Jobs are disappearing, unemployment claims are surging, the pandemic is raging. In the midst of this turmoil, the Census Bureau's Small Business Pulse Survey is going on hiatus. Following the release of data collected during the week of January 4 through January 10, the survey is taking a pause. Check back in February for information about future releases of the survey, the Census Bureau says.
The Small Business Pulse Survey has been measuring the impact of the coronavirus pandemic on the nation's small businesses. The bureau fielded the first survey in late April (April 26 through May 2) and continued collecting data weekly through June. The pandemic was supposed to be over by then. It wasn't. Phase 2 of the Small Business Pulse Survey began in early August and ended in mid-October. The pandemic still wasn't over. Phase 3 of the Small Business Pulse Survey began in mid-November and ended on January 10. "The data collection period for the Small Business Pulse Survey is now closed," reports the Census Bureau on the survey's web page.
Here are some of the findings from the last week of the survey, January 4-10...
- 75 percent of small businesses say the coronavirus pandemic has had a moderate to large negative effect on them, including 90 percent of businesses in accommodation and food service.
- 40 percent of small businesses say their revenues have fallen in the past week, including 56 percent of those in accommodation and food service.
- 12 percent of small businesses say they have reduced their paid employees in the past week, including 27 percent of those in accommodation and food service.
- 55 percent of small businesses say their business operations will not return to normal for more than six months, will never return to normal, or the business has permanently closed. Among businesses in accommodation and food service, 77 percent report this level of pessimism.
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