Searching for Pre-Bankruptcy Signals in Alt Jobs Data

LinkUp’s job listing data, collected daily and directly from company websites since 2007, can provide unprecedented insight into market trends at the industry, geographic, or company level. Because a listing indicates an intent to hire, tracking job listings can shed light on sector, individual company, and stock performance.

Analysts at Refinitiv used LinkUp’s alternative job listing database to search for early warning signs that rental car company Hertz Global Holdings Inc. (HTZ.N) was struggling well before it filed for Chapter 11 bankruptcy protection in May 2020. Findings show that a steep decline in active jobs for the rental car company preceded declines in quarterly revenue estimates.