Mary: This is Mary Walden with economist MW, welcoming you to the economic perspective. Today’s program looks at divergent recoveries of companies. Mike, the pandemic has impacted most everyone and everything. But these impacts appear not to have been equal. Is one area of difference based on the size of company?
Mike: Summary Answer
- During the downturn, small companies were hurt much more than big companies
- Companies with under 500 employees suffered almost a 20% reduction in jobs
- In contrast, companies with 500 or more employees had only a 12% drop
- During the rebound, small companies have also taken longer to come back
- Big reason: large companies have deeper reserves
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.