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In this study, the present a statistically valid typology of high-growth firms (HGFs), also known as gazelles, to determine if payroll and job growth patterns differ between groups or clusters. Cluster–discriminant analysis was conducted on a cohort of 26,104 HGFs s in Ohio, using data from the Quarterly Census of Employment and Wages from 2010 to 2015. Only 1.2% of all Ohio’s firms can be classified as high growth. The larger herd of gazelles grows consistently, while the other, much smaller pack experiences short, intense growth spurts. Roughly 30% of the two gazelle clusters (Consistent High Growth and Volatile High Growth) are in the information service, financial service, and professional and business service industries, compared with 18% in the low- and slow-growth cluster. The nongazelle HGF cluster has proportionately more businesses in manufacturing and the leisure and hospitality industries than the gazelle clusters.

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Worker Voices is a Federal Reserve System research effort that engaged workers in low-wage roles and nondegree job seekers in focus groups to understand their experiences of the economy during the recovery. The research enabled the workers engaged in this process to answer questions about their experiences with the labor market: What were their experiences with employment during the onset of the pandemic and the economic recovery? Do these workers believe they are benefiting from strong labor market conditions and experiencing greater economic stability? What barriers persist and prevent them from returning and remaining in the labor market? How are they navigating recent labor market conditions, and what does that tell us about what they will prioritize going forward?

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