Descriptive statistics
| . | Downturn . | No Downturn . | ||||
|---|---|---|---|---|---|---|
| . | . | Untreateda . | . | Untreateda . | ||
| . | Treated . | Unweighted . | Weighted . | Treated . | Unweighted . | Weighted . |
| Individual Characteristics | ||||||
| Tenure > 2.5 years | 0.672 | 0.790*** | 0.671 | 0.714 | 0.814*** | 0.716 |
| Wage quarter – 1 | 49.493 | 53.314*** | 49.439 | 47.867 | 52.663*** | 47.810 |
| Wage quarter – 7 | 0.971 | 0.982* | 0.971 | 0.978 | 0.983 | 0.980 |
| Wage quarter – 12 | 0.876 | 0.912*** | 0.876 | 0.904 | 0.922 | 0.904 |
| Firm Variables | ||||||
| Wage 25th percentile | 39.504 | 43.035*** | 39.445 | 41.195 | 43.332** | 41.135 |
| Wage median | 51.517 | 56.191*** | 51.462 | 53.638 | 56.846*** | 53.600 |
| Wage 75th percentile | 63.989 | 70.18*** | 63.941 | 67.379 | 71.186*** | 67.377 |
| Share of employees < age 30 | 0.350 | 0.342 | 0.350 | 0.354 | 0.340* | 0.354 |
| Share of employees ≥ 30 and < 50 | 0.487 | 0.479 | 0.486 | 0.484 | 0.484 | 0.484 |
| Share of employees ≥ age 50 | 0.163 | 0.179*** | 0.163 | 0.162 | 0.176*** | 0.163 |
| Share of female workers | 0.582 | 0.575 | 0.583 | 0.580 | 0.574 | 0.581 |
| Share low qualified | 0.211 | 0.226† | 0.211 | 0.215 | 0.230† | 0.215 |
| Firm size 4–10 employees | 0.237 | 0.137*** | 0.238 | 0.243 | 0.132*** | 0.242 |
| Firm size 11–50 employees | 0.259 | 0.194*** | 0.259 | 0.255 | 0.199*** | 0.256 |
| Firm size 51–250 employees | 0.249 | 0.247 | 0.249 | 0.238 | 0.254 | 0.237 |
| Firm size 251–1,999 employees | 0.255 | 0.423*** | 0.253 | 0.264 | 0.415*** | 0.265 |
| Number of Observations | 643 | 60,066 | 614 | 53,735 | ||
| . | Downturn . | No Downturn . | ||||
|---|---|---|---|---|---|---|
| . | . | Untreateda . | . | Untreateda . | ||
| . | Treated . | Unweighted . | Weighted . | Treated . | Unweighted . | Weighted . |
| Individual Characteristics | ||||||
| Tenure > 2.5 years | 0.672 | 0.790*** | 0.671 | 0.714 | 0.814*** | 0.716 |
| Wage quarter – 1 | 49.493 | 53.314*** | 49.439 | 47.867 | 52.663*** | 47.810 |
| Wage quarter – 7 | 0.971 | 0.982* | 0.971 | 0.978 | 0.983 | 0.980 |
| Wage quarter – 12 | 0.876 | 0.912*** | 0.876 | 0.904 | 0.922 | 0.904 |
| Firm Variables | ||||||
| Wage 25th percentile | 39.504 | 43.035*** | 39.445 | 41.195 | 43.332** | 41.135 |
| Wage median | 51.517 | 56.191*** | 51.462 | 53.638 | 56.846*** | 53.600 |
| Wage 75th percentile | 63.989 | 70.18*** | 63.941 | 67.379 | 71.186*** | 67.377 |
| Share of employees < age 30 | 0.350 | 0.342 | 0.350 | 0.354 | 0.340* | 0.354 |
| Share of employees ≥ 30 and < 50 | 0.487 | 0.479 | 0.486 | 0.484 | 0.484 | 0.484 |
| Share of employees ≥ age 50 | 0.163 | 0.179*** | 0.163 | 0.162 | 0.176*** | 0.163 |
| Share of female workers | 0.582 | 0.575 | 0.583 | 0.580 | 0.574 | 0.581 |
| Share low qualified | 0.211 | 0.226† | 0.211 | 0.215 | 0.230† | 0.215 |
| Firm size 4–10 employees | 0.237 | 0.137*** | 0.238 | 0.243 | 0.132*** | 0.242 |
| Firm size 11–50 employees | 0.259 | 0.194*** | 0.259 | 0.255 | 0.199*** | 0.256 |
| Firm size 51–250 employees | 0.249 | 0.247 | 0.249 | 0.238 | 0.254 | 0.237 |
| Firm size 251–1,999 employees | 0.255 | 0.423*** | 0.253 | 0.264 | 0.415*** | 0.265 |
| Number of Observations | 643 | 60,066 | 614 | 53,735 | ||
Notes: The table displays the means of selected control variables, separately for treated and untreated and by downturn and upturn. The individual characteristics are measured in the corresponding reference quarter, and the firm-level characteristics are measured in the calendar year before the reference quarter. For the control group (untreated), the unweighted and the weighted means are presented. The weights (single weighting) are explained in the text. Table S1 in Online Resource 1 contains the means of all control variables used in the analysis. The estimations from the logit model for constructing the weights are reported in Table S5 in Online Resource 1.
aSignificance of differences (t test): †p ≤ .10; *p ≤ .05; **p ≤ .01; ***p ≤ .001