An article from New York Times states that In mid-April, something strange started happening in the U.S. economy: Smaller companies — those with fewer than 500 workers — started rehiring workers more quickly than larger companies. During a typical crisis, large companies have important advantages, like more cash on hand and better digital operations. Smaller companies were apparently faring better during the lock-downs this spring due to government policy.
The economic-rescue plan that the federal government created in March included loans — from the Paycheck Protection Program, or P.P.P. — meant to reduce job losses, mostly at companies with fewer than 500 workers. If the companies maintained their employment levels, the government would ultimately forgive the loans.
In all, the P.P.P. saved between 1.5 million and 3.5 million jobs, according to a new study by researchers at M.I.T., the Federal Reserve and the ADP Research Institute.
The study adds to the mounting evidence about one kind of economic stimulus that seems to have worked especially well during the pandemic: direct subsidies to businesses, to keep people employed.
You can read the whole article at: https://www.nytimes.com/2020/07/22/briefing/paycheck-protection-program-houston-chicago-your-wednesday-briefing.html
No doubt we are living unprecedented times. Our economy is going through a fragile and uncertain moment and you might not be able to foresee how your business will behave in the next few weeks or months. These circumstances have burden all kinds of companies, big and small. Building a partnership with a solid Staffing and People Management Agency can surely help you address some immediate issues you might be dealing with.
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