Jobs Report: March 2020

Due to the government’s shut down from the SARS-Covid-2(Covid-19), many businesses are feeling the economic impact of these measures. This policy, to minimize contact and maintain a certain amount of space between individuals( social distancing), alters the way businesses can operate.
If, for example, a business has a large amount of cash reserves, it maybe able to maintain its operations, meet payroll for its employees, and push through this shutdown period. However, for many small businesses, that is not the case. Since payroll is the largest expense to a business, employees are let go. These employees now are unemployed, now there means to generate income is via unemployment insurance benefits. What about the business owner? What is his fate? He(she) will be living off of the capital accumulated; assuming there is capital accumulated.

The graphs listed below show the impact of the unemployment statistics(some) for March 2020. Service industry(restaurant, bar, hospitality, and travel) are impacted the most by the Covid-19 policy measures. It is safe to assume this sector is also one of the highest filers of unemployment insurance. At this point, I do not have any data to support that claim, as it is simply a hypothesis. Nonetheless, hopefully many businesses can re open soon, and begin earning handsome profits.

Leisure and Hospitality Comprise the largest percentage of workers impacted by the shut down.