ABSTRACT
Large and acute economic shocks such as the 2007-2009 financial crisis and the current COVID-19 infections rapidly change the economic environment. In such a situation, real-time analysis of regional heterogeneity of economic conditions using alternative data is essential. We take advantage of spatio-temporal granularity of alternative data and propose a Mixed-Frequency Aggregate Learning (MF-AGL) model that predicts economic indicators for the smaller areas in real-time. We apply the model for the real-world problem;prediction of the number of job applicants which is closely related to the unemployment rates. We find that the proposed model predicts (i) the regional heterogeneity of the labor market condition and (ii) the rapidly changing economic status. The model can be applied to various tasks, especially economic analysis. © 2022 IEEE.