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COVID-19: monitoring the impact of the pandemic on enterprises
Fast and Exceptional Enterprise Survey - COVID-19
COVID-19: monitoring the impact of the pandemic on enterprises - 1st fortnight, July 2020
29 July 2020

Summary

In the first fortnight of July, 99% of the enterprises were in operation (+3 p.p. than in the previous fortnight and +16 p.p. than in April). In the Accommodation and food services sector, this percentage was lower (93%, representing an increase of 11 p.p. compared to the previous fortnight).
Given the situation without pandemic, 58% of the enterprises reported a reduction in turnover in the first fortnight of July (66% in the previous fortnight and 80% in April). In Accommodation and food services and Transportation and storage sectors, this percentage was higher (88% and 76%, respectively).
In the first fortnight of July, between 23% and 31% of the respondent enterprises had already benefited from the government support measures, including the simplified layoff, assessing them as very important for their liquidity situation.
The liquidity situation of the enterprises improved compared to April. In the first fortnight of July, 59% of the enterprises reported that they can keep operate for more than six months without additional support liquidity measures (compared to 26% in April). Only 15% reported that they are unable to keep operating for more than two months (compared with 47% in the week of 20 to 24 April).
In the first fortnight of July, 24% of the enterprises recorded a reduction in the number of persons employed effectively working compared to the situation that could be expected without the pandemic (36% in the previous fortnight and 59% in April). Accommodation and food services was the sector where most enterprises reported a reduction in persons employed in the first fortnight of July (58%, -6 p.p. than in the previous fortnight).
This edition included questions related with the observed variation in the employment since the beginning of the pandemic and the expectations for the evolution of jobs until the end of 2020. 17% of the enterprises reported have reduced the number of jobs since the beginning of the COVID-19 pandemic and 76% had no impact on the total number of persons employed. The vast majority of enterprises (83%) plan to maintain their jobs until the end of the year, while among the rest, there is a relative balance between those that envisage increases and reductions.
The enterprises that benefited from the simplified layoff were asked how much the employment would have changed in the absence of the recourse to the measure. 77% of the enterprises would have reduced the number of persons employed since the beginning of the pandemic in the absence of the use of the layoff, which compares with 30% of the enterprises that reported effective reduction of employment in that period. When asked about the options related to the new measures to support employment, 38% of the enterprises intend to resort to the extraordinary incentive to normalize the activity following the end of the simplified layoff in August, while 30% should choose to keep the use of simplified layoff or resort to support for progressive recovery.


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