Cited by 188Employment and Welfare StudiesRetirement, Disability, and EmploymentWorkplace Health and Well-being

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Job loss, wealth and depression during the Great Recession in the USA and Europe

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Riumallo-Herl, Carlos, Basu, Sanjay, Stuckler, David, Courtin, Emilie, Avendano, Mauricio·2014·International Journal of Epidemiology

DOI 10.1093/ije/dyu048PMC PMC4190512

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Abstract

AIM: To examine whether late-career job loss increased depression among older workers approaching retirement in the USA and Europe. METHODS: Longitudinal data came from the Health and Retirement Survey and the Survey of Health, Ageing, and Retirement in Europe. Workers aged 50 to 64 years in 13 European countries and the USA were assessed biennially from 2006 to 2010. Individual fixed effects models were used to test the effect of job loss on depressive symptoms, controlling for age, sex, physical health, initial wealth and socio-demographic factors. RESULTS: Job loss was associated with a 4.78% [95% confidence interval (CI): 0.823% to 8.74%] increase in depressive symptoms in the USA compared with a 3.35% (95% CI: 0.486% to 6.22%) increase in Europe. Job loss due to a worker's unexpected firm closure increased depression scores in both the USA (beta=28.2%, 95% CI: 8.55% to 47.8%) and Europe (beta=7.50%, 95% CI: 1.25% to 13.70%), but pooled models suggested significantly stronger effects for US workers (P<0.001). American workers who were poorer before the recession experienced significantly larger increases in depressive symptoms compared with wealthier US workers (beta for interaction=-0.054, 95% CI: -0.082 to -0.025), whereas pre-existing wealth did not moderate the impact of job loss among European workers. CONCLUSIONS: Job loss is associated with increased depressive symptoms in the USA and Europe, but effects of job loss due to plant closure are stronger for American workers. Wealth mitigates the impact of job loss on depression in the USA more than in Europe.

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Authors: Riumallo-Herl, C., Basu, S., Stuckler, D., Courtin, E., & Avendano, M.
Affiliations: University of Oxford (GB)
ORCID: Basu, Sanjay
Venue: International Journal of Epidemiology
Publisher: Oxford University Press (OUP)
Published: 2014-06-14
Volume: 43
Issue: 5
Pages: 1508-1517
ISSN: 0300-5771 (ISSN-L)
1464-3685
DOI: 10.1093/ije/dyu048
PMC: PMC4190512
OpenAlex: W2116936605
Cited by: 188
References: 44
Citations by year: 2026: 6 · 2025: 5 · 2024: 11 · 2023: 11 · 2022: 14 · 2021: 12 · 2020: 11 · 2019: 10 · 2018: 17 · 2017: 49 · 2016: 18 · 2015: 18 · 2014: 6
FWCI: 54.37
Type: journal article
Language: en
Open access: bronze
doi.org
Locations: International Journal of Epidemiology (publishedVersion)
PubMed Central (publishedVersion)
PubMed (publishedVersion)
Research Portal (King's College London) (publishedVersion, other-oa)
EUR Research Repository (Erasmus University Rotterdam) (publishedVersion)
EUR Research Repository (Erasmus University Rotterdam) (submittedVersion)
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Funders: John D. and Catherine T. MacArthur Foundation
Wellcome Trust (100709)
European Commission (261982, IAG BSR06-11, QLK6‐CT‐2001‐ 00360, RII-CT- 2006-062193, P01_AG08291, SHARE-I3: RII-CT-2006-062193, SHARE M4, SHARE-I3, U01 AG09740-13S2, P30 AG12815, CIT5-CT-2005- 028857, R21_AG025169, P01 AG005842, 211909, OGHA 04-064, CIT4-CT-2006-028812, Y1-AG-4553-01, 227822, COMPARE: CIT5‐CT‐2005‐028857, SHARELIFE: CIT4-CT-2006–028812)
National Institutes of Health (2p30ag012815-16)
National Institute on Aging (U01 AG09740-13S2, P01 AG005842, P01 AG08291, P30 AG12815, R21 AG025169, Y1-AG-4553-01, IAG BSR06-11 and OGHA 04-064, OGHA 04- 064, CIT5-CT-2005-028857, IAG BSR06-11 and OGHA 04-064, R01AG037398, U01 AG09740‐13S2, P30AG12815, AG09740, 261982, QLK6-CT-2001-00360, P01AG008291, P30AG012815, R01AG040248, BSR06-11, CIT4-CT-2006-028812, 227822, IAG BSR06- 11, R21AG025169, AG005842, 211909, RII-CT-2006-062193, P01AG005842, U01AG009740, Y1-AG-4553–01)
FP7 Ideas: European Research Council (263684)
Topics: Health Sciences › Medicine › Public Health, Environmental and Occupational Health › Employment and Welfare Studies
Social Sciences › Demography › Retirement, Disability, and Employment
Health Sciences › Medicine › Public Health, Environmental and Occupational Health › Workplace Health and Well-being
Keywords: job loss, depression, depressive symptoms, Great Recession, older workers, retirement, business closures, plant closures, wealth, socioeconomic status, United States, Europe, cross-national comparison
MeSH terms: Aging, Depression, Europe, Female, Humans, Male, Mental Health, Middle Aged, Surveys and Questionnaires, Retirement, Socioeconomic Factors, Stress, Psychological, Unemployment, United States, Economic Recession

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Job loss, wealth and depression during the Great Recession in the USA and Europe

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