The recent firing and furloughing of federal workers and contractors by the Trump administration have had far-reaching economic consequences, causing hardship for many Americans. However, the impact goes beyond just financial strain and can have serious implications for physical and mental health.
As a professor of social work who specializes in the relationship between finances and well-being, I have conducted research that highlights the detrimental effects of job loss on health. It’s not just the financial implications of losing a job that can harm individuals, but also how they perceive and react to the situation.
Studies have shown that the way individuals view their financial circumstances, whether as a temporary setback or a catastrophic event, can significantly impact their health. In fact, the perception of financial hardship can have a greater impact on health than the actual financial changes themselves.
Research from a study I conducted in collaboration with another scholar revealed that the emotional response to a decline in income mattered 20 times more than the financial change itself. This underscores the importance of understanding the psychological and emotional aspects of financial insecurity in relation to health outcomes.
Financial precarity, characterized by both the technical aspects of financial strain and the emotional distress it causes, can contribute to a range of health issues. The stress of financial worries can manifest in physical symptoms such as high blood pressure, back pain, and obesity, while also impacting mental health with symptoms of anxiety, depression, and lower self-esteem.
Individuals facing financial challenges may resort to unhealthy coping mechanisms like substance abuse, gambling, or excessive shopping, which can further exacerbate their financial and health problems. Maintaining healthy habits, seeking social support, and engaging in positive coping strategies can help mitigate the negative impact of job loss on health.
Overall, it’s essential for individuals to prioritize self-care, seek support from loved ones, and explore opportunities for networking and skill-building during challenging times. By taking proactive steps to safeguard their physical and mental well-being, individuals can navigate the hardships of job loss with resilience and positivity.
