The Effects of the Coronavirus on Hours of Work in Small Businesses, from Yale's Tobin Center for Economic Policy, shows the pandemic's dramatic and ongoing impact on small businesses.
The study uses data from Homebase, which provides scheduling and time tracking tools for small businesses, to measure the change in overall hours worked by small business employees.
As the study chart below shows (click to enlarge), average hours worked in U.S. small businesses plummeted by 60% in March when the lockdowns began.
Hours worked since then have recovered, but as of early June were still 35.9% below pre-pandemic levels.
Not surprisingly, the largest drops in hours worked were in firms in the leisure and entertainment, beauty and personal care, and bars and restaurant industries. Also, the Tri-State New York region, which was the center of the early pandemic, was hit harder than the country overall.
This study is another example of cloud-based, digital data being used instead of traditional survey methods - something we are doing with increasing frequency.
We're not suggesting that traditional methods (surveys, interviews, focus groups, etc.) will disappear.
But there are many advantages to using digital data - the speed of use, the breadth and depth of the data, accuracy, etc. - make digital data extremely attractive for many research applications.
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