Table 2 Full sample: Mean daily wages and wage differences over time for subsidized workers  (S) and unsubsidized workers  (U) and wage differences  \( (\Delta ) \) before and after matching (standard deviations in parentheses)

1a)  Daily wage directly after taking up the job

Before

61.7

66.0

−4.3^∗∗

49.4

54.1

−4.7^∗∗

50.9

53.0

−2.0^∗∗

39.2

40.7

−1.5^∗∗

(18.7)

(23.1)

(0.4)

(18.6)

(24.4)

(0.8)

(13.1)

(16.0)

(0.3)

(13.4)

(16.2)

(0.4)

After

61.8

62.1

−0.2

49.6

50.1

−0.5

51.0

52.1

−1.2^∗∗

39.3

40.0

−0.6

(18.7)

(22.4)

(0.4)

(18.5)

(21.9)

(0.7)

(13.2)

(15.4)

(0.3)

(13.6)

(15.9)

(0.5)

1b)  Average of daily wages, conditional on working, during the  3.5  years after taking up the job

Before

63.6

67.6

−4.1^∗∗

50.8

56.2

−5.3^∗∗

52.4

54.1

−1.7^∗∗

40.1

41.4

−1.3^∗∗

(19.6)

(22.8)

(0.4)

(19.7)

(25.5)

(0.8)

(14.2)

(15.9)

(0.3)

(14.6)

(17.0)

(0.4)

After

63.8

63.9

−0.1

51.2

51.9

−0.7

52.5

53.3

−0.8^∗∗

40.3

40.8

−0.5

(19.6)

(22.3)

(0.4)

(19.8)

(22.8)

(0.7)

(14.3)

(15.9)

(0.3)

(14.7)

(16.5)

(0.5)

1c)  Average of daily wages during the  3.5  years after taking up the job

Before

44.7

47.1

−2.4^∗∗

36.3

39.9

−3.6^∗∗

38.2

36.1

2.1^∗∗

29.4

27.1

2.3^∗∗

(27.9)

(30.0)

(0.5)

(24.5)

(29.4)

(0.9)

(20.4)

(21.7)

(0.4)

(18.2)

(20.3)

(0.5)

After

45.1

42.1

3.1^∗∗

37.0

35.3

1.7^∗

38.7

34.8

3.9^∗∗

29.9

26.6

3.3^∗∗

(27.8)

(29.6)

(0.5)

(24.5)

(26.7)

(0.9)

(20.3)

(22.3)

(0.4)

(18.1)

(20.2)

(0.6)

2a)  Difference  1a) and latest daily wage observed in the  3  years preceding the job

Before

4.6

0.7

3.9^∗∗

4.8

2.7

2.2^∗∗

1.9

0.9

1.1^∗∗

5.8

3.1

2.7^∗∗

(28.1)

(24.3)

(0.4)

(25.2)

(25.0)

(0.8)

(21.9)

(18.5)

(0.3)

(21.5)

(18.8)

(0.5)

After

4.5

3.7

0.8

4.6

5.0

−0.4

1.5

3.0

−1.5^∗∗

5.4

6.2

−0.8

(28.0)

(27.8)

(0.5)

(25.3)

(26.7)

(0.9)

(21.7)

(20.8)

(0.4)

(21.1)

(21.8)

(0.6)

2b)  Difference  1b) and average of daily wages, conditional on working, during the  3  preceding years

Before

6.2

3.2

2.9^∗∗

6.9

6.3

0.6

4.2

3.3

0.9^∗∗

6.9

4.6

2.3^∗∗

(26.1)

(21.3)

(0.4)

(24.3)

(23.6)

(0.7)

(19.2)

(16.0)

(0.3)

(20.7)

(18.0)

(0.5)

After

6.1

5.8

0.3

6.9

7.5

−0.6

3.9

5.0

−1.1^∗∗

6.4

7.5

−1.1

(26.0)

(25.6)

(0.5)

(24.3)

(25.6)

(0.8)

(18.9)

(19.2)

(0.3)

(20.3)

(21.0)

(0.6)

2c)  Difference  1c) and average of daily wages during the  3  years preceding the job

Before

11.7

3.1

8.6^∗∗

11.2

5.6

5.7^∗∗

9.4

2.5

6.9^∗∗

12.4

5.0

7.4^∗∗

(29.1)

(28.6)

(0.5)

(26.1)

(28.1)

(0.9)

(21.7)

(21.4)

(0.4)

(20.3)

(20.1)

(0.5)

After

11.8

8.6

3.2^∗∗

11.5

9.1

2.3^∗∗

9.4

5.7

3.7^∗∗

12.1

9.3

2.7^∗∗

(29.0)

(29.5)

(0.6)

(26.1)

(27.0)

(0.9)

(21.6)

(22.6)

(0.4)

(20.3)

(21.3)

(0.6)

Observations

MSB        

Observations

MSB        

Observations

MSB    

Observations

MSB  

Before

3,130

87,119

12.4

1,039

31,201

12.2

3,969

37,639

9.6

1,672

10,866

11.6

After

3,060

86,914

0.8

998

30,488

1.0

3,823

37,003

0.5

1,522

9,926

1.2