Potential Recession Would Harm Mental Health: Experts

Jey Austen, a brand designer at a fintech company, lost their job about two weeks ago. But the layoff didn’t come as a surprise, said Austen, 27, who is trans and uses they/them pronouns.

A market downturn in recent months has hammered the tech industry, eliciting a wave of layoffs. Austen, whose lease on an apartment in Austin, Texas ends in August, will receive three weeks of severance pay but otherwise lacks savings, they said.

“Worst comes to worst, I’ll sleep in my car,” said Austen, who was making $80,000 a year. “It’s a sucky situation all around.”

Compounding the stress, Austen will likely struggle to afford their usual weekly therapy appointments, they said. To save money, they’re considering a reduction to bi-weekly or monthly appointments. “Therapy was already expensive,” Austen said.

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