A forthcoming recession could see divorce rates surge, impacting tens of thousands of dependent children, according to divorce lawyers at Parker Bullen solicitors.
With financial prosperity comes relationship harmony and a drop in divorce rates. But following the last two recessions, divorces rates rose by around 5%.
In 2010, divorce rates rose by 4.9% following the 2008 – 2009 and rose by approximately 5% following the previous recession in 1990 – 1992.
The biggest impact will fall on tens of thousands of children, many of whom are already suffering mental health issues from the isolation caused by school closures.
On average, half of divorcing couples have dependent children. Each family has an average of just under two children. But divorce is just the tip of the because a further one and a quarter million unmarried couples also have dependent children; they are families with the same financial pressures as married ones, but arguably with less protection.
Suzanne Foster, partner and divorce expert, Parker Bullen Solicitors, says; “Divorce is the dagger in a relationship, but it’s the 1000 cuts that come first – redundancy, unpaid mortgages a cycle of debt that push couple over the edge. But worst of all is the effects these have on dependent children.
“Divorce rates today are low at around 90,000 a year, thanks to a decade of prosperity. The pandemic’s devastating financial impact, alongside its effects on mental health, threaten to raise divorce rates with potentially catastrophic effects on both married and unmarried couples and their children”.