COVID-19 continues its merciless advance across the United States, leaving no individual or industry unaffected. As of the publication of this article, there are 1.5 million confirmed cases in the country and more than 90,000 deaths, according to the CDC. Additionally, Fortune reports that the U.S. service sector index fell from a March reading of 52.5 to 41.8 in April, marking the first time the services industry has been in a contraction since December 2009.
In a new whitepaper, national insurance and financial services firm Alera Group detailed the effects of COVID-19 on 10 of the hardest-hit sectors. Headed up by employee benefits practice leader Sally Prather, and property and casualty practice leader Mark Englert, the report analyzes the pandemic’s impact on agriculture, construction, higher education, health care, hospitality and gaming, manufacturing, nonprofit organizations, the public sector, restaurants, and small businesses.
Each of these industries is grappling with its own specific set of struggles, but many of their challenges — absenteeism, remote and virtual working environments, workers’ compensation, risk management, and business interruption — are shared ones.
“One thing is certain: this is not business as usual. Economic uncertainty is forcing businesses to contemplate a post-COVID-19 world,” says Englert.