A new article from the ‘Health’ section of Newsweek magazine explores how the gloom and doom of current economic news might have a real physical effect on us. The fear of losing one’s job is a daily concern for many Americans and the physical and mental health consequences are now being documented by social science research.

A psychologist weighs in…

Layoffs create a sense of hopelessness. Stress-related complaints such as insomnia and headaches tend to follow, lingering even after victims find new jobs, says University of Michigan psychologist Richard Price, who tracked more than 700 layoff victims for two years. Research based on 17 years of Pennsylvania unemployment records concluded that employees affected by a mass layoff at a plant were 15 percent more likely to die of any cause over the next two decades. Experts blame the cascade of misfortune that often ensues after a layoff, including the loss of health insurance.

The sociological perspective…

Your health can suffer simply from fear of losing your job, says Sarah Burgard, a sociologist at the University of Michigan. After crunching data from two large national surveys, she concluded that chronic job insecurity over a two-year period rivals the anxiety of a job loss or a major illness. Burgard adjusted her data for what psychologists call “neuroticism” and found that even people who aren’t typically worriers report worse health when they believe their jobs are in danger. Fears of poor job prospects may have similar consequences. 

Full story.