The coronavirus has dominated all of our lives in recent months. Radical paths were taken by politicians in the form of lockdowns to contain the pandemic. But we should recognize that even if the coronavirus is a (major) challenge for us, we always have to keep a holistic view of world events. Just as there are epidemiological factors to consider in this crisis, there are also economic, social, cultural, political and other health factors at play. It is precisely these other factors that are so often forgotten in the panicky reporting, in the constant, manic tracking of the current infection numbers, that we want to take a look at in our series “The Costs of Coronavirus Lockdowns” in the coming weeks.
When it comes to the health-related issues with Covid-19, most of the focus is pointed at the direct consequences of the pandemic – how many have tested positive and how many are dying. Quite often are forgotten the adverse indirect effects of the pandemic and lockdowns. This is especially the case when it comes to mental-health-related issues. It is worrisome also because it affects one of the most vulnerable groups in society: children. School and activity centers closures have exposed children to the debilitating effects on educational, psychological, and developmental attainment as they experience loneliness, anxiety, and uncertainty. There is only so little parents and the system as a whole can do in a situation that burdens every aspect of living.
As the CDC reported in November, children’s mental-health-related visits to the emergency departments in the U.S. increased by approximately 24% and 31% for children aged 5-11 and 12-17, respectively, compared to the same period in 2019. Mind you, these are the numbers of a developed first world-country. Even among a well-educated populace, this is not a problem that is easy to grasp, let alone solve. We can only imagine the severe consequence on children from the less developed parts of the world that lack an appropriate system for such need.
More Statistics in Our Costs of Coronavirus Lockdowns Series:
Children Hurt Not by Corona – But by Lockdowns: children’s mental-health-related visits to the emergency departments in the U.S. increased by approximately 24% and 31% for children aged 5-11 and 12-17, respectively, compared to the same period in 2019. (CDC)
Record-Breaking Budget Deficit in the U.S.: the U.S. government spent $3.1 trillion more than it collected in 2020. Who is supposed to ever pay back all this money has not been answered yet. (U.S. Department of the Treasury)
Drug Addiction Intensifies: the number of people dying from drug overdose in the U.S.rose by 17% in the last twelve months. This only includes reported cases until May 31, 2020. (CDC)
Governments Grow in Size: in Austria, Germany, France, and Italy government spending has risen dramatically in 2020. (European Commission, Statista, and Handelsblatt)
Stillbirths on the Rise: more than 200.000 additional stillbirths could occur just in the next 12 months, concentrated in low- and middle-income countries. (UNICEF)
The Poor Pay the Higher Lockdowns Price: lockdowns and restrictions have proven to be something that disproportionally affects those already poor, whereas those wealthier are less hurt. (PEW Research Center)
How Women Are More Hurt by Lockdowns Than Men: between the first and second quarter of 2020, on average, women suffered a 6.9 % decline in wages, compared to the 4.7% decline suffered by their male counterparts. (International Labor Organization)
No Work in Europe Thanks to Lockdowns: The sharp decline in labor market participation and the 32 million people under the short-term work schemes hide the real numbers of the unemployed in the European Union, which most likely averaged a two-digit number. (ECB & Eurostat)
Printing Money in Times of Corona: Monetary policy effectiveness has its boundaries. As the Fed has created 39% of all the “dollars” in the economy in 2020, those boundaries might have been reached. (Trading Economics)
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