{
  "generated_at": "2026-11-02T23:08:07.246Z",
  "method": {
    "deseasonalization": "Iterative multiplicative seasonal adjustment (5 passes): 2x12 centered MA trend -> median month-of-year ratio -> factors normalized to mean 1.0 -> series / factors. Estimated per (kind x window) independently.",
    "window_correction": "24hr counts are divided by a trailing 12-month median share of the final total, restating them as final-total-equivalents so the 24hr and 21d indexes share a common scale and the 24hr index can nowcast a thread on its first day.",
    "rebasing": "Each deseasonalized series is rebased to 100 = mean over the common overlap period 2014-07 onward.",
    "indexes": {
      "badness_index": "HEADLINE. 100 * wants_index / hiring_index, i.e. seasonally adjusted job-seeker volume relative to employer-post volume. 100 = average badness over 2014-07..latest; 200 = twice as bad as average, 50 = half as bad. Higher = worse for job seekers. Scale-free: HN audience growth cancels out.",
      "badness_percentile": "Empirical percentile of this month's badness within the whole index period (100 = worst month on record).",
      "badness_band": "good for seekers (<50), better than average (50-100), worse than average (100-200), bad (200-300), very bad (>=300).",
      "hiring_index": "Deseasonalized employer-post volume (demand). Its level is partly contaminated by HN audience growth.",
      "wants_index": "Deseasonalized job-seeker volume (supply). Its level is partly contaminated by HN audience growth.",
      "tightness_index": "Deprecated alias of badness_index, kept for backward compatibility. Note it is the inverse of the economist's usual 'tightness' (vacancies per unemployed).",
      "activity_index": "sqrt(hiring_index * wants_index). Overall job-thread engagement; NOT scale-free, so it partly tracks HN's own traffic."
    },
    "window_choice": "21d captures 99.9-100% of final comments with no next-month overlap (r=1.000 with total) and is the recommended basis. 24hr is the fast nowcast (r=0.976 with total).",
    "excluded": "Months with no complete 21d window are excluded (see partial_months)."
  },
  "base_period": {
    "start": "2014-07",
    "end": "2026-10",
    "months": 148
  },
  "seasonal_factors": {
    "months": [
      "Jan",
      "Feb",
      "Mar",
      "Apr",
      "May",
      "Jun",
      "Jul",
      "Aug",
      "Sep",
      "Oct",
      "Nov",
      "Dec"
    ],
    "hiring_21d": [
      0.8747,
      1.0129,
      1.0519,
      1.0032,
      1.144,
      0.9737,
      0.9786,
      1.0155,
      0.9245,
      1.0035,
      1.0935,
      0.924
    ],
    "hiring_24hr": [
      0.8072,
      1.0139,
      1.0611,
      0.9756,
      1.179,
      0.9993,
      0.9769,
      1.0276,
      0.8959,
      1.0176,
      1.1246,
      0.9214
    ],
    "wants_to_be_hired_21d": [
      0.9968,
      0.941,
      1.0559,
      1.1273,
      1.0642,
      0.9929,
      0.9574,
      1.0669,
      0.9589,
      0.963,
      0.9394,
      0.9364
    ],
    "wants_to_be_hired_24hr": [
      0.9417,
      0.9322,
      1.0019,
      1.2793,
      1.0575,
      0.9729,
      0.9964,
      1.0459,
      0.9252,
      0.934,
      0.9748,
      0.9383
    ]
  },
  "accrual_share_24hr": {
    "months": [
      "2010-06",
      "2010-07",
      "2010-08",
      "2010-09",
      "2010-10",
      "2010-11",
      "2010-12",
      "2011-01",
      "2011-02",
      "2011-03",
      "2011-04",
      "2011-05",
      "2011-06",
      "2011-07",
      "2011-08",
      "2011-09",
      "2011-10",
      "2011-11",
      "2011-12",
      "2012-01",
      "2012-02",
      "2012-03",
      "2012-04",
      "2012-05",
      "2012-06",
      "2012-07",
      "2012-08",
      "2012-09",
      "2012-10",
      "2012-11",
      "2012-12",
      "2013-01",
      "2013-02",
      "2013-03",
      "2013-04",
      "2013-05",
      "2013-06",
      "2013-07",
      "2013-08",
      "2013-09",
      "2013-10",
      "2013-11",
      "2013-12",
      "2014-01",
      "2014-02",
      "2014-03",
      "2014-04",
      "2014-05",
      "2014-06",
      "2014-07",
      "2014-08",
      "2014-09",
      "2014-10",
      "2014-11",
      "2014-12",
      "2015-01",
      "2015-02",
      "2015-03",
      "2015-04",
      "2015-05",
      "2015-06",
      "2015-07",
      "2015-08",
      "2015-09",
      "2015-10",
      "2015-11",
      "2015-12",
      "2016-01",
      "2016-02",
      "2016-03",
      "2016-04",
      "2016-05",
      "2016-06",
      "2016-07",
      "2016-08",
      "2016-09",
      "2016-10",
      "2016-11",
      "2016-12",
      "2017-01",
      "2017-02",
      "2017-03",
      "2017-04",
      "2017-05",
      "2017-06",
      "2017-07",
      "2017-08",
      "2017-09",
      "2017-10",
      "2017-11",
      "2017-12",
      "2018-01",
      "2018-02",
      "2018-03",
      "2018-04",
      "2018-05",
      "2018-06",
      "2018-07",
      "2018-08",
      "2018-09",
      "2018-10",
      "2018-11",
      "2018-12",
      "2019-01",
      "2019-02",
      "2019-03",
      "2019-04",
      "2019-05",
      "2019-06",
      "2019-07",
      "2019-08",
      "2019-09",
      "2019-10",
      "2019-11",
      "2019-12",
      "2020-01",
      "2020-02",
      "2020-03",
      "2020-04",
      "2020-05",
      "2020-06",
      "2020-07",
      "2020-08",
      "2020-09",
      "2020-10",
      "2020-11",
      "2020-12",
      "2021-01",
      "2021-02",
      "2021-03",
      "2021-04",
      "2021-05",
      "2021-06",
      "2021-07",
      "2021-08",
      "2021-09",
      "2021-10",
      "2021-11",
      "2021-12",
      "2022-01",
      "2022-02",
      "2022-03",
      "2022-04",
      "2022-05",
      "2022-06",
      "2022-07",
      "2022-08",
      "2022-09",
      "2022-10",
      "2022-11",
      "2022-12",
      "2023-01",
      "2023-02",
      "2023-03",
      "2023-04",
      "2023-05",
      "2023-06",
      "2023-07",
      "2023-08",
      "2023-09",
      "2023-10",
      "2023-11",
      "2023-12",
      "2024-01",
      "2024-02",
      "2024-03",
      "2024-04",
      "2024-05",
      "2024-06",
      "2024-07",
      "2024-08",
      "2024-09",
      "2024-10",
      "2024-11",
      "2024-12",
      "2025-01",
      "2025-02",
      "2025-03",
      "2025-04",
      "2025-05",
      "2025-06",
      "2025-07",
      "2025-08",
      "2025-09",
      "2025-10",
      "2025-11",
      "2025-12",
      "2026-01",
      "2026-02",
      "2026-03",
      "2026-04",
      "2026-05",
      "2026-06",
      "2026-07",
      "2026-08",
      "2026-09",
      "2026-10"
    ],
    "hiring_24hr": [
      0.8851,
      0.8851,
      0.8851,
      0.8663,
      0.8475,
      0.8411,
      0.8475,
      0.8411,
      0.8346,
      0.834,
      0.8346,
      0.8411,
      0.8411,
      0.8346,
      0.8411,
      0.8424,
      0.8424,
      0.8512,
      0.8474,
      0.8474,
      0.8512,
      0.8593,
      0.8512,
      0.8474,
      0.835,
      0.835,
      0.835,
      0.8201,
      0.835,
      0.835,
      0.8201,
      0.8201,
      0.8201,
      0.8105,
      0.8201,
      0.8313,
      0.8268,
      0.8475,
      0.8341,
      0.8341,
      0.8341,
      0.8114,
      0.8114,
      0.8114,
      0.7913,
      0.786,
      0.7854,
      0.7854,
      0.7854,
      0.7793,
      0.7793,
      0.7793,
      0.7666,
      0.7578,
      0.7611,
      0.7491,
      0.7491,
      0.734,
      0.734,
      0.734,
      0.7611,
      0.7611,
      0.7611,
      0.7723,
      0.7787,
      0.7933,
      0.7933,
      0.7933,
      0.8035,
      0.8042,
      0.8037,
      0.8037,
      0.8044,
      0.8044,
      0.8037,
      0.7967,
      0.7933,
      0.7851,
      0.7859,
      0.7859,
      0.7806,
      0.7793,
      0.7691,
      0.7585,
      0.7545,
      0.7545,
      0.7507,
      0.7469,
      0.7469,
      0.7469,
      0.7469,
      0.7469,
      0.7507,
      0.7507,
      0.7476,
      0.7484,
      0.7484,
      0.7538,
      0.7585,
      0.7585,
      0.7585,
      0.7585,
      0.7577,
      0.7577,
      0.7433,
      0.7331,
      0.748,
      0.748,
      0.7554,
      0.7502,
      0.7502,
      0.7582,
      0.7502,
      0.741,
      0.7502,
      0.7502,
      0.7502,
      0.7529,
      0.7529,
      0.7502,
      0.7452,
      0.7462,
      0.7462,
      0.7462,
      0.7543,
      0.7543,
      0.7543,
      0.7543,
      0.7543,
      0.7574,
      0.7574,
      0.7574,
      0.7574,
      0.7533,
      0.7514,
      0.7514,
      0.7451,
      0.7514,
      0.7451,
      0.7451,
      0.7514,
      0.7514,
      0.7451,
      0.7514,
      0.7514,
      0.7482,
      0.7515,
      0.7455,
      0.7455,
      0.7444,
      0.7455,
      0.7455,
      0.7444,
      0.7333,
      0.7333,
      0.7225,
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      0.628,
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      0.6078,
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      0.581,
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      0.5938,
      0.6013,
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      0.5954,
      0.5954,
      0.5954,
      0.5857,
      0.5767,
      0.5767,
      0.5857,
      0.5767
    ],
    "wants_to_be_hired_24hr": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
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      null,
      null,
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      null,
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      null,
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      0.8738,
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      0.7712,
      0.768,
      0.7549,
      0.7418,
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      0.7418,
      0.7512,
      0.7385,
      0.7385,
      0.7346,
      0.7325,
      0.7289,
      0.7169,
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      0.6694,
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      0.6911,
      0.6911,
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      0.6139,
      0.6447,
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      0.6731,
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      0.5891,
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      0.558,
      0.558,
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      0.558,
      0.558,
      0.5611,
      0.5611,
      0.5611,
      0.5761,
      0.5938,
      0.5938,
      0.5938,
      0.5938,
      0.5938,
      0.6018,
      0.6254,
      0.6254,
      0.6336,
      0.6336,
      0.6618,
      0.6763,
      0.6763,
      0.6906,
      0.6906,
      0.7043,
      0.7095,
      0.7127,
      0.7095,
      0.7095,
      0.7127,
      0.7127,
      0.7099,
      0.7099,
      0.7099,
      0.7099,
      0.7127,
      0.717,
      0.7208,
      0.726,
      0.726,
      0.726,
      0.7309,
      0.726,
      0.7309,
      0.7309,
      0.7309,
      0.7045,
      0.6862,
      0.6764,
      0.6764,
      0.6764,
      0.6764,
      0.6826,
      0.6826,
      0.6713,
      0.6713,
      0.6916,
      0.6916,
      0.6916,
      0.6799,
      0.6801,
      0.6769,
      0.6691,
      0.6769,
      0.6769,
      0.6769,
      0.6877,
      0.6877,
      0.6939,
      0.6939,
      0.7052,
      0.7052,
      0.7052,
      0.7052,
      0.7052,
      0.6921,
      0.681,
      0.6701,
      0.6547,
      0.6547,
      0.6547,
      0.6533,
      0.6442,
      0.6442,
      0.6409,
      0.6409,
      0.6409,
      0.6333,
      0.6333,
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      0.5725,
      0.5725,
      0.5725,
      0.5725,
      0.5725,
      0.5725,
      0.5611,
      0.5484
    ]
  },
  "all_months": [
    "2010-06",
    "2010-07",
    "2010-08",
    "2010-09",
    "2010-10",
    "2010-11",
    "2010-12",
    "2011-01",
    "2011-02",
    "2011-03",
    "2011-04",
    "2011-05",
    "2011-06",
    "2011-07",
    "2011-08",
    "2011-09",
    "2011-10",
    "2011-11",
    "2011-12",
    "2012-01",
    "2012-02",
    "2012-03",
    "2012-04",
    "2012-05",
    "2012-06",
    "2012-07",
    "2012-08",
    "2012-09",
    "2012-10",
    "2012-11",
    "2012-12",
    "2013-01",
    "2013-02",
    "2013-03",
    "2013-04",
    "2013-05",
    "2013-06",
    "2013-07",
    "2013-08",
    "2013-09",
    "2013-10",
    "2013-11",
    "2013-12",
    "2014-01",
    "2014-02",
    "2014-03",
    "2014-04",
    "2014-05",
    "2014-06",
    "2014-07",
    "2014-08",
    "2014-09",
    "2014-10",
    "2014-11",
    "2014-12",
    "2015-01",
    "2015-02",
    "2015-03",
    "2015-04",
    "2015-05",
    "2015-06",
    "2015-07",
    "2015-08",
    "2015-09",
    "2015-10",
    "2015-11",
    "2015-12",
    "2016-01",
    "2016-02",
    "2016-03",
    "2016-04",
    "2016-05",
    "2016-06",
    "2016-07",
    "2016-08",
    "2016-09",
    "2016-10",
    "2016-11",
    "2016-12",
    "2017-01",
    "2017-02",
    "2017-03",
    "2017-04",
    "2017-05",
    "2017-06",
    "2017-07",
    "2017-08",
    "2017-09",
    "2017-10",
    "2017-11",
    "2017-12",
    "2018-01",
    "2018-02",
    "2018-03",
    "2018-04",
    "2018-05",
    "2018-06",
    "2018-07",
    "2018-08",
    "2018-09",
    "2018-10",
    "2018-11",
    "2018-12",
    "2019-01",
    "2019-02",
    "2019-03",
    "2019-04",
    "2019-05",
    "2019-06",
    "2019-07",
    "2019-08",
    "2019-09",
    "2019-10",
    "2019-11",
    "2019-12",
    "2020-01",
    "2020-02",
    "2020-03",
    "2020-04",
    "2020-05",
    "2020-06",
    "2020-07",
    "2020-08",
    "2020-09",
    "2020-10",
    "2020-11",
    "2020-12",
    "2021-01",
    "2021-02",
    "2021-03",
    "2021-04",
    "2021-05",
    "2021-06",
    "2021-07",
    "2021-08",
    "2021-09",
    "2021-10",
    "2021-11",
    "2021-12",
    "2022-01",
    "2022-02",
    "2022-03",
    "2022-04",
    "2022-05",
    "2022-06",
    "2022-07",
    "2022-08",
    "2022-09",
    "2022-10",
    "2022-11",
    "2022-12",
    "2023-01",
    "2023-02",
    "2023-03",
    "2023-04",
    "2023-05",
    "2023-06",
    "2023-07",
    "2023-08",
    "2023-09",
    "2023-10",
    "2023-11",
    "2023-12",
    "2024-01",
    "2024-02",
    "2024-03",
    "2024-04",
    "2024-05",
    "2024-06",
    "2024-07",
    "2024-08",
    "2024-09",
    "2024-10",
    "2024-11",
    "2024-12",
    "2025-01",
    "2025-02",
    "2025-03",
    "2025-04",
    "2025-05",
    "2025-06",
    "2025-07",
    "2025-08",
    "2025-09",
    "2025-10",
    "2025-11",
    "2025-12",
    "2026-01",
    "2026-02",
    "2026-03",
    "2026-04",
    "2026-05",
    "2026-06",
    "2026-07",
    "2026-08",
    "2026-09",
    "2026-10"
  ],
  "index": [
    {
      "month": "2014-07",
      "hiring_index_21d": 68.36,
      "wants_index_21d": 79.55,
      "badness_index_21d": 116.37,
      "tightness_index_21d": 116.37,
      "activity_index_21d": 73.74,
      "hiring_sa_21d": 501.7,
      "wants_sa_21d": 215.2,
      "hiring_index_24hr": 70.88,
      "wants_index_24hr": 77.11,
      "badness_index_24hr": 108.79,
      "tightness_index_24hr": 108.79,
      "activity_index_24hr": 73.93,
      "hiring_sa_24hr": 509.6,
      "wants_sa_24hr": 206.8,
      "hiring_raw_21d": 491,
      "wants_raw_21d": 206,
      "hiring_raw_24hr": 388,
      "wants_raw_24hr": 180,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 60.8,
      "badness_band_21d": "worse than average",
      "seekers_per_employer_21d": 0.42,
      "badness_percentile_24hr": 59.5,
      "badness_band_24hr": "worse than average",
      "seekers_per_employer_24hr": 0.46
    },
    {
      "month": "2014-08",
      "hiring_index_21d": 78.36,
      "wants_index_21d": 114.02,
      "badness_index_21d": 145.51,
      "tightness_index_21d": 145.51,
      "activity_index_21d": 94.52,
      "hiring_sa_21d": 575.1,
      "wants_sa_21d": 308.4,
      "hiring_index_24hr": 84.4,
      "wants_index_24hr": 113.21,
      "badness_index_24hr": 134.13,
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      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 85.1,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.79,
      "badness_percentile_24hr": 83.1,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 0.74
    },
    {
      "month": "2025-11",
      "hiring_index_21d": 72.14,
      "wants_index_21d": 169.24,
      "badness_index_21d": 234.6,
      "tightness_index_21d": 234.6,
      "activity_index_21d": 110.49,
      "hiring_sa_21d": 529.5,
      "wants_sa_21d": 457.7,
      "hiring_index_24hr": 82.89,
      "wants_index_24hr": 199.04,
      "badness_index_24hr": 240.13,
      "tightness_index_24hr": 240.13,
      "activity_index_24hr": 128.44,
      "hiring_sa_24hr": 596,
      "wants_sa_24hr": 533.7,
      "hiring_raw_21d": 579,
      "wants_raw_21d": 430,
      "hiring_raw_24hr": 398,
      "wants_raw_24hr": 301,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 89.9,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.74,
      "badness_percentile_24hr": 87.8,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 0.76
    },
    {
      "month": "2025-12",
      "hiring_index_21d": 79.92,
      "wants_index_21d": 161.09,
      "badness_index_21d": 201.55,
      "tightness_index_21d": 201.55,
      "activity_index_21d": 113.47,
      "hiring_sa_21d": 586.6,
      "wants_sa_21d": 435.7,
      "hiring_index_24hr": 90.88,
      "wants_index_24hr": 171.75,
      "badness_index_24hr": 188.99,
      "tightness_index_24hr": 188.99,
      "activity_index_24hr": 124.93,
      "hiring_sa_24hr": 653.4,
      "wants_sa_24hr": 460.5,
      "hiring_raw_21d": 542,
      "wants_raw_21d": 408,
      "hiring_raw_24hr": 362,
      "wants_raw_24hr": 250,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 76.4,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.75,
      "badness_percentile_24hr": 73.6,
      "badness_band_24hr": "worse than average",
      "seekers_per_employer_24hr": 0.69
    },
    {
      "month": "2026-01",
      "hiring_index_21d": 62.15,
      "wants_index_21d": 148,
      "badness_index_21d": 238.13,
      "tightness_index_21d": 238.13,
      "activity_index_21d": 95.91,
      "hiring_sa_21d": 456.2,
      "wants_sa_21d": 400.3,
      "hiring_index_24hr": 52.44,
      "wants_index_24hr": 147.21,
      "badness_index_24hr": 280.72,
      "tightness_index_24hr": 280.72,
      "activity_index_24hr": 87.86,
      "hiring_sa_24hr": 377.1,
      "wants_sa_24hr": 394.7,
      "hiring_raw_21d": 399,
      "wants_raw_21d": 399,
      "hiring_raw_24hr": 183,
      "wants_raw_24hr": 214,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 90.5,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 1,
      "badness_percentile_24hr": 94.6,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 1.17
    },
    {
      "month": "2026-02",
      "hiring_index_21d": 79.36,
      "wants_index_21d": 215.32,
      "badness_index_21d": 271.31,
      "tightness_index_21d": 271.31,
      "activity_index_21d": 130.72,
      "hiring_sa_21d": 582.5,
      "wants_sa_21d": 582.4,
      "hiring_index_24hr": 82.24,
      "wants_index_24hr": 209.53,
      "badness_index_24hr": 254.78,
      "tightness_index_24hr": 254.78,
      "activity_index_24hr": 131.27,
      "hiring_sa_24hr": 591.3,
      "wants_sa_24hr": 561.8,
      "hiring_raw_21d": 590,
      "wants_raw_21d": 548,
      "hiring_raw_24hr": 359,
      "wants_raw_24hr": 300,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 95.9,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.93,
      "badness_percentile_24hr": 89.9,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 0.84
    },
    {
      "month": "2026-03",
      "hiring_index_21d": 59.71,
      "wants_index_21d": 146.71,
      "badness_index_21d": 245.69,
      "tightness_index_21d": 245.69,
      "activity_index_21d": 93.6,
      "hiring_sa_21d": 438.3,
      "wants_sa_21d": 396.8,
      "hiring_index_24hr": 59.43,
      "wants_index_24hr": 156.05,
      "badness_index_24hr": 262.57,
      "tightness_index_24hr": 262.57,
      "activity_index_24hr": 96.31,
      "hiring_sa_24hr": 427.3,
      "wants_sa_24hr": 418.4,
      "hiring_raw_21d": 461,
      "wants_raw_21d": 419,
      "hiring_raw_24hr": 270,
      "wants_raw_24hr": 240,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 92.6,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.91,
      "badness_percentile_24hr": 93.2,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 0.89
    },
    {
      "month": "2026-04",
      "hiring_index_21d": 61.8,
      "wants_index_21d": 130.86,
      "badness_index_21d": 211.76,
      "tightness_index_21d": 211.76,
      "activity_index_21d": 89.93,
      "hiring_sa_21d": 453.6,
      "wants_sa_21d": 353.9,
      "hiring_index_24hr": 62.25,
      "wants_index_24hr": 103.88,
      "badness_index_24hr": 166.88,
      "tightness_index_24hr": 166.88,
      "activity_index_24hr": 80.41,
      "hiring_sa_24hr": 447.6,
      "wants_sa_24hr": 278.5,
      "hiring_raw_21d": 455,
      "wants_raw_21d": 399,
      "hiring_raw_24hr": 260,
      "wants_raw_24hr": 204,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 79.7,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.88,
      "badness_percentile_24hr": 69.6,
      "badness_band_24hr": "worse than average",
      "seekers_per_employer_24hr": 0.78
    },
    {
      "month": "2026-05",
      "hiring_index_21d": 64.43,
      "wants_index_21d": 186.91,
      "badness_index_21d": 290.09,
      "tightness_index_21d": 290.09,
      "activity_index_21d": 109.74,
      "hiring_sa_21d": 472.9,
      "wants_sa_21d": 505.5,
      "hiring_index_24hr": 54.88,
      "wants_index_24hr": 160.16,
      "badness_index_24hr": 291.84,
      "tightness_index_24hr": 291.84,
      "activity_index_24hr": 93.75,
      "hiring_sa_24hr": 394.6,
      "wants_sa_24hr": 429.4,
      "hiring_raw_21d": 541,
      "wants_raw_21d": 538,
      "hiring_raw_24hr": 277,
      "wants_raw_24hr": 260,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 96.6,
      "badness_band_21d": "bad",
      "seekers_per_employer_21d": 0.99,
      "badness_percentile_24hr": 95.9,
      "badness_band_24hr": "bad",
      "seekers_per_employer_24hr": 0.94
    },
    {
      "month": "2026-06",
      "hiring_index_21d": 68.42,
      "wants_index_21d": 209.27,
      "badness_index_21d": 305.85,
      "tightness_index_21d": 305.85,
      "activity_index_21d": 119.66,
      "hiring_sa_21d": 502.2,
      "wants_sa_21d": 566,
      "hiring_index_24hr": 68.2,
      "wants_index_24hr": 230.35,
      "badness_index_24hr": 337.74,
      "tightness_index_24hr": 337.74,
      "activity_index_24hr": 125.34,
      "hiring_sa_24hr": 490.4,
      "wants_sa_24hr": 617.6,
      "hiring_raw_21d": 489,
      "wants_raw_21d": 562,
      "hiring_raw_24hr": 287,
      "wants_raw_24hr": 344,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 97.3,
      "badness_band_21d": "very bad",
      "seekers_per_employer_21d": 1.15,
      "badness_percentile_24hr": 98,
      "badness_band_24hr": "very bad",
      "seekers_per_employer_24hr": 1.2
    },
    {
      "month": "2026-07",
      "hiring_index_21d": 57.92,
      "wants_index_21d": 199.65,
      "badness_index_21d": 344.72,
      "tightness_index_21d": 344.72,
      "activity_index_21d": 107.53,
      "hiring_sa_21d": 425.1,
      "wants_sa_21d": 540,
      "hiring_index_24hr": 53.82,
      "wants_index_24hr": 205.3,
      "badness_index_24hr": 381.45,
      "tightness_index_24hr": 381.45,
      "activity_index_24hr": 105.11,
      "hiring_sa_24hr": 387,
      "wants_sa_24hr": 550.4,
      "hiring_raw_21d": 416,
      "wants_raw_21d": 517,
      "hiring_raw_24hr": 218,
      "wants_raw_24hr": 314,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 98,
      "badness_band_21d": "very bad",
      "seekers_per_employer_21d": 1.24,
      "badness_percentile_24hr": 98.6,
      "badness_band_24hr": "very bad",
      "seekers_per_employer_24hr": 1.44
    },
    {
      "month": "2026-08",
      "hiring_index_21d": 49.37,
      "wants_index_21d": 193.03,
      "badness_index_21d": 390.95,
      "tightness_index_21d": 390.95,
      "activity_index_21d": 97.63,
      "hiring_sa_21d": 362.4,
      "wants_sa_21d": 522.1,
      "hiring_index_24hr": 42.25,
      "wants_index_24hr": 190.59,
      "badness_index_24hr": 451.15,
      "tightness_index_24hr": 451.15,
      "activity_index_24hr": 89.73,
      "hiring_sa_24hr": 303.8,
      "wants_sa_24hr": 511,
      "hiring_raw_21d": 368,
      "wants_raw_21d": 557,
      "hiring_raw_24hr": 180,
      "wants_raw_24hr": 306,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 99.3,
      "badness_band_21d": "very bad",
      "seekers_per_employer_21d": 1.51,
      "badness_percentile_24hr": 99.3,
      "badness_band_24hr": "very bad",
      "seekers_per_employer_24hr": 1.7
    },
    {
      "month": "2026-09",
      "hiring_index_21d": 57.33,
      "wants_index_21d": 209.37,
      "badness_index_21d": 365.23,
      "tightness_index_21d": 365.23,
      "activity_index_21d": 109.56,
      "hiring_sa_21d": 420.7,
      "wants_sa_21d": 566.3,
      "hiring_index_24hr": 63.35,
      "wants_index_24hr": 206.92,
      "badness_index_24hr": 326.63,
      "tightness_index_24hr": 326.63,
      "activity_index_24hr": 114.49,
      "hiring_sa_24hr": 455.5,
      "wants_sa_24hr": 554.8,
      "hiring_raw_21d": 389,
      "wants_raw_21d": 543,
      "hiring_raw_24hr": 239,
      "wants_raw_24hr": 288,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 98.6,
      "badness_band_21d": "very bad",
      "seekers_per_employer_21d": 1.4,
      "badness_percentile_24hr": 97.3,
      "badness_band_24hr": "very bad",
      "seekers_per_employer_24hr": 1.21
    },
    {
      "month": "2026-10",
      "hiring_index_21d": 52.68,
      "wants_index_21d": 265.69,
      "badness_index_21d": 504.32,
      "tightness_index_21d": 504.32,
      "activity_index_21d": 118.31,
      "hiring_sa_21d": 386.7,
      "wants_sa_21d": 718.6,
      "hiring_index_24hr": 51.91,
      "wants_index_24hr": 267.95,
      "badness_index_24hr": 516.21,
      "tightness_index_24hr": 516.21,
      "activity_index_24hr": 117.93,
      "hiring_sa_24hr": 373.2,
      "wants_sa_24hr": 718.4,
      "hiring_raw_21d": 388,
      "wants_raw_21d": 692,
      "hiring_raw_24hr": 219,
      "wants_raw_24hr": 368,
      "hiring_official": true,
      "wants_official": true,
      "badness_percentile_21d": 100,
      "badness_band_21d": "very bad",
      "seekers_per_employer_21d": 1.78,
      "badness_percentile_24hr": 100,
      "badness_band_24hr": "very bad",
      "seekers_per_employer_24hr": 1.68
    }
  ],
  "facts": {
    "definition": "Badness = 100 x (seasonally adjusted 'who wants to be hired' volume) / (seasonally adjusted 'who is hiring' volume). 100 = average over the index period; higher = worse for job seekers.",
    "latest": {
      "month": "2026-10",
      "badness_21d": 504.32,
      "badness_24hr": 516.21,
      "percentile": 100,
      "band": "very bad",
      "hiring_index_21d": 52.68,
      "wants_index_21d": 265.69,
      "hiring_raw_21d": 388,
      "wants_raw_21d": 692,
      "seekers_per_employer_21d": 1.78,
      "multiple_of_best_month": 31.8
    },
    "trailing_12m_mean_badness_21d": 300,
    "trailing_12m_mean_badness_24hr": 308,
    "eras": [
      {
        "label": "2014-16",
        "months": 30,
        "badness_21d": 68,
        "badness_24hr": 65,
        "hiring_index_21d": 101,
        "wants_index_21d": 63
      },
      {
        "label": "2017-19",
        "months": 36,
        "badness_21d": 49,
        "badness_24hr": 51,
        "hiring_index_21d": 130,
        "wants_index_21d": 61
      },
      {
        "label": "2020-22",
        "months": 36,
        "badness_21d": 92,
        "badness_24hr": 91,
        "hiring_index_21d": 108,
        "wants_index_21d": 94
      },
      {
        "label": "2023-24",
        "months": 24,
        "badness_21d": 214,
        "badness_24hr": 220,
        "hiring_index_21d": 73,
        "wants_index_21d": 154
      },
      {
        "label": "2025-26",
        "months": 22,
        "badness_21d": 259,
        "badness_24hr": 267,
        "hiring_index_21d": 65,
        "wants_index_21d": 165
      }
    ],
    "worst_months": [
      {
        "month": "2026-10",
        "badness_21d": 504.32,
        "badness_24hr": 516.21,
        "hiring_raw_21d": 388,
        "wants_raw_21d": 692,
        "seekers_per_employer_21d": 1.78
      },
      {
        "month": "2026-08",
        "badness_21d": 390.95,
        "badness_24hr": 451.15,
        "hiring_raw_21d": 368,
        "wants_raw_21d": 557,
        "seekers_per_employer_21d": 1.51
      },
      {
        "month": "2026-09",
        "badness_21d": 365.23,
        "badness_24hr": 326.63,
        "hiring_raw_21d": 389,
        "wants_raw_21d": 543,
        "seekers_per_employer_21d": 1.4
      },
      {
        "month": "2026-07",
        "badness_21d": 344.72,
        "badness_24hr": 381.45,
        "hiring_raw_21d": 416,
        "wants_raw_21d": 517,
        "seekers_per_employer_21d": 1.24
      },
      {
        "month": "2026-06",
        "badness_21d": 305.85,
        "badness_24hr": 337.74,
        "hiring_raw_21d": 489,
        "wants_raw_21d": 562,
        "seekers_per_employer_21d": 1.15
      },
      {
        "month": "2026-05",
        "badness_21d": 290.09,
        "badness_24hr": 291.84,
        "hiring_raw_21d": 541,
        "wants_raw_21d": 538,
        "seekers_per_employer_21d": 0.99
      },
      {
        "month": "2026-02",
        "badness_21d": 271.31,
        "badness_24hr": 254.78,
        "hiring_raw_21d": 590,
        "wants_raw_21d": 548,
        "seekers_per_employer_21d": 0.93
      },
      {
        "month": "2024-02",
        "badness_21d": 253.34,
        "badness_24hr": 253.23,
        "hiring_raw_21d": 535,
        "wants_raw_21d": 464,
        "seekers_per_employer_21d": 0.87
      }
    ],
    "best_months": [
      {
        "month": "2018-05",
        "badness_21d": 15.86,
        "badness_24hr": 16.43,
        "hiring_raw_21d": 1177,
        "wants_raw_21d": 64,
        "seekers_per_employer_21d": 0.05
      },
      {
        "month": "2017-12",
        "badness_21d": 17.49,
        "badness_24hr": 17.43,
        "hiring_raw_21d": 980,
        "wants_raw_21d": 64,
        "seekers_per_employer_21d": 0.07
      },
      {
        "month": "2018-03",
        "badness_21d": 17.5,
        "badness_24hr": 18.48,
        "hiring_raw_21d": 1174,
        "wants_raw_21d": 76,
        "seekers_per_employer_21d": 0.06
      },
      {
        "month": "2018-09",
        "badness_21d": 19.06,
        "badness_24hr": 17.26,
        "hiring_raw_21d": 906,
        "wants_raw_21d": 66,
        "seekers_per_employer_21d": 0.07
      },
      {
        "month": "2018-08",
        "badness_21d": 19.95,
        "badness_24hr": 21.8,
        "hiring_raw_21d": 1010,
        "wants_raw_21d": 78,
        "seekers_per_employer_21d": 0.08
      },
      {
        "month": "2018-02",
        "badness_21d": 20.05,
        "badness_24hr": 16.03,
        "hiring_raw_21d": 1049,
        "wants_raw_21d": 72,
        "seekers_per_employer_21d": 0.07
      },
      {
        "month": "2018-01",
        "badness_21d": 20.82,
        "badness_24hr": 18.77,
        "hiring_raw_21d": 892,
        "wants_raw_21d": 78,
        "seekers_per_employer_21d": 0.09
      },
      {
        "month": "2017-02",
        "badness_21d": 24.16,
        "badness_24hr": 15.62,
        "hiring_raw_21d": 1221,
        "wants_raw_21d": 101,
        "seekers_per_employer_21d": 0.08
      }
    ],
    "window_agreement": {
      "corr_badness_21d_vs_24hr": 0.9851,
      "median_rel_diff_pct": 8.46
    },
    "reading_examples": [
      "Best month on record: 2018-05 at 15.86 (64 seeker vs 1177 hiring comments in 21d).",
      "Latest month: 2026-10 at 504.32 (692 seeker vs 388 hiring comments in 21d) — 31.8x the best month.",
      "100 means exactly as bad as the 2014-2026 average; 200 means twice as bad; 50 means half as bad."
    ]
  },
  "validation": {
    "hiring_index": {
      "corr_21d_vs_24hr": 0.9805,
      "median_rel_diff_pct": 4.05,
      "max_rel_diff_pct": 41.79
    },
    "wants_index": {
      "corr_21d_vs_24hr": 0.9773,
      "median_rel_diff_pct": 6.97,
      "max_rel_diff_pct": 54.74
    },
    "badness_index": {
      "corr_21d_vs_24hr": 0.9851,
      "median_rel_diff_pct": 8.46,
      "max_rel_diff_pct": 48.5
    },
    "tightness_index": {
      "corr_21d_vs_24hr": 0.9851,
      "median_rel_diff_pct": 8.46,
      "max_rel_diff_pct": 48.5
    },
    "activity_index": {
      "corr_21d_vs_24hr": 0.9487,
      "median_rel_diff_pct": 5.37,
      "max_rel_diff_pct": 46.44
    },
    "seasonality_removed": {
      "note": "Max month-of-year deviation from a centered 2x12 MA, in percent. Lower = less residual seasonality. Raw uses all mature months; adjusted uses the index overlap period.",
      "hiring_raw_21d": 16.1,
      "hiring_adjusted_21d": 5.4,
      "wants_raw_21d": 15.3,
      "wants_adjusted_21d": 11.7
    },
    "window_disagreement_notes": [
      "Largest 21d-vs-24hr gaps occur in low-volume months where the 24hr count is a small denominator (e.g. 2016-01 wants had 31 comments in its first 24h) and in slow-start months (2024-09 hiring captured only 44% of its total in 24h vs 66% in August).",
      "These are window-measurement artifacts, not data errors: the 21d window is unaffected because it captures ~100% of final comments."
    ]
  },
  "partial_months": [
    {
      "month": "2026-11",
      "kind": "hiring",
      "id": 50338728,
      "age_hours": 7.1,
      "comments": 116,
      "comments_24hr": 116,
      "windows_complete": [],
      "note": "Posted 7.1h ago; even the 24hr window is incomplete, so this month is excluded from the index. The 24hr index becomes available 24h after posting, the 21d index after 21 days."
    },
    {
      "month": "2026-11",
      "kind": "wants_to_be_hired",
      "id": 50338726,
      "age_hours": 7.1,
      "comments": 243,
      "comments_24hr": 243,
      "windows_complete": [],
      "note": "Posted 7.1h ago; even the 24hr window is incomplete, so this month is excluded from the index. The 24hr index becomes available 24h after posting, the 21d index after 21 days."
    }
  ],
  "latest": {
    "month": "2026-10",
    "badness_21d": 504.32,
    "badness_24hr": 516.21,
    "badness_percentile_21d": 100,
    "badness_band_21d": "very bad",
    "seekers_per_employer_21d": 1.78,
    "tightness_21d": 504.32,
    "tightness_24hr": 516.21,
    "hiring_index_21d": 52.68,
    "wants_index_21d": 265.69,
    "activity_index_21d": 118.31
  }
}