4.1.21. Junjie Guo, Noah Williams, Arwa Alalwani, Zhi Jiang, Jiashun Pang, Stefan Smutny, Linhua Zeng. We analyze the effects of the 2020 CARES Act implementation on the local labor market. We use observations from the Homebase Database which provides granular labor market data from a sample of small businesses across the United States.