The unemployed web-based indicator is an estimation of the unemployed variable from the Labor Force Survey (LFS), which is quarterly published by Instituto Nacional de Estadística. The table below shows the values for this variable offered by the LFS (parados_EPA) and the prediction made by the models using web-based indicators (parados_WEI).
What is the difference between the LFS and WEI?
The Labor Force Survey (LFS) is a survey in which a sample of families is directly asked about their employment status. Web-based economic indicators (WEI) estimate the number of unemployed from the popularity of a set of Internet search query terms related to the economic activity and the unemployment.