The above diagram shows the percentage of unprofitable companies in the US, across different groups and compares the numbers to previous downturns.
It is very encouraging that large caps are doing very well currently, however, small caps are a concern, because the Russell 2000 companies are much more representative of the US economy than large caps, where tech companies are a big portion, and tech companies' contribution to US GDP is much more limited than Russell 2000 small cap companies.