What is changing?
Lightcast will be transitioning the Singapore job postings data to our improved industry classification
The new method of industry coding is outlined here
Timeline: When will this change take place?
We are planning for this change to go live on the 9th September 2024
What are the benefits of this change?
Lightcast's improved industry classification will use the newest version of our coding which will enable:
Users will see more companies coded to industries, with fewer nulls in our data then before
Faster updates of companies and the industries these map to
Impact
What will this change mean for me?
Classification of industries will shift on two digit level. Looking at the data between 1 Jan 2020 and 30 June 2024 most significant changes are in the following industries, when filtering out non-employers:
This change is a direct reflection of the new methodology. Lightcast is coding postings to the company, vs the industry that that company employs. For example the company name 'Agency for Science, Technology and Research (A*STAR)' from the 9 Sep will be coded to 72 SCIENTIFIC RESEARCH AND DEVELOPMENT vs previously, where it was being partially coded to 84 PUBLIC ADMINISTRATION AND DEFENCE and partially to 72 SCIENTIFIC RESEARCH AND DEVELOPMENT.
What does this mean for my analysis?
Consistent trends: Looking at the change from a ranking/distribution standpoint we see similar rankings in industries with the most notable ones outlined in the previous section.
More noticeable changes potential in specific analyses: In more targeted analyses, especially around specific data elements, customers may see more significant shifts. Customers may choose to rerun some analysis due to this.
Technical Notes
Why are you changing the industry classification?
Lightcast has invested in better postings classification. With this, we have taken steps to align this classification across all of our geographies.
I am running specific analysis, what does this change mean for me?
Customers focusing on:
OTHER PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES, will see more appropriate industry coding for the specific companies
COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES companies, will see better coding
EDUCATION or HEALTH SERVICES, this coding has shifted due to the change in methodology as detailed above
The full methodology of job postings analytics can be found here. Please send your questions to [email protected] so we can further help.