Table 1

Summary Statistics

VariableMeanSD
Panel A: Unit of Observation: Employment Spell
Age   3815.2
Female    0.5 0.5
White    0.77 0.42
Hispanic    0.14 0.34
< High school    0.14 0.34
High school diploma    0.29 0.45
Some college    0.32 0.47
College degree+    0.25 0.43
Tenure (quarters) 10.110.7
Log(quarterly earnings)    8.5 1
Separation rate    0.18 0.15
Hiring rate    0.17 0.14
Recruited from employment    0.64 0.48
Observations260,939,000
Panel B: Unit of Observation: Firm–Year–Quarter
Firm hires per quarter   493 1592
Firm employment  296210772
Employment growth rate   1.01  0.15
Observations11,137,000