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Lifecycle Events and Their ConsequencesJob Loss, Family Change, and Declines in Health$
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Kenneth A. Couch, Mary C. Daly, and Julie M. Zissimopoulos

Print publication date: 2013

Print ISBN-13: 9780804785853

Published to Stanford Scholarship Online: January 2014

DOI: 10.11126/stanford/9780804785853.001.0001

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PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 22 October 2019

Involuntary Job Transitions and Subjective Well-Being

Involuntary Job Transitions and Subjective Well-Being

Chapter:
(p.76) Chapter Five Involuntary Job Transitions and Subjective Well-Being
Source:
Lifecycle Events and Their Consequences
Author(s):

Ariel Kalil

Thomas DeLeire

Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804785853.003.0005

This chapter examines whether lasting reductions in earnings and wealth due to job loss have consequences on well-being beyond financial concerns. In particular, the analysis uses data from the Health and Retirement Study (HRS) to examine the impact of job loss on two different measures of self-reported psychological well-being, one meant to capture life satisfaction and another that gauges a person's sense of purpose in life. The research indicates that job loss, independent of a variety of background factors, reduces satisfaction by roughly 25 to 50 percent and that self-assessments by individuals of their purpose in life also typically declines by roughly 15 percent. This work suggests that job loss takes a toll on the nonfinancial as well as the financial well-being of individuals.

Keywords:   job loss, displacement, subjective well-being, HRS

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