The COVID-19 pandemic and the resulting lockdowns irrevocably changed our way of life as a global community. Not only did this crisis bring fear to many, but it also cost many people their lives and livelihoods.
As the world’s economy continues to struggle, many people are still struggling with unimaginable financial strain. More and more businesses are closing, and an alarming number of people are applying for unemployment each year. However, certain industries are suffering more than others. To give you a clearer idea of the impact of this crisis, consider the effects it’s had on the following industries:
1. Small Businesses
Small businesses such as coffee shops, boutiques, salons, and restaurants closed their doors in 2020, causing many shop owners to face bankruptcy while workers lost their jobs. Even real estate investors took a hit during COVID-19 due to low inventory and tenancy rates. Only the commercial sector saw continued growth during this time, causing an increased demand for commercial real estate agents.
Understandably, people weren’t going out much during 2020, so there was less demand for things like nail and hair appointments, and since weddings and parties were canceled, no one was buying clothes either. Coffee shop owners struggled as casual visitors became a thing of the past, and gig workers started working from home instead of setting up camp in their local café.
2. Taxi Drivers
Whether they work as part of a recognized driving service or a boutique shuttling company, taxi drivers have been struggling to fill their seats these past two years.
Between remote work and online learning, there just aren’t as many passengers to shuttle around anymore. And because travel is so limited, airport pickups and drop-offs are few and far between.
3. Healthcare Workers
There’s no denying that the healthcare industry was the hardest hit by the COVID-19 crisis. Healthcare workers continued to place themselves at risk to care for patients on a daily basis, all while dealing with inadequate PPE and other supply chain issues.
Unfortunately, a lot of brave healthcare providers contracted the disease while on duty, with some even succumbing to it. However, due to their sacrifices, many lives were saved, and their legacy will live on.
4. Artist, Designers, Entertainment, and Media
Most celebrities rely on their fans to make money, and since live performances were put on pause, many artists struggled to make ends meet. This was especially problematic for independent artists who require face-to-face interaction in order to make a living. Why do you think you haven’t seen buskers and street mimes lately? It’s all due to COVID-19 lockdowns.
No one was lining up to buy festival tickets during the height of the pandemic either. Theatres were closed during this time, so the people behind live theatre shows and some of our favorite movies had to go without work for a while. This also meant that ticket sellers and the people who prepare and sell food and drinks at movie theatres lost their jobs.
5. Service Workers
This industry includes food servers, security guards, and janitors who worked at schools, shops, and institutions that were closed during the height of the pandemic. Because everyone was trying to protect their loved ones by staying at home and sheltering in place, these workers lost their jobs. Many had to go on unemployment or depend on similar government incentives.
While the COVID-19 crisis is receding into our collective rearview mirror, its effects will be felt for a very long time. We have a challenging path ahead if we wish to recover from the economic damage caused by business closures, revenue loss, and skyrocketing unemployment.