According to several researchers, even if controlled, the corona virus is going to last for at least two years which, in addition to health impacts, would have several other economic and financial adverse effects as well. Let’s have a look at them.
1. Money- Post the COVID-19 (Corona) lockdown, an acute shortage of money is anticipated in rates never seen before. Thus it’s advised to spend money wisely, save it, and not use it for luxury and unnecessary purposes. By unnecessary purposes, luxury and branded stuff, extra items, and even the stock market is meant.
2. Jobs- Several employment sectors are going to take a long time to come back to its original strength. So jobs like waiters, tour guides, and the hospitality industry might crash and be inactive for employment for at least two years. Thus it’s suggested that the lockdown time is used to learn job-oriented skills like editing, sales, IT sector skills, etc. and those that would fetch money fast.
3. Freelancing works- With the immense setback to the economy, the expected unemployment rate may reach an all-time high. Thus it’s the time to create self-supported jobs like teaching on online platforms and offering services on a freelancing basis.
4. Medicine- COVID-19 taught us the need for health care professionals over all the glamorous jobs and high-end businesses. Thus for people planning their careers, you can consider studying medicine as the field of healthcare and medicine is going to expand further and offer job prospects to thousands.
5. Patience- For the next 2 years, and absolutely changed environment can be expected with physical distancing being a very part of our lives. Thus patience is the only way to endure the upcoming disastrous years. For the first time in history, we can expect the rich to stay rich
while the poor will be reduced to further poverty. As it’s not possible for everyone to upskill themselves, millions might enter poverty all at once, and if anyone possesses money, giving
it is more appreciable than spending.