There is substantial interest in measuring not just the quantity of new jobs, but the quality as well. Existing surveys by the Bureau of Labor Statistics describe the number of new jobs created each month, as well as wages of current workers, but not wages (or other characteristics) for newly hired workers.
To fill that gap, we have created a new job quality index for newly hired workers. Drawing on publicly accessible data from the Current Population Survey and Occupational Employment Statistics, we match newly hired workers to their wages by occupation, which is more closely tied to skill demand than measures based on industry. The New Hires Quality Index accounts for changing demographics of hires, can be consistently constructed from 2001 forward overall and for subgroups, does not rely on self-reported wages, and will be updated monthly. It should serve as a valuable new tool in gauging realized labor demand.