Press Briefing: UNC Kenan Institute Projects Small Business Layoffs to Quadruple Total U.S. Unemployment Rate

Tuesday March 31, 2020 • 11:00 AM

MEDIA ADVISORY

Contact:
MacKenzie Babb
Kenan Institute External Affairs Director
919.632.6641
MacKenzie_Babb@kenan-flagler.unc.edu

Chapel Hill, N.C. (March 30, 2020) – A panel of experts convened by UNC Kenan-Flagler Business School and its affiliated Kenan Institute of Private Enterprise will be offering a press briefing via webinar examining the massive implications the COVID-19 market disruption has, and will continue to have, on small business employment, including a projected 11.5 percentage point addition to the overall U.S. unemployment rate by small business layoffs. They will also examine the role relief legislation can and should play in mitigating the economic effects of the pandemic. Join tomorrow, Tuesday, March 31, at 11 a.m. EDT to hear from the following experts:

While acknowledging the magnitude and complexities of the current fiscal response to the COVID-19 virus, Kenan Institute Research Director and UNC Kenan-Flagler Business School Professor Christian Lundblad will highlight the importance of attending to the disproportionate financial vulnerabilities faced by small businesses as a critical vector through which a large component of hourly workers are suffering.

UNC Kenan-Flagler Business School Professor Paige Ouimet will discuss estimates of potential layoffs at small businesses, both for the U.S. as a whole and North Carolina specifically, based on results from a survey run by the Small Business Investor Alliance. She will also cover the expected economic and non-economic implications for displaced workers.

And joining from Washington, D.C., Grant Thornton Chief Public Policy Officer Mary Moore Hamrick will provide an analysis of the ongoing effort from our nation’s capital to mitigate the effects of COVID-19. She will discuss the recent passage of, and process behind, the $2 trillion stimulus package, providing historical context and predictions on what might come next.

Each expert will provide a brief overview of his or her respective topic, citing applicable emerging research and data, before the floor is opened for questions from the press. You’re invited to join via webinar (details below), and welcome to respond directly to this email to submit any questions you’d like addressed ahead of time.

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Please click the link below to join the webinar:
https://kenan-flagler.zoom.us/j/204908154
Or iPhone one-tap: US: +13126266799,,204908154# or +16465588656,,204908154#
Or Telephone: Dial (for higher quality, dial a number based on your current location): US: +1 312 626 6799 or +1 646 558 8656 or +1 346 248 7799 or +1 669 900 6833 or +1 253 215 8782 or +1 301 715 8592
Webinar ID: 204 908 154
International numbers available: https://kenan-flagler.zoom.us/u/ac6pEgWfxt

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About the Kenan Institute of Private Enterprise at UNC Kenan-Flagler Business School
The Frank Hawkins Kenan Institute of Private Enterprise develops and promotes innovative, market-based solutions to vital economic issues. With the belief that private enterprise is the cornerstone of a prosperous and free society, the institute fosters the entrepreneurial spirit to stimulate economic prosperity and improve the lives of people in North Carolina, across the country and around the world. Learn more at kenaninstitute.unc.edu.


For more information, contact:

MacKenzie Babb
Kenan Institute External Affairs Director
919.632.6641
MacKenzie_Babb@kenan-flagler.unc.edu