Oh, there are effects that won't be felt for decades.

I'm currently in my prime earning years, was at a great paying job. Covid killed off our work and I got laid off. Been looking for a few months now, and most of what I'm seeing pays less than my old position.

With savings and unemployment, I'm pretty safe for a while, but it's costing me close to $10,000/month, plus payments into a retirement plan, plus no health insurance (I'd have to stay unemployed until 2022 before I'd qualify for any sort of assistance on that).

I'll probably have to stay in the workforce for years extra to make up for this. And I'm lucky. I'm in a relatively good financial position.