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

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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.

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Yelp

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

Yelp And markets are at all time high!

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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.

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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

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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....

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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.

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