Here’s some more rough news about America’s unemployed: The longer Americans are out of work, the greater the risk that they will become depressed.
That’s according to new data released from Gallup from a yearlong survey of 356,599 Americans. The risk of depression gets especially severe at unemployment’s high end:
While the total incidence of depression for all unemployed people (12.4 percent) is nearly twice that of all employed people (6.4 percent), it’s even grimmer for Americans who have been out of work for months. The long-term unemployed — people who have been out of a job for at least 27 weeks — are nearly three times as likely to be depressed than people who are working:
This isn’t just about feeling glum. As the American Psychological Association points out, the unemployed are more than twice as likely as those with jobs to be not just depressed, but also to suffer from “anxiety, pyschosomatic symptoms, low subjective well-being and poor self-esteem.”
Emotional depression has a sizable impact on the broader economy. A 2003 study in the Journal of Clinical Psychology found that depression costs the U.S. economy tens of billions of dollars annually, in part because of “direct treatment costs, lost earnings due to depression-related suicides, and indirect workplace costs.” The costs could be particularly high now, especially when you keep in mind that the number of long-term unemployed Americans was at 3.4 million in May, nearly unchanged from April. That group makes up 34.6 percent of all unemployed Americans.
With Congress still trying to figure out unemployment-insurance extensions, it’s hard to see this picture getting any rosier too soon. But hey, it’s not just the unemployed who suffer: As a 2013 Gallup survey found, depression has a big impact on the lives of employed workers, too.
What We're Following See More »
"Like Donald Trump himself, the Trump campaign’s new national finance chairman has a long history of contributing to Democrats—including Hillary Clinton. Private investor Steven Mnuchin, Trump’s new campaign fundraising guru, has contributed more than $120,000" to candidates since 1995, about half of which has gone to Democrats.
Paul Ryan told CNN today he's "not ready" to back Donald Trump at this time. "I'm not there right now," he said. Ryan said Trump needs to unify "all wings of the Republican Party and the conservative movement" and then run a campaign that will allow Americans to "have something that they're proud to support and proud to be a part of. And we've got a ways to go from here to there."
The Daily Beast has unearthed a piece that Donald Trump wrote for Gear magazine in 2000, which anticipates his 2016 sales pitch quite well. "Perhaps it's time for a dealmaker who can get the leaders of Congress to the table, forge consensus, and strike compromise," he writes. Oddly, he opens by defending his reputation as a womanizer: "The hypocrites argue that a man who loves and appreciates beautiful women (and does so legally and openly) shouldn't become a national leader? Is there something wrong with appreciating beautiful women? Don't we want people in public office who show signs of life?"