Titelaufnahme

Titel
The Impact of Covid-19 on small business owners: evidence of early-stage losses from the April 2020 current population survey / Robert Fairlie (University of California, Santa Cruz, Stanford University, NBER and IZA) ; IZA Institute of Labor Economics
VerfasserFairlie, Robert W.
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, May 2020
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (21 Seiten) : Diagramme
SerieDiscussion paper ; no. 13311
URLVolltext
URNurn:nbn:de:hbz:5:2-838794 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
The Impact of Covid-19 on small business owners: evidence of early-stage losses from the April 2020 current population survey [0.2 mb]
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Zusammenfassung

Social distancing restrictions and demand shifts from COVID-19 are expected to shutter many small businesses, but there is very little early evidence on impacts. This paper provides the first analysis of impacts of the pandemic on the number of active small businesses in the United States using nationally representative data from the April 2020 CPS - the first month fully capturing early effects from the pandemic. The number of active business owners in the United States plummeted by 3.3 million or 22 percent over the crucial two-month window from February to April 2020. The drop in business owners was the largest on record, and losses were felt across nearly all industries and even for incorporated businesses. African-American businesses were hit especially hard experiencing a 41 percent drop. Latinx business owners fell by 32 percent, and Asian business owners dropped by 26 percent. Simulations indicate that industry compositions partly placed these groups at a higher risk of losses. Immigrant business owners experienced substantial losses of 36 percent. Female-owned businesses were also disproportionately hit by 25 percent. These findings of early-stage losses to small businesses have important policy implications and may portend longer-term ramifications for job losses and economic inequality.

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 Das Medienwerk ist im Rahmen des deutschen Urheberrechts nutzbar.