Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent

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More than 32,000 restaurants have closed during the pandemic, and 61% of those closures are permanent, according to Yelp data.

marks six months since March 1, the date that Yelp considers to be the beginning of the business crisis.

"Consumers still need these services," Norman said. "Through the rise of virtual consultations, and contactless or socially distanced services, these businesses have been particularly resilient during this time." Bars and nightlife venues have also seen a large impact from the pandemic, as a business that can't adapt as easily to outdoor dining or takeout. Despite being a sector that is six times smaller than restaurants, 6,451 venues have closed. The rate of permanent closures has increased 10% since July, now sitting at 54%.

Different states are also facing varying degrees of closures, and perhaps unsurprisingly, Yelp sees a correlation between states with a high number of closures and states with a high unemployment rate. Looking at closures per 1,000 for each state, Hawaii has been hit the hardest, followed by California, Nevada, Arizona and Washington state.

 

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Yelp “Tsunami” of hotel closures is coming, experts warn - Los Angeles Times

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Yelp No

Yelp And it’s all Trumps fault. He owns this mess of an economy. Why should anyone be surprised that he ruined us just like all of his other bankrupt businesses

Yelp If the owners bought BTC , instead of opening restaurants, they would already be millionaires

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Yelp More like they took the PPP money stole it and close

Yelp CoronavirusPandemic ...

Yelp They all ran to get a judge who will undo women’s rights but they couldn’t release aid and help these businesses and families

Yelp And it was all unconstitutional! CLASS ACTION LAWSUITS!

Yelp Can you talk about where?

That's scary.

Yelp If accurate, these data will show up in rising numbers of permanently furloughed workers. Those numbers rose by 2.1 million to 3.4 million between February and August.

Yelp And how many are closed from rioters and looters In dem run state and city?

Yelp And democrats want to extend that. Never forget the madness.

Yelp

Yelp AndrewYang you were and are right! JoeBiden KamalaHarris pass UBI ASAP!

Yelp Donald Trump has destroyed the lives of millions of Americans.

Yelp So much for the American dream

Yelp Well, there must be too much inflation in 'E's to use them properly. Can't even buy a vowel properly these days.

Yelp Politicians ruined their countries over a disease that kills less than Malaria if well handled.Why shut down ENTIRE country when we know the EXACT vulnerable segments of society? A global scam primarily condoned by global elites coz it cld b manipulated to change US leadership

Yelp OpenLearning=ASX$OLL Main website to start your own Educated research❤

Yelp Well, there must be too much inflation in 'E's to use them properly.

Yelp OpenLearning=ASX$OLL Can help save our economy with their Quality and Accredited Micro Credentials. By retraining our out of work workforce faster and way cheaper, Governments are starting to put support behind this invention of the future in learning.

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Yelp Motley fool article on OpenLearning=ASX$OLL🚀

Yelp Look at the current chart's for OpenLearning=ASX$OLL🚀 🤔OpenLearning has broken out into a new higher trend and looks to be going up, with strong growth and support that has not been in the past.

Yelp lol and Biden said he would shut down again

Yelp We are suffering.

Yelp That is terrible

Yelp Anything to win an election.

Yelp China made coronavirus. Sue xi jinping

Yelp SHOP LOCAL people spend money in your community and that money stays in your community

Yelp And markets are at all time high!

Yelp Who needs restuarants when we are feasting on stonks

Yelp God bless us 🙏🏿

Yelp Democrats do not want them to reopen so as to argue that the unemployment rate is high and cast Trump in a negative light. They are using you. Vote wisely, vote out all Democrats

Yelp There is always a high rate of restaurant closures. However usually those locations are reopened by new entrepreneurial restaurant owners.

Yelp Amazon the new skynet

Yelp ...and the stock market is at an all-time high? Can't help to think of how loud that bubble burst is going to be. HopeImWrong

Yelp Pathetic Trumpeters (i. e., Trump Peters) and those who claim they can’t wear a mask because of PTSD are willing to stress or panic Americans with Trump‘s Pandemic PTSD.

kavn Yelp Then we should institute a wealth tax and defund the military to pay for a UBI or Green jobs

Yelp

Yelp Thanks pols

Yelp This could have all been predicted last January and warded off with a plan. Instead Trump lied and filled peoples' heads with false hopes. He's still lying and this will never end with him in charge.

Yelp All that winning by realDonaldTrump. Now imagine having only 372 deaths out of 50 million citizens like South Korea?

Yelp Greatest economy ever

Yelp Thanks blue state governors!

Yelp Thanks to Democrats and their inability to consider anyone but themselves

Yelp Thank you media a Dem congressionals

Yelp This must be bullish and we should be buying stocks

Yelp

Yelp Eliminating small businesses daily for what? Think people think!

Yelp Beh !!

Yelp Well, there are a lot of atrocious restaurants out there....

Yelp I remember when Trump said there would be so much winning we would get sick of saying we are winning.

Yelp All for the sake of an election! Nice job Politicians!You F up a lot of family’s live over this bs. Once the election is over you will never hear of covid again. If the mask works why the 6’ if 6’ works why t vaccine total bs smh I could continue, prayers to those suffering!

Yelp All because of a virus with a 99.5% survival rate.

Yelp A couple things. One, Americans eat out too much. Two, there were a lot of TERRIBLE restaurants out there because of point one.

Yelp Sweden didn’t shut anything down and has better numbers than most blue states

Yelp Interpretation: The recovery will take a while.

Yelp Should have had 6 to 8 months of saving

Yelp YES. That's Reality. 30+Million unemployed & GROWING and a Continuing increase in Permanent Business Closures due to GOV Ordered Shutdowns. Trump needs to acknowledge the REAL Stats and STOP Propagating that we are getting stronger. FACT is we are MUCH Weaker now then in July/Aug

Yelp When you have the worst Policy Error ever aka the Shutdown you have all sorts of collateral damage 🙃

Yelp True business individuals usually no how to save in time of crisis. Most of these business weren’t meant to be if they couldn’t stay closed for 6 months.

Yelp Mostly in Blue states that refused to allow these businesses to reopen.

Yelp Reality is setting in. Printing money isn’t going to solve this.

Yelp TrumpRecession

Yelp This will have an interesting impact, as people were spending more $$ on eating out than groceries before the pandemic.

Yelp This was predictable. This is the cost of lockdowns and fear mongering.

Yelp Thanks democrats.

Yelp The greatest economy ever.

Yelp Fire jim Cramer. FireCramer

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