Abstract
Timely economic data availability is a long-standing challenge both to researchers and policymakers. Data generated by mobile phones are used to assess the level of individual socio-economic characteristics, such as income or wealth. This chapter discusses Google Trends Data and examples of its application in labour market studies. It identifies the potential drawbacks and limitations of analyses based on Google search data. An explosion of economic papers using Google data was observed after the turn of 2010 and 2011. The analysis of internal factors that may impact the quality of studies based on Internet search data indicated, for example, that search data may be skewed by some demographical factors such as age or sex. The last external factor which may affect the quality of forecasts based on Google Search Volume Index is the use of words having the same spelling but different meanings and origins, that is, homonyms.
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