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Agenda - 11-12-20; ITEM 3 - Update on COVID-19 Long Term Recovery Planning
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Agenda - 11-12-20; ITEM 3 - Update on COVID-19 Long Term Recovery Planning
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11/6/2020 3:34:50 PM
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BOCC
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11/12/2020
Meeting Type
Work Session
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Agenda
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ITEM 3
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Agenda - 11-12-20 Virtual Work Session
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 11-12-20 Virtual Work Session
Minutes 11-12-2020 Virtual Work Session
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\Board of County Commissioners\Minutes - Approved\2020's\2020
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36 <br /> DRAFT <br /> Revenue and Employment Outlook <br /> The businesses surveyed were also asked to predict their anticipated revenue and employment <br /> outcomes over the next three to six months. Sixty-nine percent (69%) of businesses expect revenue to <br /> decrease in the next three to six months, and twenty-three percent(23%) of the overall respondents <br /> expect that decrease to be more than 50%of revenues collected during the same period in 2019. <br /> Fourteen percent (14%) expect revenues to be about the same as in 2019. Seventeen percent (17%) <br /> expect higher revenues in the next three to six months, although most of those respondents predict <br /> modest increases of less than ten percent. <br /> Three to Six Month Revenue Outlook <br /> 80 <br /> 70 <br /> 70 <br /> 62 <br /> 60 58 <br /> 50 <br /> 41 <br /> 40 <br /> 30 <br /> 20 19 18 20 <br /> 11 <br /> 10 4 <br /> 0 <br /> Decrease by Decrease by Decrease by Decrease by The same Up 10-30% Up 30-50% Up less than Up more than <br /> more than 30-50% 10-30% less than 10% 10% 50% <br /> 50% <br /> The three to six month employment outlook appears to be more stable. A large majority of businesses <br /> (76%) expect to maintain the current size of their workforce as of August of 2020. Only two percent <br /> (2%) anticipate additional layoffs and furloughs. Consistent with the seventeen percent (17%) of <br /> respondents that expect higher revenues in the next three to six months,fifteen percent (15%) of <br /> respondents also indicate that they intend to add workers during that timeframe. An additional seven <br /> percent (7%) expect to recall currently furloughed employees. <br /> 15 <br />
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