE CASE

0 -40%

0 -20%

00%

20%

60%

40%

80%

120%

100%

2,000

2,000

4,000

Glo

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YO

Y

US

Job

Lis

tings

Inde

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OY

%

6,000

8,000

Hiring and Same-Store-Sales

3MMA US Job Listings YoY 12MMA US Job Listings YoY

12/2013 12/2014 12/2015 12/2016 08/2017

Reported/Consensus Same-Store-Sales YoY

EXXONMOBIL

USE CASE950

850

750

650

550

450

350

120

150

50

2016 2017 2018 2019

Largest Growing Occupation: Architecture and Engineering

ExxonMobil Occupations

Arts, Design, Entertainment, Sports, and Media

Education, Training, and Library

Business and Financial Operations

Legal

Construction and Extraction

Architecture and Engineering

Farming, Fishing, and Forestry

Computer and Mathematical

Community and Social Service

Installation, Maintenance, and Repair

Food Preparation and Serving Related

Building and Grounds Cleaning and Maintenance

Healthcare Support

Military Specifi c

Healthcare Practitioners and Technical

Transportation and Material Moving

Production

Life, Physical, and Social Science

Offi ce and Administrative Support

Sales and Related

Protective Service

Personal Care and Service

Management

Other

Energy

S&P 500 LinkUp Jobs Index

Consumer Staples

Consumer Discretionary

Financials

Communication Services

Healthcare

Industrials

MaterialsInformation Technology

Real EstateUtilities

ExxonMobil

2016 2017 2018 2019

800240

220

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100

80

060

700

600

500

400

300

200

100

S&P 500 LinkUp Jobs Energy Index

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S&P 500® LinkUp Jobs Index & GICS Sector Indices

In a challenging environment, these four

companies have maintained tremendous

growth rates (29% in Q2) and have seen

their share prices rise an average of 30%

in 2017. In addition to traditional investor

research, LinkUp’s job market data provides

a wealth of information and insight into where

and how these companies are growing.

And because job openings are a leading

indicator of future hires, LinkUp’s data can

provide strong signals for strategic direction,

expansion plans, and future revenue growth.

FANG STOCKS

USE CASE

Job Locations (excluding Amazon)

Location of Amazon Jobs

0%

20%

40%

60%

80%

100%

-50% -30% -10% 10% 30% 50%

YoY % Δ (Growth) and MoM % Δ (Momentum)

GR

OW

TH

MOMENTUM

Circle size indicates relative number of

job openings

0

GR

OW

TH

FANG Job Openings

Accelerating growth in active job listings

correctly predicted improving momentum

for HubSpot. We viewed this positively for

revenue growth in coming quarters. On

November 3rd 2017, HubSpot reported

better-than-expected Q3 results with

revenue growing by 38% which was driven

by 40% subscription revenue growth.

Full year guidance also beat consensus

expectations ($370M to $371M vs

consensus of $367.94M).

HUBSPOT

USE CASE

-40% 0%

-20% 10%

70%

60%

50%

40%

20%

20%

Inde

x M

onth

ly Y

oY

Qua

rter

ly R

even

ue Y

oY

100%

80%

60%

40%

20%

0%

HubSpot Job Listings Index 3MMA12MMA

12/2013 12/2014 12/2015 12/2016 09/2017

Quarterly Revenue

LinkUp’s job listings numbers for Lululemon,

combined with Eagle Alpha’s Search Signals

indicator, point to weakening growth for the

fitness clothing line.

Growth in U.S. active job listings has trended

downward since early 2016, alongside

slowing revenue growth. In 2014–15, job

listing data stabilized, which correlated with

stabilized revenue growth during that period.

The gap between 3MMA and 6MMA has

widened in recent months, indicating a

quickening pace of this downward trend.

LULULEMON

USE CASE

0% -0.4

5%

10%

-0.2

0

0.8

0.6

0.4

0.2

Glo

bal R

even

ues

YoY

US

Job

Lis

tings

Inde

x Yo

Y %

35%

30%

25%

20%

15%

Hiring and Global Revenue

US Job Listings 6MMA IndexUS Job Listings 3MMA Index

06/2013 06/2014 06/2015 06/2016 12/2017

Global Revenues YoY

LinkUp deploys a variety of techniques to

accurately roll up job openings to a ticker or parent

company. In this example, Match Group, Inc.

(Nasdaq: MTCH) has job openings for its many

dating apps on its corporate career page as well

as the affiliate sites. LinkUp tracks job openings

for as many available subsidiaries as possible and

includes fields for easy mapping to provide an

accurate picture of Match Group’s true job activity.

MATCH GROUP (MTCH)

USE CASETinder

32

Hinge

6

Pairs

17Plenty Of Fish

14Meetic

21

OkCupid

4 Tutor.com

2

Match Group

45

Additional Match Group subsidiaries such as howaboutwe, chemistry.com, DataHookup.com, and OurTime.com either do not list job openings on their websites or their job openings are listed on match.com

Microsoft removed jobs in the first part of 2016 at an

average of 28 per day from January through August.

On 4 particular days (1) in early 2016, however, Microsoft

removed a total of 1,570 jobs, or an average of 393 on

each of those 4 days. Roughly 4 months later (2), on

July 28th, the company announced that it was laying off

2,850 of its employees. While difficult to know for certain,

it is reasonable to assume that the high volume of

deleted jobs concentrated over just 4 days was the result

of an internal corporate action that was later made public

in the form of a layoff announcement on July 28.

MICROSOFT LAYOFFS

USE CASE

0 0

500

400

300

200

100

Dai

ly A

ctiv

e

Dai

ly N

ew &

Del

eted

2,500

2,000

1,500

1,000

500

01/2016 06/2016 01/2017 07/2017

Daily ActiveDaily DeletedDaily New

Daily Active, New, and Created Job Openings at Microsoft

Total unique job listing posted on Palo Alto

Networks (PANW) website tracks closely to

quarterly company revenue growth over the

last several years. From FYQ1 2015 through to

FYQ4 2017 YoY growth in quarterly listings has

an 87% correlation to quarterly revenue growth

rates. After being in a downtrend over 2016,

total listings growth is slowly recovering so far

in 2017. This positive trend is reinforced by

newly created job listings returning to positive

growth in the just completed July quarter.

PALO ALTO NETWORKS

USE CASE

PANW: Job Listings Growth Inflecting Upwards

Rev

enue

Gro

wth

YoY

%

List

ings

Gro

wth

YoY

%

250%70%

200%60%

150%50%

50%30%

-50%10%

-100%0%

100%40%

Q1 ‘15 Q1 ‘16 Q1 ‘17Q2 ‘15 Q2 ‘16 Q2 ‘17Q3 ‘15 Q3 ‘16 Q3 ‘17Q4 ‘15 Q4 ‘16 Q4 ‘17

0%20%

Total Unique ListingsRevenue GrowthCreated Listings

On December 16th 2016 (1), Pandora

removed 17 job openings from its corporate

website. Between January 1, 2016 and

January 29, 2017, the average daily deleted

jobs was 1.85. Roughly a month later (2),

the company announced that it was laying

off 155 employees or 7% of its workforce of

2,219 people.

PANDORA LAYOFFS

USE CASE

25

20

15

5

10

0

Dai

ly A

ctiv

e

Dai

ly N

ew &

Del

eted

160

120

140

100

40

20

60

80

0

01/2016 03/2016 04/2016 05/2016 06/2016 07/2016 08/2016 09/2016 10/2016 11/2016 12/2016 01/2017

Daily ActiveDaily DeletedDaily New

Daily Active, New, and Created Job Openings at Pandora

PFIZER

USE CASE

600

500

400

300

200

100

Pharmaceutical Monthly Job Openings

Eli Lilly and Company

Merck & Co., Inc.

Pfi zer

Allergan, Inc.

Mylan Laboratories Inc.

Bristol Myers Squibb

Zoetis

Nektar Therapeutics

Johnson & Johnson

Perrigo Company Corporate

170

160

140

150

130

110

120

100

S&P 500® LinkUp Jobs Index, Healthcare Sector, and Pfi zer

S&P 500 LinkUp Jobs Index Pfi zer Healthcare

Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19

300

250

200

150

100

50

Pfi zer Daily Job Openings Activity Created job openingsPfi zer’s total job openings Removed job openings

3,000350

2,500

2,000

1,500

1,000

500



Job listings data for Tableau point to possible revenue

growth acceleration in the coming quarters. From Q2

‘14 to Q2 ‘17, growth in quarterly job listings has an

82% correlation to quarterly revenue growth rates.

Total job listings have accelerated steadily in 2017, a

positive indicator of growth. Listings data bottomed

out in late 2016, and the 3MMA crossed over 12MMA

in Q1 ‘17. The company beat consensus estimates

and raised guidance in Q4’16. Job listing growth

indicates a bullish outlook for Tableau through 2017

and into 2018.

TABLEAU

USE CASE

Hiring and Revenue

100%

80%

90%

50%

30%

10%

70%

60%

40%

20%

0%In

dex

Mon

thly

YoY

Qua

rter

ly R

even

ue Y

oY

200%

150%

50%

0%

-50%

100%

-100%

12/2013 03/2014 06/2014 09/2014 12/2014 03/2015 06/2015 09/2015 12/2015 03/2016 06/2016 09/2016 12/2016 03/2017 06/2017 09/2017

Quarterly Revenue T3M Job Index T12M Job Index

From January 2017 to May 2018, Tesla had an average

of 2,443 job openings on its website each day. In

that period, the car company added an average of 28

new job openings to its site each day and removed

an average of 26 job openings, and it took Tesla an

average of 78 days to fill its job openings. On 6/7/18

(Thursday), Tesla removed 420 job openings from its

site and on 6/9/18 (Saturday), the company removed

another 323 job openings from its site. On 6/12/18

(Tuesday), Elon Musk announced that Tesla was

laying off over 3,000 employees or roughly 9% of its

workforce, the company’s largest layoff in its history.

TESLA

USE CASE

7003,500

6003,000

5002,500

4002,000

3001,500

2001,000

100500

00

01/2017 06/2017 01/2018 06/2018

Daily New Job Openings Daily Removed Job Openings Daily Active Job Openings

Daily Job Openings Activity on Tesla’s Website Foreshadows Largest Layoff in Company History

WAYFAIR

USE CASE Job Openings by Occupation vs. Quarterly Revenue($M) for Wayfair (June 2014 - December 2018)

1,000

900

700

600

400

300

100

0

500

200

800

$2,100

$1,800

$1,500

$1,200

$900

$600

$300

$0

Mon

thly

Job

Ope

ning

s

Jun 2014 Jun 2015 Jun 2016 Jun 2017 Jun 2018Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018

Supervisors of Offi ce & Admin Workers

Mathematical Science Occupations

Computer Occupations

Information & Record Clerks

Operations Specialties Managers

Business Operations Specialists

Top Executives

Adv, Marketing, Promo, PR, & Sales Managers

Quarterly Revenue

Data from the S&P 500 LinkUp Jobs

Index is available down to the ticker-

level where company-specific insights

provide investors important indicators

of company health and strategy.

Just two months prior to announcing

layoffs in November 2018, GM’s job

listings began to decline sharply.

Large changes in job openings are a

valuable insight to investors on the

lookout for strategic signals from the

companies in which they invest.

GENERAL MOTORS JOB OPENINGS VS. STOCK PRICE

USE CASE

1,000

1,200

800

800

400

200

November 26, 2018General Motors announces it will layoff more than 14,000 employees in North America.

Gen

eral

Mot

ors

Dai

ly J

ob O

peni

ngs

Gen

eral

Mot

ors

Dai

ly C

lose

Sto

ck P

rice

1,600 $50

1,400 $48

$44

$38

$42

$40

$36

$34

$32

0 $30

General Motors vs. Stock Price (April 2018 - April 2019)

GM Job Opening in LinkUp Database GM Stock Price

Apr 2018 May 2018 June 2018 July 2018 Aug 2018 Sept 2018 Oct 2018 Nov 2018 Dec 2018 Jan 2019 Feb 2019 Mar 2019 April 2019

Source: LinkUp

$46

GEOGRAPHY

Silicon Valley isn’t the only hub for tech

jobs. We took a look at technology sector

job growth and decline at the zip code level

to identify which locations were strongest

and which were weakest. Specifically, we

measured positive or negative percentage

change, year over year. Of note, results

do not include the Silicon Valley area, or

jobs for Amazon or IBM, to provide a more

granular picture.

BEST & WORST CITIES FOR TECH JOBS

USE CASEBest and Worst Cities for Tech Jobs

Note: Size of circle indicates number of job openings. The larger the circle, the higher the number of tech job openings. Data as of May 2018.

Best Cities

Worst Cities

LinkUp has job listing data for

50,000 companies from around

the world, including all 50 states.

We track the number of jobs in

each state and compare monthly

to determine the trajectory of the

job market in each.

JOB MARKET DATA BY STATE

USE CASE

Based on average monthly job openings in 2018

Jobs with a state

99.8%

Jobs with a city

99.7%

Jobs with a zip code

90.6%

Number of unique active jobs (by range)

> 200,000

100,000 – 199,999

25,000 – 99,999

< 25,000

Unique Jobs By State

3.5-4 MILLIONunique job listings each month

Based on average monthly job openings in 2018

Numbactive

> 20

100

25,0

< 25

Market Reports provides accurate, predictive, and current data

by market at the macro, geographic, company, industry, and

job category levels. With Market Reports, real estate users can

build custom reports with current and historical job listing data

down to the zip code. This analysis leverages Market Reports

for the greater Boston area.

BOSTON MSA

USE CASE

Job Duration Among Boston Healthcare Companies

Top Companies by Unique Active Jobs

Job duration measures the amount of time (in days) that a listing is posted before it is removed, presumably because it has been filled. Total Boston = 49 days.

Company Number of days

Brigham and Women’s Hospital 41 days

Steward Health Care 58 days

Lahey Clinic 72 days

Boston MSA Unique Active Job Count Over 12 Months

44000

46000

48000

42000

50000

52000

54000

Aug 17 Sep 17 Oct 17 Nov 17 Dec 17 Jan 18 Feb 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18

BOSTON MSA

USE CASE

Number of Jobs by Zip Code

Job Count by SuburbCity 6-Month Change

Lowell - 39.48%

Peabody - 17.38%

Lawrence - 12.84%

Newton - 11.90%

Pawtucket - 8.45%

Chelsea - 6.61%

Brockton - 6.47%

Malden - 1.85%

Plymouth 1.61%

Franklin 3.41%

Revere 104.51%

Haverhill 43.64%

Nashua 36.85%

Weymouth 35.55%

Bridgewater 29.00%

Number of Records

31 8,049

Wholesale Trade1,642

Transportation1,316

RealEstate

Prof, Scientifi c, & Tech Svcs3,983

ArtsMgmt

Finance Insurance2,839

Retail8,049

Healthcare8,013

Public Admin1,030

Education2,469

Accomodation & Food Svcs3,709

Manufacturing4,913

Information2,423

Admin, Support,Waste Mgmt, &Remed. Svcs

2, 157

Job Count by NAICS Code

The job posting contains the location for the position A look at all jobs containing “full stack” tells a much bigger story

Companies with Full Stack Engineer Job Openings

Visa

All Other Companies

ONE JOB LISTING

USE CASE

LinkUp captures and stores more information about every job listing than meets the eye. A single job posting for

a Full Stack Engineer for Visa can reveal insights at the geographic, sector, job category, and macro levels.

Market Reports tracks job openings down

to the zip code. All job openings in Orange

County, California are mapped by zip code.

The heaviest areas for health care job

openings include Mission Viejo, Fountain

Valley, and Greater Anaheim, which correlate

with areas of heaviest demand for all jobs.

ORANGE COUNTY

USE CASE

100 – 499 jobs

> 50 jobs

< 25 jobs

25 – 99 jobs

Job count range:

Number of job openings by zip code

25 – 99 jobs

100 – 499 jobs

Health care job count range:

< 25 jobs

Number of health care jobs by zip code

ORANGE COUNTYJOBS BY

INDUSTRY

11%

7%

7%

4%

4%

17%

16%

13%

21%

Retail Trade 21%

Health Care and Social Assistance 16%

Accommodation and Food Services 13%

Manufacturing 11%

Professional, Scientific, and Tech Services 7%

Finance and Insurance 7%

Educational Services 4%

Wholesale Trade 4%

All other industries 17%

ANALYTICS, INDICES, AND REPORTS

Job listings can deliver a vast array of

corporate intelligence pertaining to strategic

direction, product development, geographic

expansion, growth rates, and profitability.

CORPORATE INTELLIGENCE

USE CASE

LinkUp’s internal correlation analysis

of monthly job count data compared

with BLS non-farm payroll counts

since 2014 revealed an R^2 of .95.*

CORRELATIONS TO BLS

240

220

200

180

160

140

120

100

152,000,000

150,000,000

148,000,000

146,000,000

142,000,000

140,000,000

136,000,000

134,000,000

138,000,000

144,000,000

LinkUp Index Correlated with BLS NFP Total Jobs

09-14 01-1511-14 03-15 05-15 07-15 09-15 11-15 01-16 03-16 05-16 09-1607-16 01-1711-16 05-1703-17 07-17 09-17 11-17 01-18 03-18 05-18 07-18 09-18 11-18 01-19

USE CASE

LinkUp Index to NFP NFP Total Jobs

CORRELATION TO S&P 500® PRICE INDEX

The S&P 500 LinkUp Jobs Index is well

correlated to and predictive of the S&P 500

price index. Stock prices reliably rise and

fall on the heels of changes in job listings.

When job counts go up, index value goes

up, and conversely, when jobs go down

typically the index value does as well.

The correlation coefficient for the

S&P 500 Price Index vs. S&P 500

LinkUp Jobs Index is greater than 0.9.

USE CASE

S&P 500 Price Index vs. S&P 500 LinkUp Jobs Index

120 3,000

115

110

105

100

95

90

85

80 1,000

S&

P 5

00 L

inkU

p J

obs

Ind

ex

S&

P 5

00 P

rice

Ind

ex

2,600

2,800

2,400

2,000

2,200

1,800

1,600

1,200

1,400

S&P 500 LinkUp Jobs Index S&P 500 Price Index

2012 2013 2014 2015 2016 20182017 20192012 2013 2014 2015 2016 20182017 2019

2012 2013 2014 2015 2016

50,000

100,000

150,000

200,000

250,000Job openingsLinear (Job openings)

Based on companies LinkUp monitors

Job Openings in Fast Casual Restaurants

Historical Job Growth in Fast Casual Restaurants

Job growth (% change)

-5% 138%

CUSTOM ANALYSIS REPORT

LinkUp conducted a

research project for

Chipotle centered around

job openings in the fast

casual restaurant market.

In particular, Chipotle

was interested in better

understanding labor

demand in the industry

and benchmarking itself

against a peer-group of

competitors.

USE CASECurrent

Job Titles

Team Member 20%

Crew 11%

Assistant Manager 10%

General Manager 9%

Shift Manager 8%

Shift Supervisor 7%

Delivery 5%

Barista 5%

Shift Lead 4%

All other titles 21%

Based on the companies LinkUp monitors, there are just over 160,000 positions currently

open at fast casual restaurants in the United States. The job titles of Team Member and

Crew Member account for just over 30% of all current job openings.

McDonald’s 25%

Starbucks 10%

Panera 9%

Domino’s Pizza 7%

Taco Bell 7%

Jack in the Box/Qdoba 5%

KFC 5%

Carl’s Jr./Hardee’s 3%

Marco’s Pizza 3%

Steak N Shake 2%

Checkers 2%

Sonic Drive-In 2%

Chipotle 2%

All other 17%


CurrentEmployers

LinkUp is able to capture job data from 75%

of the top 50 fast-food restaurant chains in

the U.S. Among these chains, McDonald’s,

Starbucks, Panera, Domino’s, and Taco Bell

all have over 10,000 jobs open now.

Custom report clients include:

LinkUp.com | LinkUp Custom Analysis Report | Page 15 of 21

Key Competitor Snapshot:

Location of Panera’s Open Positions

Panera Highlights

Panera currently has almost 12,000 open positions in the United States. Bakery and Catering positions account for just over 50% of all open jobs. All the job descriptions, except for Restaurant Manager, say very little about the day-to-day requirements of the position. Most descriptions only have one, short paragraph with very generic language such as “Baking is central to the Panera Bread essence of warmth and quality.”

Panera’s Current Job Titles

Bakery positions 3,839

Catering positions 2,235

Shift Supervisor 1,979

Cashier 1,974

Cook 874

Restaurant Manager 633

Delivery positions 406

All other titles 19

Total Positions 11,959

Unique to Panera In 2010 Panera opened its first Panera Cares Community Café. The cafés operate on a pay-what-you-can model and depend on donations and support to ensure their sustainability. There are now five cafés around the United States. Panera currently has three openings for “Ambassadors” who are basically greeters that are skilled in working with the diverse populations served by the cafés. Panera proudly references several awards they’ve received in all of their job descriptions. Panera uses the same descriptions within each job throughout the U.S. and at both company-owned and franchised locations.

Panera’s Positions

Bakery: For Bakery positions, Panera separates the job titles into Day and Night Bakers. Each job description, regardless of “Day” or “Night” in the job title has about 250 words and uses the words “Baker” or “bakery” four times.

» Most frequently used words: Bread (5 times) | Panera (4 times) | Take (3 times)

Catering: Within this group, the Catering Coordinator accounts for almost all of the open positions. The description says very little about tasks: “Catering coordinators know our menu thoroughly and provide detailed attention to ensure our great food is delivered timely and accurately.” The job description is about 275 words and uses “catering” twice.

» Most frequently used words: Food (4 times) | Company (4 times) | Customers (3 times)

Shift Supervisor: The Shift Supervisor role is the only mid-level management position at Panera. The job description has just over 320 words and uses “Shift Supervisor” twice.

» Most frequently used words: Opportunity (5 times) | Food (4 times) | Customer (4 times)

Cashier: The Cashier position primarly works the cash register and bakery display area in the restaurants. The job description does say a Cashier “must understand and practice basic food safety” but Cashiers are not required to prepare any food. The description has about 260 words and uses “Cashier” once in the description.

» Most frequently used words: Customer (6 times) | Food (4 times) | Service (4 times)



Location of Whole Foods’ Open Positions

Whole Foods Highlights

Similar to Target, LinkUp focused its analysis of Whole Foods on open positions related to food delivery and preparation. As of October 2016, that is almost 1,500 open positions out of about 3,400 open positions across the United States. Whole Foods is very inconsistent in its jobs titles. For example, one location has an opening right now for a Deli Assistant Manager while another store has an opening for a Deli Associate Manager. The job descriptions for these two positions are virtually the same. Because of their lack of consistency, Whole Foods has almost 800 job titles for their 3,400 open positions. To contrast, Target only has 630 job titles for their 16,000 open positions.

Unique to Whole Foods Whole Foods proudly talks about their diversity in their “About Us” section: “Our Team Members represent over 50 different nations. We are people from diverse backgrounds and perspectives, yet all work together to meet the needs of our customers.” Posting and closing dates in all job descriptions. Whole Foods has some physical requirements:

“Willingness to taste and evaluate all products offered in department.”

“Bend and stoop to grasp objects and climb ladders. Bend and twist neck and waist, reach above and...”

Whole Foods’ Current Job Titles

Prepared Foods Team Member 215

Bakery Team Member (incl. Baker) 168

Grocery Team Member 163

Produce Team Member 132

Cook 128

Meat Team Member 123

Meat & Seafood Team Member 103

Associate Team Leader 71

Supervisor 62

Whole Body Team Member 57

Seafood Team Member 54

Cake Decorator 50

Barista/Coffee & Juice Bar Team Member 44

Floral Team Member 26

Team Leader 22

Beer/Wine/Beverage Team Member 15

All other team members 46


Whole Foods’ Positions

Team Member: Most of the positions have a long and short version. The shortest description is for a Meat & Seafood Production Team Member at about 240 words. The longest description is for a Store Baker at 680 words.

» Most frequently used words: Product (9 times) | Team (9 times) | Member (8 times) ( Based on Bakery Service Team Member)

Team Leader: Whole Foods has at least eight levels of management in each store: Supervisor, Associate Team Leader, Team Leader, Associate Store Team Leader, Store Team Leader, Associate Store Manager, Store Manager, and Store Director. Whole Foods says “we are able to fill a majority of leadership roles from our existing Team Member base.” This may explain why there are so few leadership job openings compared to Team Member openings. For the actual job descriptions of the management positions, the longest description is for a Produce Supervisor at 720 words while the shortest description is for a Meat Supervisor at about 315 words.

» Most frequently used words: Team (19 times) | Member (11 times) | Produce (8 times) ( Based on Produce Supervisor)



Five Guys Highlights

As of October 2016, Five Guys had 2,250 open positions throughout the United States. Five Guys has four primary titles that account for 97% of all open positions. They have three levels of management at most stores. They do not advertise for Area or District Managers on their website. Those roles are most likely considered corporate positions for which their website instructs candidates: “If you would like additional information or are interested in applying for a corporate position, please email [email protected].”

Location of Five Guys’ Open PositionsFive Guys’ Current Job Titles

Crew Member 781

Shift Lead 672

Assistant Manager 612

General Manager 117

Shift Manager 44

Management 20

Team Lead/Crew Lead/Gray Shirt 12 4


Unique to Five Guys Five Guys puts the address of the restaurant inside the text of each job opening. Each job has a unique job number. Five Guys uses casual language to communicate its culture. “We make some of the best burgers in the biz and do it to the sounds of classic rock and roll. Yes, singing is encouraged.”

Five Guys’ Positions

Crew Member: Five Guys uses eight versions of their Crew Member description. The longest version has about 280 words; the shortest has just over 50 words. The longest version uses the word “Crew” eight times.

» Most frequently used words: Crew (8 times) | Work (7 times) | Burger (5 times)

Shift Lead: Five Guys uses two versions of the Shift Lead/Shift Leader position. The most frequently used version has just over 450 words; the shorter version has about 55 words. The longer version uses “Shift Lead” once while the shorter version uses it twice.

» Most frequently used words: Work (10 times) | Shift (7 times) | Team (5 times)

Assistant Manager: Similar to the General Manager position, Five Guys uses three versions of the Assistant Manager description. Most positions use a description with just over 400 words. The shortest description uses less than 70 words. Both the longer and shorter versions use “Assistant Manager” twice.

» Most frequently used words: Work (10 times) | Manager (4 times) | Shift (4 times)

General Manager: Five Guys uses three versions of their General Manager description. The most frequently used version has about 450 words. The shortest version only has 70 words. The longer version uses “General Manager” only once in the description while the shortest version uses it three times.

» Most frequently used words: Work (10 times) | Shift (6 times) | Team (5 times)

12 A position unique to only four Five Guys locations in San Francisco’s East Bay. The position is similar to an Assistant Manager role at Five Guys.

LinkUp measures how long a job stays

hosted on a career site before it comes

down. We call this time-to-fill. We assume

that when a job is removed from a career

site, it has been filled. Duration can indicate

a few things; longer than average time-

to-fill may demonstrate that an employer

is struggling to stay competitive, while

companies with short durations may be

experiencing high turnover.

DURATION

USE CASE Average Number of Days to Fill Full Stack Engineer Job Openings

76

74

70

53

52

36

36

35

30

27JPMorgan Chase

Salesforce.com

PayPal

eBay

Visa

Capital One

Wal-Mart

Amazon.com

Liberty Mutual

Apple

Data source: Daily, active job openings as of February 2018.

Job Market Diversification in Large Larkets (MSA population: >1,000,000)LinkUp publishes a quarterly Job

Market Diversification Report that

assesses job market resilience using

LinkUp’s extensive job listing data and

exclusive statistical methodology.

Job market diversification is

measured by:

Industry

Company

Occupation

JOB MARKET DIVERSIFICATION REPORT

USE CASE

25 30 35 40 45 50 55 60

Salt Lake City, UT

Tampa, FL

Las Vegas, NV

Buffalo, NY

Miami, FL

New Orleans, LA

Sacramento, CA

New York, NY

Oklahoma City, OK

San Jose, CA

PO

PU

LA

TIO

N

60800,000

1,800,000

2,800,000

3,800,000

4,800,000

5,800,000

6,800,000

7,800,000

JOB MARKET DIVERSIFICATION SCORE Source: LinkUp

JOB MARKET SEASONALITY

Understanding the seasonal patterns

of job gains and losses can inform

investment strategy. The S&P 500 LinkUp

Jobs Index demonstrates the seasonality

of the job market overall and at the GICS

sector level. Typically seasonal patterns

include hiring pushes in spring and fall,

and lulls in summer and over the holidays.

USE CASE

Seasonality in the S&P 500® LinkUp Jobs Index

S&

P 5

00 L

inkU

p J

obs

Ind

ex

120

110

105

100

95

90

85

January 2012

January 2013

January 2014

January 2015

January 2016

January 2017

January 2018

January 2019

115

80

2012 2013 2014 2015 2016 20182017 2019

The LinkUp 10,000 is an analytic, published

both daily and monthly, that captures the sum

total of U.S. job openings from the 10,000

global employers in LinkUp’s job search

engine with the most U.S. job openings.

THE LINKUP 10,000

USE CASE

New Job Listings

LINKUP MONTHLY U.S. LABOR MARKET RECAP

M J J A S NO D J F M A M

NE

W &

RE

MO

VE

D J

OB

S

UN

IQU

E JO

BS

New Jobs Removed Jobs Total Unique Jobs

New, Removed, and Total Jobs

NAICS Occupations Top & Bottom Occupations

Top & Bottom Occupations by NAICS 2-digit MoM YTD

Educational Services 6% 13%

Health Care and Social Assistance 4% 12%

Retail Trade -3% -3%

Accommodation and Food Services -3% -11%

Manufacturing -5% -3%

SOC Occupations Top & Bottom Occupations

Top & Bottom Occupations by SOC MoM YTD

Healthcare Occupations 6% 25%

Business and Financial Operations Occupations 3% 36%

Management Occupations 2% 29%

Computer and Mathematical Occupations 1% 29%

Food Preparation and Serving Related Occupations -3% -5%

Transportation and Material Moving Occupations -5% 10%

The LinkUp 10,000


JOB

S

4M

3M

1.6M

1M

1.3M

U.S. Hiring Velocity (Days to fill)

DA

YS

25

30

35

40

45

50

55


4M

3.2M

3.7M

DISTRESS SIGNALS

Daily Created Job Openings Daily Deleted Job OpeningsTotal Daily Active Job Openings

30

20

10

150

100

50

Jun'19Jan'19 Feb'19 Mar'19 Apr'19 May'19Jul'18 Aug'18 Sep'18 Oct'18 Dec'18Nov'18Jan'18 Feb'18 Mar'18 Apr'18 May'18 Jun'18

TO

TAL

DA

ILY

JO

BS

CR

EA

TE

D &

DE

LE

TE

D J

OB

S

3,500

3,000

2,500

2,000

1,500

1,000

500

700

600

500

400

300

200

100

Jun'18Jan'18 Feb'18 Mar'18 Apr'18 May'18Jul'17 Aug'17 Sep'17 Oct'17 Dec'17Nov'17Jan'17 Feb'17 Mar'17 Apr'17 May'17 Jun'17

TO

TAL

DA

ILY

JO

BS

CR

EA

TE

D &

DE

LE

TE

D J

OB

S

.

Jul'18 Aug'18 Sep'18 Oct'18 Nov'18Jan'18 Feb'18 Mar'18 Apr'18 May'18 Jun'18

CR

EA

TE

D &

DE

LE

TE

D J

OB

S

800

600

400

20010

20

30

40

50

60

JB Hunt Created & Deleted Jobs Compared to Stock Price

Cre

ated

& D

elet

ed J

obs

Stock P

rice

1,000

500

2,000

1,500

2,500

4,000

3,000

6,000

7,000

2,000

1,000

5,000

2017 2018 2019

UPS Created & Deleted Jobs Compared to Stock Price

Cre

ated

& D

elet

ed J

obs

Stock P

rice

2,500

2,000

3,500

4,000

1,500

1,000

3,000

500

80

20

120

100

140

60

40

2017 2018 2019

Transportation Job Count by Month

TRADE WAR AFFECTS ON TRANSPORTATIONU

niq

ue A

ctiv

e Jo

bs

Created

& D

eleted Job

s

8,000

4,000

16,000

12,000

20,000

20,000

10,000

30,000

40,000

2016 2017 2018 2019

China WTO claim against U.S. August 14, 2018

Section 301 probeJanuary 17, 2018

New JobsStock Price Trend Removed JobsStock PriceTotal Unique Jobs

The cannabis industry is growing with

the increase in legalization across the

country and the associated stigma going

up in smoke. The opportunities available

in this emerging industry are beginning to

influence the job market and economies

in legalized areas. From insights garnered

from its high-quality index of global

job listings on the web, LinkUp closely

analyzes this emerging sector.

CANNABIS REPORT

USE CASE

Top 10 Cannabis Companies by Number of Job Openings Top 10 Cannabis Occupations

Job Openings by Zip Code

Data source: Daily, active job openings as of 5/10/2019. Cannabis companies only (no job boards).

Size of circle = Number of job openings. Larger the circle, the more job openings.

“[LinkUp] (j)ob postings are correlated to various

job-centric macroeconomic indicators such

as non-farm payrolls and the unemployment

rate. Job postings can even assist portfolio

managers with sector rotation strategies. As

investment managers, we are continually in

search of new and distinct sources of alpha.

We think it’s worthwhile to investigate the job

posting dataset as a differentiated source of

stock-specific and macro alpha.”

–Deutsche Bank Markets Research, Signal Processing, “Macro and Micro JobEnomics,” May 19, 2015

DEUTSCHE BANK ANALYSIS

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

Long / short monthly quintile return spread of job factors using various rebalance frequencies

Ave

rage

Lon

g /

Sho

rt A

nnua

lized

Ret

urn

(%)

Active Job Factors Active Job Growth Factor Job Creation Growth FactorJob Creation Factor

1 Month Rebalance 6 Month Rebalance 12 Month Rebalance

Source: Bloomberg Finance LP, Compustat, IBES, Russell, S&P, Thomson Reuters, Worldscope, LinkUp, Deutsche Bank Quantitative Strategy

USE CASE

UNICORN HIRING

USE CASE

0 20 40 60 80 100

Information

Prof, Sci, Tech Svcs

Manufacturing

Accomm, Food Svcs

Retail

Finance, Insurance

Transportation

Job Duration by Industry

YTD 2017 Growth for Unicorns in Hotel & Food Service Industry Carbon Gusto Robin Hood Domo Airbnb

Unicorn By

Industry

Unicorn by

Industry

Prof, Scien, & Tech Svcs

Transportation

Information

Manufacturing

Retail Trade

Finance & Insurance

Hotel & Food Svcs

All Other Industries

0

200

400

Q1 Q2 Q30

200

400

Job Openings by Range

< 10

10 – 99

100 – 999

> 5,000

“Hot” occupations include Tax Examiners,

Transportation Managers, Claims

Examiners, Service Unit Operators,

Quality Control Managers, and Petroleum

Engineers. “Cold” occupations include

Photographers, Receptionists, Floral

Designers, Meat Cutters, Animal

Caretakers, and Animal Trainers.

HOT & COLD OCCUPATIONS IN 2018

USE CASE

Animal Trainers

Nonfarm Animal Caretakers

Meat, Poultry, Fish Cutters and Trimmers

Floral Designers

Receptionists and Information Clerks

Photographers

Petroleum Engineers

Quality Control Systems Managers

Gaming Supervisors

Service Unit Operators, Oil, Gas, and Mining

Claims Examiners, Property and Casualty Insurance

Transportation Managers

Tax Examiners, Collectors, Revenue Agents

0% -30% -20% -10% 0% 10% 20% 30% 40%

Hot and Cold Occupations in 2018

Source: LinkUpS Li kU

0%%%%%%%0%%%%%%0%%%0%%%%%%0%

Online gambling has taken over the global

betting market, generating £4.7 billion in 2017

in the UK alone. According to the LinkUp job

openings database, GVC Holdings, which

acquired Ladbrokes in March 2018, leads the

way in hiring with almost 1,430 current job

openings. William Hill and Scientific Games

Corp. both have more than 100 job openings in

the US, UK, and other countries. Popular U.S.

online gaming companies such as DraftKings

and FanDuel (owned by Paddy Power Betfair)

each have less than 75 job openings.

ONLINE GAMBLING

USE CASE

Source: LinkUp

11

1,472

37

49

63

98

183

594

Current Job Openings

Percent of Job Openings by Country

0% 20% 40% 60% 80%10% 30% 50% 70% 90% 100%

bet365

William Hill

The Stars Group

DraftKings

Paddy Power Betfair (FanDuel)

Playtech

Scientifi c Games Corp.

GVC Holdings PLC (Ladbrokes)

United States Great Britian All Other Countries

11

1,472

37

49

63

98

183

594

GVC Holdings PLC (Ladbrokes)

William Hill

Scientifi c Games Corp.

The Stars Group

DraftKings

bet365

Paddy Power Betfair (FanDuel)

Playtech

0% 20% 40% 60% 80%10% 30% 50% 70% 90% 100%

United States Great Britian All Other Countries

In this time of almost “full

employment” we are seeing bonuses

relied on more heavily as a recruiting

tool. In fact, companies are putting

the word “Bonus” right in job titles

to grab candidates’ attention. In the

LinkUp database, we’ve seen 6,000

more job titles with the word “Bonus”

in them in December 2018 compared

to just two years ago.

BONUS IN JOB TITLES

USE CASE

Share of Total Job Openings with “Bonus” in Job Title

25.8%Registered Nurses

19.4%Truck Drivers

4.9%Nursing & Home Health Aides

4.2%Licensed Practical/Vocational Nurses

3.9%Truck Mechanics

3.7%Therapists

2.6%Massage Therapists

2.4%Security Guards

1.8%Automotive Technicians

1.7%Personal Care Aides

Number of Job Openings with “Bonus” in Job Title

11,700

December 2016

18,300

December 2018

16,700

December 2017

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