COVID continues to impact businesses

Posted on September 17, 2020
Sean Craig is a financial advisor with Investment Planners in Bloomington. (WJBC file photo)

 

By Neil Doyle

BLOOMINGTON – New data from Yelp shows many businesses and restaurants have been impacted by the coronavirus pandemic.

Sean Craig, a financial advisor with Investment Planners in Bloomington, said the data indicates permanent closures have reached 97,966.

“Yelp is noticing that more businesses are closing and right now about 60% of those will not reopen,” Craig told WJBC’s Marc Strauss.

As of Aug. 31, 163,735 businesses have indicated on Yelp that they have closed, a 23% increase since mid-July, according to CNBC.

Federal Reserve Chair Jerome Powell earlier this week urged Congress to pass a second coronavirus relief package. Powell said they should do so quickly because the economy is “highly uncertain.”

Neil Doyle can be reached at [email protected]

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