Modelling prediction of unemployment statistics using web technologies

Abstract The global diffusion of Internet involves economic, political and demographic factors that can predict in real time. In this article, we demonstrate that according to data provided by EUROSTAT, the number of people looking for a job in Romania it is correlated with specific query terms using Google Trends. Search engine data is used to “predict the present” values of different economic indicators. The obtained results are compared with the classical method of developing the economic indicators, with official EUROSTAT employment data. In this paper, we demonstrate that the new methods to extract the economic indicators from web technologies are accurate.