The financial impacts of COVID-19 are widespread and will be long lasting. One impact is that some people will lose their jobs and other people will lose their businesses. There will also be an increase in competition for any positions that do become available. As a psychologist I get to see the negative impact a job loss can have on your mental health. I developed this list to help if you do lose your job. This list can help you figure out your next steps and can help to reduce the negative impact of a job loss on your mental health.
We are in a recession and here in Australia the unemployment rate has increased from 5.2% in June 2019 to 7.4% in June 2020. There have been predictions that this will increase to up to 1 in 10 Australians being unemployed. Job losses have the greatest impact on young people just starting out in their careers and those towards the end of their careers.
What can you do if you lose your job?
As soon as you become aware you are going to lose your job you need to start planning, however, worrying constantly about unemployment is not helpful. The most important step is to treat unemployment like a job. Your goal should be to spend 8 hours a day filling out forms, contacting employers and applying for jobs. It is important to include breaks and weekends off, so you don’t wear yourself out. Try to keep to your routines you had when you were employed as well as eating healthy, exercising regularly and getting up early.
This is a list of ideas that have helped my clients when they have lost their jobs:
- Don’t avoid
- If you have a car, bank or personal loan or mortgage contact the bank as soon as you know you have lost your job. Find out what your options are.
- Tell your family and friends that you have lost your job so they can provide support and advice.
- Update your budget
- Cancel all optional payments (i.e. Netflix)
- Ring and see if there are cheaper phone plans or internet packages etc
- Reconsider your biggest costs (usually rent/mortgage, car, food) is there any way to reduce these
- Do not go on holiday unless you have budgeted for it
- Contact Centrelink to discuss your options for financial support.
- Even if you don’t need government support it is good to know what is available and what the criteria are to obtain this assistance.
- Look at your insurance policies.
- You may have income protection cover especially if you have insurance through your Superannuation fund.
- Acknowledge and process the big emotions that can occur when you lose a job
- Shame, shock, worry, anxiety, anger, fear, embarrassment
- Along with a job loss can come a feeling of losing status or a part of your identity.
- A job loss can also impact family relationships and lead to increased tension
- If these feelings do not pass it may be helpful to talk to someone.
- Update your CV
- If you are unsure how to do this use a CV writing service
- Write a draft cover letter then modify it for each position you apply for
- Contact your referees and obtain up to date contact details. Remember you can use character references if you do not have professional references.
- Appearance is important for job interviews. Get your job interview clothes, hair etc ready.
- Take any job that comes along
- Consider a job agency if needed
- Many CEO’s have started in the mail room. I myself worked night shift at a post office during my studies.
- Get help
- Under stress, problem solving abilities are decreased. A psychologist can help you work through the situation, process difficult emotions, improve social and interview skills, and assist you to problem solve difficult decisions.
- Google the largest employer in your area
- Consider moving to find employment
- Think outside the box or consider a career change
- Learning a trade
- Joining the defence force, police, fire service
- Moving to a rural and remote area for farming or agricultural jobs
- Consider further study
- Volunteer
- Ask neighbours or local shop keepers what positions are available
- Consider what jobs there will be in the future
- Employment is changing as new technologies are introduced. It is important to consider what types of employment will be available in the future. When I completed my psychology training there was no consideration that Telehealth Psychology would be an employment option. The Australian government job outlook website discusses jobs of the future as being in aged and disabled care, nursing, child care, welfare support workers, software and applications programmers, management and organisation analysts, accountants, and school teachers and aides.
The most important thing is to hold hope for your future and keep moving forward even if there are setbacks. For every job that is advertised only a few people get an interview so be ready for disappointments along the way. If losing your job or the process of finding employment are impacting your mental health talking to a psychologist can help.
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