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This study uses SafeGraph data to examine small business dynamics and employment in relation to COVID-19 in an attempt to understand how small businesses have been impacted in comparison to larger corporations. Presenter André Kurmann points out that the pandemic has shown the need for timely, high-frequency estimates that can inform policy decisions, which can only be made possible from rich analytics.
When examining the employment change in small businesses, they see that COVID-19 and related closures led to significant unemployment. However, we also see that as time goes on and recovery begins, businesses reopen and new businesses start up, supplanting a significant number of lost businesses. While the correlation does not show a full recovery, it shows a trend towards recovering employment decreases, and that new openings help drive recovery significantly.
This study uses SafeGraph data to examine small business dynamics and employment in relation to COVID-19 in an attempt to understand how small businesses have been impacted in comparison to larger corporations. Presenter André Kurmann points out that the pandemic has shown the need for timely, high-frequency estimates that can inform policy decisions, which can only be made possible from rich analytics.
When examining the employment change in small businesses, they see that COVID-19 and related closures led to significant unemployment. However, we also see that as time goes on and recovery begins, businesses reopen and new businesses start up, supplanting a significant number of lost businesses. While the correlation does not show a full recovery, it shows a trend towards recovering employment decreases, and that new openings help drive recovery significantly.
This study uses SafeGraph data to examine small business dynamics and employment in relation to COVID-19 in an attempt to understand how small businesses have been impacted in comparison to larger corporations. Presenter André Kurmann points out that the pandemic has shown the need for timely, high-frequency estimates that can inform policy decisions, which can only be made possible from rich analytics.
When examining the employment change in small businesses, they see that COVID-19 and related closures led to significant unemployment. However, we also see that as time goes on and recovery begins, businesses reopen and new businesses start up, supplanting a significant number of lost businesses. While the correlation does not show a full recovery, it shows a trend towards recovering employment decreases, and that new openings help drive recovery significantly.