To think that financially, Covid hasn't changed much for many people.

[blueblueblue101]

I keep hearing that we are in a recession that will be the longest and deepest in history. Yet when I look around, no one seems to be financially hit. Plenty of people going out for their meal out to help out. People still able to afford holidays. No one around me has been made redundant and no one I know seems to be remotely concerned about what the future holds in regards to finances Meanwhile, I am eaten up with worry that we'll lose our jobs our home etc.

There are huge variations.

A lot of my friends are in the entertainment industry, those who are well established are doing fine, those who aren’t or who are in technical areas have earned nothing since March.

My industry is very busy (actuary), but I was on furlough for a short while due to not having childcare, I’m now on unpaid leave until school starts. My boyfriend was made redundant, he has found another trainer position, but he had surgery three weeks ago so he won’t be bringing in a wage for at least another month. My household income has dropped massively, but I’m lucky that mine will return to normal very soon and I do have savings, so I haven’t needed to really change my spending.

Unemployment figures are looking okay at the moment, but thats because we aren’t counting the self employed who have earned £0 and furlough hasn’t come to an end yet.

Obviously risk of redundancy is completely different depending on your industry - travel and hospitality high risk, nursing and and teaching in schools low risk

@Waxonwaxoff0

Most people I know are key workers/public sector so no one really in danger of losing their job except me! Business is good at the company I work for right now but who knows what the future holds.

The very large Council near us has started VR with CR to follow

Well I lost my job and made redundant due to covid just as I was supposed to go back from maternity leave. And all jobs in my sector are non existent due to it being project work dependent on funding. It has been worrying those couple of months with no income from me. Trying to find a job during this time hasnt been as easy as media would make out. I literally Stood in line at a supermarket recruitment event for three hours just for someone to take my name and hear nothing. Applied for tons of jobs and thankfully I have one. Not in my field or what I'm trained in but it's a job. I have bills to pay.

I've been made redundant, my husband may be precariously so to if we're unlucky.
Our household income has more than halved.
We're about to rely on Universal Credit for the first time in our lives (25+ years of working) and I am 7 months pregnant.
You may not know anyone (yet) but please consider yourself lucky and cross your fingers that you can still say the same in October when the furlough scheme ends.

It might be too early to tell. People going away could have easily paid for it last year. Going out to eat when theres £10 off might be instead of going out anywhere without thinking about the price. People might have saved money short term during lockdown by not going out, using their car less, saving on commuting etc but still might be at risk of pay cuts or redundancy.

However where I live (commuterville) most people seem to be wfh, saving on commuting costs and recommending the best local places to get expensive artisan bread, cupcakes,cream teas delivered and seafood (to help out indie businesses)

We're a bit better off but I have friends who are struggling.

YABU

We are now going into a period where companies will start giving 45 days notice for redundancies. All the Furlough payments have done is to give people a false hope that their jobs will survive

How have you not seen an impact?!

My brother is a dentist. He hasn’t been able to work for several months. He hasn’t been able to claim anything from the government as he is self employed and in normal times earns more than the £50k profit per year. He can’t go back to earning normally because appointments have to be separated out. Who knows when that will end.

I’ve been made redundant, and you just have to look at the figures to see that I’m not in the slightest bit on my own.

My cousin is a pilot, and has earns barely anything in the past few months and faces redundancy.

I just can’t understand how you can’t see it all around you? Soft play going under, retailers shutting down, restaurants closing huge amounts of stores. The impact on the economy is enormous.

@BackwardsGoing

So you've read about mass redundancies, evictions, business closures, joblessness, increase in benefit claimants, increase in food bank demand etc, ignored all of that, looked out your window and thought "meh, looks about the same."

You're not very bright, are you OP?

This a million times. OP, sometimes it's better just to count your lucky stars and not show your ignorance publicly.

Just because you can’t see something doesn’t mean it’s not there.

It completely shut my business for 3 months (childcare, no key worker children) & some children are not returning for various reasons. Fortunately the government have paid the self employment grant although I realise we will end up paying for this at a later date. It hasn’t affected us too much as hubby has still been able to work so we are fortunate in that respect but savings have diminished & I’m not seeing a massive upturn in business atm. I’m hoping it will come but if not I’ll have to find some employment.

I keep hearing that we are in a recession that will be the longest and deepest in history. Yet when I look around, no one seems to be financially hit.

Some of you folks are lucky...I heard a lot of bad news from friends and colleagues just yesterday, to add to bad news I've heard from others over the last few weeks..and I'm sure others know similar.

Several hundred of my immediate group of colleagues were given a months notice of compulsory redundancy yesterday..('nowt in the papers, funnily enough).

Hundreds if not thousands of others in other employee groups in the same company are taking Voluntary Redundancy (or as some are calling it "involuntary voluntary redundancy" on fairly mean terms over the next month or two...

That's just one example from one company..the "trickle down" hasn't begun to work it's way through into the general economy yet.

It's affected my family op. And my business so double whammy.

Furlough with 20% less would be manageable without the car and vet emergency bills and the blown up oven during lockdown.

Still trying to catch up.
Been back to work 6 weeks and earning potential has dropped massively. People holding onto their money and I don't blame them so knock in effect is having to reduce my hours so a permanent drop of 20% now.

Between March and now I've estimated my household has lost around £2500 not including the £1200 car and oven bill so nearly £4000 down.

Now add £500 a month less on earnings until at least January.

And the extra electric and food for the four months everyone was home and school working on computers etc etc.

AT the moment many people have been protected by the effects by furlough payments and other measures to keep businesses staggering on. The real effects are going to happen over the next 6-12 months.

The company I work for employs 1000 people. It's in the process of making 25% of the work redundant. This will have a huge impact on not only those families but also the town that it is based in.

Very worried about when furlough ends. I think there will be horrendous times to come in the employment market. My own company will no doubt be making people redundant. The furlough scheme has been a life saver for many people but when it stops how will companies pay their staff with no income?

Sorry to say that there will be bad times ahead for a lot of people and OP is being naive.

Wel I know no one who's a drug addict therefore drug addicts don't exist.
Also, all my friends are leftists, so tories are an illusion.

It's called an echo chamber.
Most of the people I know are fine as well, because we happen to work in similar industries, we come from similar social classes, we're at the same stage in life...
Or maybe worse : because of that echo-chamber effect, those who struggle don't dare saying so because they feel that the others are unaffected.

The fact is: it hits vulnerable people really really hard. Be grateful that you're ok.

It’ll hit OP when the tax increases come in to pay for furlough and increased benefits bill. That’s the thing- even those who remain employed are going to be hit at some point

The huge numbers applying for universal credit, have been furloughed, companies now making people redundant will have a knock on effect

It may not have impacted many people you know yet and some may have saved from not going out/lifestyle changes but it shall impact us all in some way

The government have paid millions and that money isn’t just written off

Am lucky, my friends and relatives are key workers, so no change there. When we bought our first house, 100% mortgage, house, plus for central heating/double glazing, DH was made redundant a month later, then 4 more times in the following 8 years. We coped, you have to especially if you have kids, I have been a quantity surveyor in a big london company, and cleaned toilets to keep a roof over our head.

I think it depends a lot on the sector you work in - round here a lot of people work in IT/telecoms and similar areas, which have done well because of do many people switching to working from home. But that's the same as any recession - if you keep your job, you'll be okay. In fact, if you've been working, it's been quite hard to spend money beyond housing and food, because nothing's been open. I feel richer than usual, because I have had refunds from holidays I had planned this year, though I hope to spend that money next year.

Many people are not in this situation, and not knowing where money will come from to cover everything is stressful, to say the least, and has an obvious effect on spending and so on, which then has a cumulative effect on an economy that was spread struggling - how was you local high street doing before CV-19? And then the effects of Brexit, but at least the pandemic will give the government an excuse for the recession.

How offensive.

I know many business owners struggling. Lots of friends made redundant and several with hours cut. If you're not concerned about the impact of this recession you're an idiot.

Count yourself lucky and keep your thoughtless comments to yourself.

I really tried to write a response, but decided that saying what I think of such a bloody stupid post was probably not allowed.

4% of my company being made redundant, the board taking a 10% pay cut to help the business...

yes it is changing