Perception of COVID-19 on the Employment and well-being Among Young Adults

Abstract

During emerging adulthood (EA, 18-30 years old), individuals are expected to become financially self-sufficient, and the most common pathway is through employment. Many EAs were struggling to secure stable employment. As a result, EAs are taking longer to become financially self-sufficient and many continue to rely on family financial support in the third decade of life. The economic impact of COVID-19 restrictions on employment made it even more difficult for EAs. Specifically, many young workers lost their job, meanwhile some others are still employed but had significant income loss. The current study examined the impact of job loss and income loss due to COVID-19 on EAs worldwide by collecting data from 2,282 participants across six countries. Guided by the stress appraisal theory and life course theory, we conceptualized COVID-19 as a turning point, which created stressors such as job loss and income loss that disrupted the lives of EAs. We found that stressors such as job loss and income loss are associated with psychological well-being as well as general and future financial well-being. Specifically, this association was mediated by EAs’ primary appraisal, which was indicated by whether they perceived the pandemic as an opportunity or misfortune.