Some Reasons for Which People Are Losing Their Jobs in COVID-19: Sadia Afrin Momi

 

Some Reasons for Which People Are Losing Their Jobs in COVID-19

 

A million people have lost their job during the last 8 months. The unemployment rate is falling, but more people are losing their jobs permanently. Most importantly, COVID-19 infections have spiked in states across the country. 

Why are people losing their jobs?

Lockdown

The lockdown has attacked all groups of people in the world physically and mentally. The lockdown may save from the infection, but the cost will be a very big loss of livelihood. Many people have lost their jobs or seen their income cuts due to the pandemic. This has already led us into a global recession. COVID-19 shrinks’ employment in the services and construction sector.

Poor Market Performance

This has already been observed in many of the world's biggest financial markets such as those of China and the United States and is only expected to continue as the outbreak matures. There are fears that this poor market performance may lead to a multi-year recession, as investors pull their money out of traditional financial instruments to hedge themselves against market volatility.

Panic

As with any worldwide outbreak of disease, covid-19 is very likely to result in panic. For example, with citizens anticipating a need to stay home for extended periods of time, they may rush to supermarkets to stock up on home goods such as food, water, and toilet paper. This has exacerbated the temporary disruption of many supply chains.

Remote work

Since many individuals will be unable to go to work during the coronavirus outbreak, some companies may choose to encourage remote work, if applicable to their line of work.

What Should Employees Do?

Millions of people around the world have lost their jobs, sources of income, or been furloughed as a result of the COVID-19 pandemic. But you have to deal with these uncontrollable circumstances. Here, I have made a simple guideline for you. Have a look, please.

Allow Yourself to Grieve

Grieving the loss of your job and adjusting to unemployment can take time. Make yourself easy and don’t attempt to bottle up your feelings. If you allow yourself to feel what you feel, even the most unpleasant, negative feelings will pass. In that case, I have a simple suggestion for you.

• Write your feelings

• Accept the reality

• Don’t beat yourself

• Stay Mentally Strong

In this situation, it is quite natural that you may withdraw from friends and family. It will definitely increase your mental stress. So you need to expand your social networks. Your mental stability is very important to cope up with this situation.

• Build a new friend circle

• Join different clubs

• Give proper involvement in your society

Involve Your Family for Mental Support

Your unemployment affects your whole family. You need your family support. So don’t try to solve your problems alone. Keeping your job loss a secret will only make the situation worse. Your family’s support can help you survive and thrive, even during this difficult time.

• Give time to your family

• Discuss everything with family

• Don’t create any secret

• Find an Another Option

It’s a high time to define yourself in another way. Make your new identities and define who you are. If you’ve neglected outside activities in favour of work, now is the time to take a class, join a club, or learn something such as a foreign language or new work-related skill. 

• Express yourself creatively

• Pick up a new hobby

• Keep Your Focus

The stress of job loss and unemployment can take a toll on your well-being and leave you more vulnerable to mental health problems. Don't be overwhelmed by breaking big goals into small ones.

• Create a job search plan

• List your positives

• Focus on what you can control

Sadia Afrin Momi

Session: 2017-18 

Department of Banking & Insurance