Be Forewarned

Frank,
Please post the following.

Most of us don't know when the axe will fall, but we have the ability to reduce the damage to ourselves. The following article by Tom Jacobs while sobering, can be taken as being forewarned to what could befall us.
-Anonymous

Getting Laid-Off May Lead to Early Death -- But There Are Ways to Cushion the Severe Health Impact of Job Loss

By Tom Jacobs, Miller-McCune.com. Posted July 1, 2009.

Studies show that the current economic climate may be eroding months or even years from the lives of those on the bleeding edge of insecurity.

When you lose your job, with no prospect of finding another one quickly, you give up a lot more than income. You are deprived of a sense of security, a source of self-esteem, a certain status in the community. And, according to recent research, you also lose something even more precious: a year or more of your life.

That's the conclusion of two prominent economists, Daniel Sullivan of the Federal Reserve Bank of Chicago and Till von Wachter of Columbia University. Matching death records with employment and earnings data of Pennsylvania workers from the 1970s and '80s, they found mortality rates for high-seniority male workers spike sharply in the year following an involuntary job loss, and they remain surprisingly high two decades later.

If this higher death rate persists into old age, it implies "a loss in life expectancy of 1 to 1.5 years for a worker displaced at age 40," the researchers report. Or as von Wachter puts it more informally: "We were convincingly able to show that if you lose your job, you die earlier."

But the risk of premature death isn't limited to those who have actually been let go. A growing body of research suggests a nagging, persistent fear of losing one's job is also detrimental to one's health. University of Michigan sociologist Sarah Burgard, who has extensively studied the relationship between job loss, job insecurity and health, calls this "the waiting-for-the-other-shoe-to-drop problem." Given the current state of the economy, many people are anxiously awaiting the thud of that falling footwear.

In recent months, official Washington has been consumed by two issues: jobs and the economy, and the cost and availability of health care. But there has been surprisingly little discussion regarding the ways in which they intersect. A series of recent studies not only provide evidence these public-policy problems are interrelated: They also suggest that if, as many fear, long-term job security is largely a thing of the past, the public health consequences could be enormous.

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[Read the full article here.]