Social Media Sites a Comfort to Many during Recession

12/17/2008

In this time of economic uncertainty, many are reaching out – not to friends and family, but to cyber friends on social media sites like Facebook and LinkedIn. What’s the draw of social media during these hard economic times? Why social media and not friends and family? There are several reasons.

One reason many cite is a feeling of community. Others say they’re too bummed or stressed out to talk to friends and family. Many find like-minded individuals online where they can readily receive support. It lessens the feeling of aloneness because many of their “cyber friends” are in the same boat.

One of the main reasons many reach out to social media sites like LinkedIn is to network; perhaps find their next job.

In early December, Yahoo began laying off 10% of its workforce. Soon after, tech industry blogs like Valleywag and Silicon Alley Insider began buzzing. News relayed included updates on where the layoffs were happening. Readers and writers kept the blogs abuzz with up-to-the-minute news like severance package info and how the layoffs were being carried out. This kind of interactivity was not only informative, it provided solace to many going through the process.

Social Media: An Online, Ongoing Therapy Session

Some social media experts say that this outpouring is not just about dispensing information, but that users are actually reaching out to provide support like an online therapy session.

Some social media users have actually formed their own groups online. One group formed on Facebook entitled "I will NOT be participating in any Recession" trades information on how to handle your finances during this difficult time and how to keep your job. Searches on the popular site using keywords like “recession” and “downturn” yielded dozens of results dealing with everything from government bailouts to a possible economic depression.

Actual therapists have recommended that some patients use social media outlets as it can lessen the feeling of isolation and actually heighten the feeling of hopefulness.

On the down side, some experts warn that being online can actually heighten feelings of depression and hopelessness. As they surf from social media site to social media site, they’re also checking their 401K accounts and other investments. And, the news there is not good these days. This can cause more stress and anxiety.

Regardless, using social media during this challenging time brings comfort and networking opportunities for many.

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