Economic Concerns

A harbinger of doom for the economy...

Covid-19 has been a harbinger of doom for the economy. The pandemic has wreaked havoc on not only global economies, but ordinary mothers, fathers, and workers who have been impacted by this economic peril. During just the first few months of the pandemic, around 22 million U.S. workers lost their jobs.33 In 2020, roughly 1 in 3 full-time workers experienced a pay cut due to the coronavirus pandemic.34 As a result, stress, anxiety, and depression due to economic insecurity skyrocketed during the pandemic. Indeed, previous research on financial losses has more broadly found a higher level of psychological distress among people suffering financial losses.5

This psychological distress among parents influences children. Children, seeing their parents suffering, in depression, and possibly even resorting to substance abuse or worse, could feel immense pressure and distress themselves, leading to mental health deterioration.30 According to one research paper, mental illness and substance abuse of parents significantly influence parent-child relations and increase the risk for mental health problems in children.19

Thus it is immensely important to remember that it is children, who spent their childhood as excellent observers, whose mental health is most fragile.