Whom Do High-Growth Firms Hire?

We study employment and new hires among high-growth firms (HGFs) in the Swedish knowledge-intensive sectors 1999–2002. Using matched employer–employee data, we find that HGFs are more likely to employ young people, poorly educated workers, immigrants, and individuals who experienced longer unemployment periods. However, these patterns seem contingent on the stage of the firm’s evolution. HGFs that have already realized some rapid growth are more likely to hire individuals from other firms, even though immigrants are still overrepresented among new hires. In the case of both HGF employees and HGF new hires, employment opportunities in HGFs are provided by young and small firms