Coronavirus has impacted our lives in various ways, from social distancing to job cuts, the three major impacts are on our economy, social lives, and environment.
Around the end of 2019, the first case of the novel coronavirus, or COVID-19, appeared in Wuhan, China. Within months, the virus has spread to all corners of the globe, significantly impacting lives. Whether young or old, rich or poor, every individual has been affected by the quarantine the world is in. Right now, we are in the epicenter of this crisis, but we will soon face the aftershocks. Coronavirus has impacted our lives in various ways, from social distancing to job cuts, the three major impacts are on our economy, social lives, and environment.
Coronavirus Impacts: The Economy
As you already may know, the effects of the coronavirus on our economy are substantial. Unemployment rates are gradually increasing; in fact, the Goldman Sachs Investment Banking Company predicts that over 30 million people will file unemployment claims this year. And due to this worldwide crisis, an individual who loses their job during this time will face unprecedented financial problems.
As for the food industry, the nation’s food supply seems to be stable as of now, however, prices are slowly rising due to increased consumer demand. According to Nielsen Corporation, at March 7, 2020 food sales began to significantly rise: dried beans sales rose 63%, rice rose 58%, chickpeas/garbanzo beans rose 47%, powdered milk products rose 126%, water rose 42%, and canned meat rose 58%.
The food companies that depend on China for their supplies and want to avoid supplier disruption are looking for other sources. Additionally, since imports and exports of foods such as meat and dairy are being affected, companies are urging to produce their own grains and such domestically.
Employees of these companies are also ensured their safety while working.
Coronavirus Impacts: The Social Life
The social lives of people all around the world are being affected by the COVID-19 quarantine. It has also affected their mental health, according to an article by ScienceDirect, stating that the reasons behind the mental health challenges include longer quarantine duration, infection fears, frustration, boredom, inadequate supplies and information, financial loss, and stigma.
Since quarantine isolates people from each other, loneliness has also become a key factor in affecting the mental health of many people. Additionally depression, hostility, pessimism, social withdrawal, and alienation can all result from loneliness. It is further revealed that loneliness can also lead to many more severe disorders such as clinical depression, schizophrenia, and borderline personality disorder.