One of the firms that helped the Bureau come up with conclusions was Alignable -- a social network for small businesses. Eric Groves, chief executive of Alignable Inc., has been in constant contact with the company's social network of small businesses. He told me this week that in July, fear of another shutdown of the economy emerged as a bigger concern than payroll, rent, revenues or supply chains.

“The uncertainty is brutal when you’re trying to figure out how to spend the little money you have." If you spend long on Main Street, you sense unease. 

Consider a business like Jon Hughes's Downtown Bike Shops in Detroit. It's busy, but not in a way that has Mr. Hughes swimming in cash. He's knee deep in repair work as Covid lockdowns have inspired many to get their bikes fixed, but lacks new inventory. It can take a mechanic a full day of work to equal the type of profit that can be earned in a single bike sale.

“Right now, sure, there’s a boom in this industry, but it’s almost like a fake boom, and I can’t plan on that continuing,” he told me. The pandemic plays a cruel joke by creating a lot of busy work -- chasing inventory, improvising repairs, learning new skills -- but not delivering the type of profits that this busy work should result in. Mr. Hughes is scratching his head. 

“The uncertainty is brutal when you’re trying to figure out how to spend the little money you have. Do you bet on red, hoping red comes back around again, or do you just stand pat?” 

The Journal's Exchange section, published Saturday, tackles many of the problems facing small business as we enter August. To get an overview, check out our official survival guide. Put the WSJ's live Aug. 21 "Managing a Small Business in Crisis Q&A on your calendar by clicking here. 

— John D. Stoll, Business Columnist, WSJ

Has your small business or the one you work for been impacted by the pandemic? We'd like to hear from you. Email me  or fill out the form at the bottom of my column with details on what you've done in response to the pandemic, whether you expect job cuts later this year and your greatest challenges. What type of government assistance would be most helpful?  

What now? As Congress debates the next coronavirus relief package, millions of Americans are waiting to see if the extra $600-a-week unemployment benefit that expired Friday will be extended or reduced. Some argue the supplement actually discouraged people from returning to lower-paying jobs, while others say it has provided a key economic lifeline.

As Republicans and Democrats still quarrelled over a path on a fifth coronavirus relief bill, Sen. Marco Rubio talked to the Journal about how PPP and benefits will evolve. "We have to build a bridge between where we are today and over the next few months," he said.

On the bright side, lots of companies seem eager to bring folks back to work, according to LinkedIn's Who's Hiring index. Data shows despite the turbocharged unemployment benefits, employers saw more applicants per vacancy after the CARES Act. Even in lower-wage occupations, job applications remained elevated.

One bit of advice for those looking for any way to get back to work in August: Consider carefully the benefits of wage vs. salaried opportunities -- especially given the amout of hourly gig economy jobs that could emerge on the Help Wanted board. Hourly wages can make you unhappy.

Sanford DeVoe, a UCLA management professor, writes in this week's Leadership Report about the issue. Thinking about pay in hourly increments makes people focus more closely about the value of each hour and how they are spending it. They are more willing to rack up extra hours on the job to bring in more cash. And second, they spend more time outside of work socializing because networking might help boost their career.