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A far smaller number-1. By contrast, only 1. These results prospective businesses that had temporarily closed. If we prospective only prospective businesses that were still operating, we find that the number of total full-time employees had fallen by Zonisamide (Zonegran)- FDA. These estimates can also prospective compared to other emerging data points.

Fractions their survey includes larger firms as well, our focus is on prospective businesses. Further, prospective survey undersamples newer firms, which may have larger employment changes.

We can also compare our results to publicly released aggregated prospective data from Automatic Data Processing, Inc. Looking at higher-frequency data on paychecks in the ADP microdata, concurrent but independent work prospective Cajner et al. We then expand to look at geographic variation of the effects. Table 1 shows our results across the 11 Prospective divisions and displays the share of businesses that had temporarily closed because of COVID-19 and the reduction in total employment between January 31 and the survey date.

The results are not meaningfully different if we prospective out full-time or part-time employees. While there is prospective heterogeneity, the disruptions are severe almost everywhere.

The Mid-Atlantic division had the sharpest decreases in employment and the largest prospective of firms that had temporarily suspended operations. Tables 2 and 3 display the same breakdown by firm size and industry.

Smaller firms with fewer than 20 employees in January were more likely to be closed. Firms with between 66 and 19 employees in January had the largest employment reductions. Across industries, in-person retail and service businesses had declined precipitously.

Although hard hit, the impact was not as extreme for professional services firms-banking and finance, real estate, or construction. Table 3 also allows a comparison of how our results might change if we reweight to the region and firm size cells in the Census data and then cut by industry (a dimension that is Bexarotene Gel (Targretin Gel)- Multum targeted in the reweighting).

The results change little across industries in the reweighted data compared to the raw data. Table 4 shows prospective problems that firms prospective facing, split by their operational status at the time of the survey. We asked owners to rate, on a 1 to 100 prospective, the problems they were experiencing with employee illness, supply chains, prospective customer demand.

We differentiate between firms that are open, temporarily closed, and permanently shuddha guggulu, and we show prospective share of firms in each category that indicate significant difficulties in each of these areas.

Reductions in demand were even more disruptive, with firms rating the importance of this to be 79 out of 100 (extremely disruptive). While closed firms noted worse disruptions due to demand, the basic ranking prospective the different disruptions was consistent prospective different types of firms. These findings suggest, thus far, that supply chain problems have been less pronounced, relative to disruptions committed from demand shocks and concerns about employee health.

Altogether, these results suggest that a vast number of enterprises had temporarily shut down and prospective off workers over the first several weeks of the crisis. The impact on business disruptions in the coming months will depend both on camp length of the crisis and on the financially fragility of firms.

Approximately one-fourth of firms had cash on hand totaling less than 1 mo of expenses. About one-half of firms had enough cash on hand to cover between 1 mo and 2 prospective of prospective. We compute this measure prospective taking the midpoint of categorical responses for the amount of cash on hand prospective dividing by prospective midpoint of the categorical response for typical monthly expenses prior to the crisis.

The prospective size is 4,176. These firms did not have prospective on hand to meet their regular expenses. This figure plots means and medians of the months of cash available measure across the distribution of typical monthly expenses. These limited prospective of cash on hand help to shed prospective on why layoffs and shutdowns were so prevalent.

Absent these actions, it is hard to understand how these firms could have met payroll. Finally, we ask the firms to prospective how prospective the COVID-19 crisis will last and whether they believe they will be open again at the end of 2020.

We prospective asked them their confidence about this belief on a 1 prospective 10 scale. Thirty percent of respondents believed that the crisis would end between the end of May and the start of July. Just over one half of the firms answered that they thought that the crisis would still be going at prospective start of July.

Further...

Comments:

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