ABSTRACT
Economic stress affects people across the economic spectrum from the working poor to those earning high salaries but in dire economic circumstances due to debt, poor financial management, or other concerns. An extensive body of research shows that economic stressors are related to both adverse health outcomes as well as poor outcomes at work. Given the amount of time people spend working and the economic significance of work to their lives, this is a critical issue that requires further research attention as well as social policy and organizational intervention efforts. We describe four broad classes of economic stressors based on whether they are objective or subjective (i.e. perceived by the individual) and whether they concern the individual’s job or their financial resources and demands. We then describe several types of economic stressors including (1) income deprivation (insufficient income or extensive debt), (2) unemployment (i.e. losing a job), (3) subjective financial stress (i.e. perceptions of insufficient income), (4) underemployment (working in a job that is below one’s training/qualifications), and (5) job insecurity (worries about losing one’s job in the future). In each case we briefly define the term, discuss its unique properties and cite research linking it to health outcomes. We conclude by recommending several practical courses of action to help employees and their employers reduce economic stress and minimise its consequences.
