NERO at the National Skills Commission

The National Skills Commission is using “nowcasting,” “an emerging methodology that typically uses both traditional and real-time data, as well as big data techniques, such as machine learning, to estimate current trends in a timely manner.”

Good-o although the NSC adds its estimates “are broadly consistent” with Australian Bureau of Statistics, Labour Force Survey Data.

The commission calls its new product Nowcast of Employment by Region and Occupation, or NERO – yes, as in the Roman emperor who committed suicide after the establishment turned against him. Omen or not, it adds to NSC products with improbable acronyms, there already is the Jobs and Education Data Infrastructure, or JEDI.