Industry Sectors Most Impacted by COVID-19: United States
To have a broad understanding surrounding which industry sectors in the United States are most likely to be impacted by COVID-19, and the reasons why. Additionally, to understand which of those identified industries could choose to reach out to, or be receptive to an approach by a management consulting service, and the reasons why.
- According to Brookings, the Industries at highest risk from COVID 19 in the United States are mining, transportation, employment services, travel arrangements, and hospitality. A screenshot of the table can be seen here.
- The COVID-19 pandemic has affected almost all industries in the United States, but some have been put through more upheaval than others. According to 24/7 Wall St, the American industry being crushed most by the outbreak is the restaurant industry, however eighteen others are also exposed to major upheaval as a result of the pandemic. They are the casino gaming industry, the airline industry, the hotel industry, movie theaters, live sports, the cruise industry, shipping, film production, the auto industry, the oil and gas sector, the retail industry, the technology sector, the convention industry, food service, theme parks, the fitness industry, construction, and transportation.
- According to NPR, the food and beverage industry has been hit hard by the coronavirus outbreak.
- According to estimates from the US Private Sector Job Quality Index, a project from Cornell University Law School and others, more than 37 million in jobs in the United States are vulnerable to layoffs in the short term. And the most vulnerable workers are those who can’t afford it. Here’s a chart showing which industries will likely be the hardest hit by short-term layoffs, and how many of those are considered low-wage.
- The restaurant industry has ground to a halt across much of the country, with businesses being ordered to shutter entirely and social distancing keeping people at home. The same goes for department stores and retailers, gyms, hotels, nail salons, barbershops, and multiple other industries and sectors.
- The travel industry has seen some of the worst business impacts from the new coronavirus, Online travel agencies, airlines, and cruise lines all saw double-digit US sales declines in the week ended March 2, compared to a year earlier, according to new data from Earnest Research.
Summary Of Our Early Findings Relevant To The Goals
- Our initial hour of research was spent ensuring that the requested information was publicly available and also providing credible and reliable sources that cited what industries would be the hardest hit by COVID-19.
- We did not have enough time to provide the reasons why these industries are being affected, nor did we have time to identify which of these industries would be most receptive to an approach by a management consulting service, and the reasons why. However, we want to caution for this last part, that nothing was found surrounding that, most likely because the COVID-19 crisis is still new. Instead, we are suggesting pivoting the research to the industries that would be most likely to reach out to a management consulting service, or be receptive to an approach by one, during any kind of crisis. That is reflected in our scoping below.
- Please select one or more of the options provided in the proposed scoping section below.
Proposed next steps:
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