Financial Fallout from Coronavirus Could Cause Spike in Suicide Rates
- Author: Jacob Greene
- Posted: 2024-08-05
For the first time in history, all 50 states in America have declared a national emergency. Businesses have been forced to close - many of them even permanently. April is expected to have the highest rate of unemployment since the Great Depression - perhaps even higher. As country and state leaders struggle to control the situation, people abruptly left without a source of income are likewise struggling to make ends meet.
The first wave of stimulus payments has hit bank accounts, but there are plenty of issues as these are posting. Social media news feeds are filled with stories of people not receiving their stimulus payments, having issues with the new website to track their funds, or having trouble signing up for unemployment.
Which is Deadlier - Coronavirus or Economic Recession?
One of the biggest battles making news headlines revolves around this issue: Which might be deadlier, deaths directly caused by COVID-19, or deaths from a declining economy as a result of closing due to the virus? President Trump recently stated, "We cannot let the cure be worse than the problem itself." This issue is being heatedly debated as the White House task force and the governors of each state work to make the right call about whether to extend stay-at-home orders and governmental lockdowns or to start opening the economy back up.
President Trump released his administration's three-phase plan entitled Opening America Up Again. Yet, it will remain up to each governor to decide when to ease restrictions in their individual states. This three-phase plan lists specific criteria, such as a decline in the virus, associated with the gradual reopening of businesses and public places. Only at phase 3, which would be three two-week cycles of a decline in the virus, would there be a resemblance of normalcy. Even then, there would still be requirements to maintain certain physical distancing protocols and extra hygiene measures.
As the economy continues to struggle over these shutdowns, the following are causes of deaths related to a bad economy.
Suicides Increase
The CDC states that suicide risks increase during economic recessions marked by high unemployment rates, job losses, and economic instability, particularly for working-age individuals. In fact, the top reason listed on the CDC website to help prevent suicide is to strengthen economic support. Another is to promote connectedness, which is obviously a challenge when people are being ordered to stay at home and maintain social distancing. Another research article indicates that mass layoffs may be powerful localized events where suicide risk increases shortly afterward.
One county in Tennessee has unfortunately already had a spike in suicides. Knox County, Tennessee experienced nine suicides in a 48-hour period. That equates to ten percent of the entire previous year's total.
If you or someone you know are feeling the strain from finances during this time, talk to a financial professional about your options. There are many resources to help you through it. The national suicide hotline is 1-800-273-8255.
Untreated Medical Issues
The fear of being exposed to the coronavirus might prevent people with medical issues from going to the doctor or hospital. Doctors are already seeing a decline in heart attacks, and attribute it to people not being seen for chest pains.
If you are experiencing medical issues, it is best to get in contact with a medical professional. There are options available to you. Medical professionals can tell you how to proceed. Many doctors have been utilizing video chat for appointments. For emergencies, call 911 and/or head to your nearest emergency room.
Uptick in Violent Crimes
As financial struggles ensue, some desperate individuals could turn to crime to make ends meet. Some cities have already had instances of criminals taking advantage of business closings to loot those stores. It is also well known that domestic abusers prefer to isolate their victims. This becomes all too easy when everyone has been ordered to stay at home and away from others. With courts closed, restraining orders are delayed. With stress levels raised, there has already been an increase in domestic abuse and child abuse instances.
The only certainty through these times is that there will be deaths and financial impact from this virus, whether directly or indirectly. It is up to each person to make sure that our family and friends are safe and healthy, whether physically, emotionally, or financially. There are ways to stay connected, even if you aren't able to meet in person. Together, the country can make it through this.
