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<p>This paper reviews some of the extensive literature on the relationship between unemployment and subjective well-being. The lower life satisfaction of the unemployed is one of the most robust findings in quality-of-life analysis. However, the focus on the contemporaneous effect of own unemployment likely does not reflect the full societal well-being cost of job loss. For the individual, well-being losses continue for many years after their unemployment spell has ended. In addition, one person’s unemployment spills over to the well-being of others. We in particular discuss how both of these spillovers – within individuals and between individuals may transit via the fear of future job loss – job insecurity. Taken together, these findings suggest that the full societal burden of unemployment is broader, deeper, and more enduring than suggested by simple contemporaneous estimates.</p>

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The Wider Well-Being Consequences of Own and Others’ Unemployment

  • 期刊论文

  • 发表日期：

    2026年3月10日

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  • Andrew E. Clark,
  • Anthony Lepinteur

摘要

This paper reviews some of the extensive literature on the relationship between unemployment and subjective well-being. The lower life satisfaction of the unemployed is one of the most robust findings in quality-of-life analysis. However, the focus on the contemporaneous effect of own unemployment likely does not reflect the full societal well-being cost of job loss. For the individual, well-being losses continue for many years after their unemployment spell has ended. In addition, one person’s unemployment spills over to the well-being of others. We in particular discuss how both of these spillovers – within individuals and between individuals may transit via the fear of future job loss – job insecurity. Taken together, these findings suggest that the full societal burden of unemployment is broader, deeper, and more enduring than suggested by simple contemporaneous estimates.