Table 5 Single threshold model - industry employment to population
From: Using state level employment thresholds to explain Okun’s Law
Baseline | Total | Gov’t | Financial | Services | Const. | Natural | Manuf. | Education | Leisure | Trade | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Output Gap | -0.349*** | ||||||||||
(-80.82) | |||||||||||
qi,t≤ γ | -0.357*** | -0.383*** | -0.255*** | -0.303*** | -0.596*** | -0.494*** | -0.281*** | -0.333*** | -0.380*** | -0.359*** | |
(-80.21) | (-83.23) | (-29.39) | (-44.49) | (-50.43) | (-64.39) | (-48.30) | (-69.74) | (-78.70) | (-74.71) | ||
q it > γ | -0.229*** | -0.190*** | -0.378*** | -0.379*** | -0.315*** | -0.291*** | -0.424*** | -0.418*** | -0.246*** | -0.306*** | |
(-11.99) | (-18.84) | (-78.17) | (-69.11) | (-72.00) | (-60.02) | (-69.89) | (-42.68) | (-27.62) | (-28.09) | ||
Constant | 0.0523*** | 0.0522*** | 0.0523*** | 0.0523*** | 0.0523*** | 0.0519*** | 0.0521*** | 0.0523*** | 0.0522*** | 0.0522*** | 0.0522*** |
(324.91) | (323.77) | (335.98) | (330.73) | (327.69) | (337.88) | (341.42) | (335.44) | (326.31) | (330.23) | (320.63) | |
R 2 | 0.598 | 0.601 | 0.623 | 0.611 | 0.604 | 0.638 | 0.638 | 0.622 | 0.603 | 0.613 | 0.599 |
N | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 | 4450 |
F-stat | 41.76 | 295.8 | 155.1 | 75.22 | 475.2 | 475.0 | 281.7 | 60.30 | 174.4 | 19.10 | |
p-value | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
γ | 49.96 | 8.801 | 1.944 | 4.856 | 1.647 | 0.115 | 3.551 | 6.653 | 5.346 | 9.033 | |
Percentile | 0.894 | 0.807 | 0.140 | 0.533 | 0.108 | 0.296 | 0.231 | 0.785 | 0.899 | 0.528 |