The healthcare industry was the hardest hit by supply shortages, new data on the U.S. economy show.
That was one of the findings from the Bureau of Labor Statistics’ survey of nearly 600,000 U.S. businesses gathered from mid-July through September. The results illustrate the COVID-19 pandemic’s impact on businesses based on size, location and industry.
Here are some of the healthcare-related findings:
- Sixty-four percent of healthcare companies reported a shortage of supplies or inputs. Retail trade and accommodation and food services were the next hardest hit sectors at 59% and 50%, respectively. The national average across all industries was 36%.
- Sixty-four percent of healthcare organizations experienced a decrease in demand, while 13% saw an increase, which was relatively similar to the national average (56% vs. 13%). Across all U.S. industries, 65% percent of businesses that received a COVID-19-related loan or grant experienced a decrease in demand.
- Since the start of the pandemic, 14% of businesses increased the amount of employees’ paid sick leave.
- A little more than half of the companies surveyed told employees not to work—with or without pay—at some point during the pandemic. Of those organizations, 42% paid a portion of health insurance premiums for some or all of their employees while they were not working.
- Among businesses that told employees not to work and received a loan or grant, 70% paid a portion of health insurance premiums for some or all employees while they were not working. Only 56% of U.S. businesses that did not receive funding paid a portion of health insurance premiums while employees were not working.
- The industries with the largest percentage of companies that received a loan or grant were accommodation and food services at 77%, healthcare at 74% and retail trade at 70%.
- Nationwide, 62% of establishments received a COVID-19-related loan or grant tied to rehiring or maintaining employees on the payroll.