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Default comparing lists

I want to compare 2 lists and extract the differences to a third, and
indicate why they are different.
I have a list of 300+ current employees, but current as of a few months ago.
Every few months HR sends a current list as of right now.
Is it possible to populate a third sheet by comparing the 2 lists, and
having employees on the new list only marked as a new hire, and those on the
old list only marked as terminated?
I can do it on each sheet separately, but I am trying to be elegant.

Thanks,
Richard
 
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