Table 6.

Extensive margin separations arising from firm closures over different hypothetical crisis durations (all numbers in millions)

	2017 Census		End-of-2020 separations if crisis lasts
January employees	Firms	Employees	1 mo	4 mo	6 mo
Under 5	3.7	5.9	1.6	3.1	3.6
6 to 24	1.8	18.1	4.8	10.5	12.1
25 to 49	0.3	9.5	1.6	4.4	6.9
50+	0.3	26.8	5.8	14.6	12.5
Total	6.1	60.4	13.7	32.7	35.1

This table reports results of end-of-2020 employment separations based on extensive margin business closures using the between-subjects survey design that asked about the ability to remain open under different crisis durations in Table 5. We take the fraction of businesses closing by December 2020 as the complement of the numbers in Table 5 and then multiply by the number of 2017 employees (in millions) from the Census, yielding the implied level of employment separations in each cell.