The reality of a virulent and highly contagious virus spreading throughout the world is difficult enough to comprehend. While the 2020 Coronavirus pandemic took most of us by surprise, it’s now impossible to escape it — and mental health therapy companies like Talkspace say daily statistics only seem to compound the horror and the fear.

And then there are the economic worries. Lost jobs. The prospect of extended layoffs, failed businesses, canceled events, school, and business closings, travel restrictions, and continued “stay-at-home” orders are not only worrisome but inescapable. National quarantines and lockdowns, daily confirmed cases and fatality statistics, conflicting news about testing, treatments, and medical shortages figure prominently in daily news updates.


Looking at a New Normal

A recent post on the Talkspace blog offers an informative look at ways to deal with the stress of current life, particularly the economic effects. Today, at a time when human beings crave the comfort of social connection, Americans are, instead, cautioned to continue social distancing. Even for those who are not affected physically, the emotional effects can be overwhelming when there are distinct limits to previous support networks.

Even in good times, the World Health Organization notes that the global economy loses the equivalent of about $1 trillion each year in productivity due to depression and anxiety. There is no doubt that these are trying times, and that anxiety and stress levels are compounded. Couple that with the reality that previous support channels are broken, and it’s important to find alternative ways of coping.

Political disagreements and maneuvering are rampant. Conflicting reports are common. There is precious little “good news” available to lighten the load. Memes and conjecture are our daily diet.

What About the Economy?

Although there is a current move to try to reopen some portions of the national economy in some areas of some states, there is little consensus that it constitutes a wise move on the part of local officials. It’s no wonder that some psychologists and mental health professionals disagree about the plans.

In just over two short months, lives have been turned upside down. Almost no one believes that a return to life as it once was is possible. No one, at this point, can predict when, or if, it will all end. Today, economic woes are almost as great a concern for most families as a physical risk. Even among those who are still drawing regular salaries or who are employed in essential businesses, the worry about contracting the disease or putting others at risk is widespread.

Economic Woes and Mental Health

There is some justification for the belief that the current economic crisis poses a risk to mental health that might be as severe as the threat of viral infection is to physical health. According to some experts, there is compelling evidence that stress-related malaise, depression, and suicide rates will have an impact on the American population, if not the world, as serious as the viral pandemic itself.

It’s understandable. When lifestyles and livelihoods, as well as the health of family and friends, are threatened, when the news is seemingly always bad, and when there is no end in sight, the prospect can be bleak indeed.

There is some basis in fact for the belief that economic worries contribute to stress, depression, and an increased risk of suicide. A study conducted by the American Psychological Association in 2017 confirmed that Americans at that time were concerned about the divisiveness of the nation, in addition to more common perennial stressors of money and work. Today, little has changed, and there is additional anxiety caused by an international pandemic.  Watching the daily news during this coronavirus crisis exacerbates those feelings.

What Can You Do?

According to Talkspace therapist Rachel O’Neill, Ph.D., LPCC-S, individuals might be overwhelmed by serious feelings of hopelessness and despair, fear, or sadness based on job losses and uncertainty about what the future holds in store. “At this particular moment in time,” she notes, “there may not be much a person can do to increase their financial security. Many folks are dealing with unemployment, employment uncertainty, or both. This contributes to an overall feeling of lack of control combined with uncertainty around how and when the pandemic crisis will end.”

O’Neill suggests trying to focus on small steps that can be taken to regain a bit of control over some areas of life. Explore ways to make little changes — in your grocery shopping and cooking routines, for instance, to save a few dollars. Rather than ordering take-out or having pizza delivered, make pizza at home with the kids, or bake bread rather than buying bagels for breakfast. Such actions can open new possibilities for fun and will help families cope with the reality of being “stuck” at home.

Avoid thinking in large terms, she advises, but instead focus only on what you can control.

She also advises putting boundaries in place to shield yourself and your family from the anxiety-producing consequences of information overload. “Setting limits is important for healthy news consumption,” O’Neill says. While she doesn’t recommend complete withdrawal from current events, she does recommend relying on facts and trusted sources for economic-related news as well as for updates on the coronavirus.

Take a Break: Be Optimistic

“Scale back from the news for a bit — maybe even take the day off,” she notes. Along with physicians, other mental health professionals, government leaders, and religious advisers, O’Neill cautions against the tendency to “catastrophize,” and advises trying to stay optimistic. One way to do that is to get beyond the headlines that are so pervasive. The current cycle of bad news is not only demoralizing and disruptive, but it can also be damaging to the mental well-being of adults and children alike.

Finally, O’Neill adds that “no one knows for certain what the economic consequences of the pandemic will be.”

Rather than looking at “worst-case” scenarios, she says that our country won’t be in crisis mode forever. She insists that it’s possible to learn from the current struggles, and then “we will move forward.”