A boring truth: the key to health and wealth is full-time work
Although the connection between unemployment and negative health outcomes is well-established (Kasl & Jones, 2007), decreases in the number of secure, full-time jobs, and general changes in the workforce over the past several years call into question associations of employment status with mental and physical health, as they may differ from past decades (Bambra, 2010).
There has been increasing interest not only in unemployment, but in the continuum of employment, including those who are underemployed (e.g., working part-time involuntarily) or experience job insecurity (Dooley, 2003; Kasl & Jones, 2007). Inadequate or underemployment is associated with increased depression and alcohol use, lowered self-concept and functional health, and increased chronic disease (Dooley, Prause, & Ham-Rowbottom, 2000; Friedland & Price, 2003).
Being employed full-time, on the other hand, is associated with lower levels of stress and depressive symptoms, more frequent healthy eating, less frequent unhealthy eating, more physical activity, less cigarette smoking, and less alcohol consumption, compared with being unemployed or working part-time.
Results suggest the importance of full-time employment (not just any employment) for health and well-being. The effects of employment status did not vary by gender or race/ ethnicity in this sample. With increasing numbers of women in the workforce, results suggest employment status is just as important to mental health and health behaviors for women as for men. However, these findings may vary by health outcome and social context and should continue to be explored.
Full-time employment often provides a stable income that can positively impact health outcomes. Having a steady income allows individuals to afford better healthcare, access nutritious food, and live in healthier environments. Financial stability can reduce stress levels associated with financial insecurity, which can have a positive impact on overall well-being.
Additionally, many full-time jobs offer health insurance benefits, which can provide individuals with access to medical services, preventive care, and treatments. Health insurance coverage can be essential in managing and addressing health issues effectively, as it reduces the financial burden of healthcare expenses.
Beyond health, full-time employment can provide individuals with a stable income stream, benefits, and opportunities for career advancement, which can be instrumental in wealth accumulation.
Income Generation: Full-time employment often offers a steady source of income, allowing individuals to cover their living expenses, save money, and invest in assets that can appreciate over time. This consistent income stream provides a foundation for building wealth.
Saving and Investing: With a full-time job, individuals have the potential to save a portion of their income regularly. Saving money is an essential step toward building wealth, as it provides a pool of capital for investment purposes. Investing wisely in stocks, bonds, real estate, or other financial instruments can generate additional income and asset growth, leading to long-term wealth creation.
Employer Benefits: Many full-time jobs come with benefits such as retirement plans (e.g., 401(k)), health insurance, and employee stock purchase programs. These benefits can help individuals accumulate wealth over time by providing avenues for tax-advantaged savings, access to investment opportunities, and potential company contributions.
Career Advancement: Full-time employment often offers opportunities for career growth and higher earnings. As individuals gain experience, develop their skills, and climb the career ladder, they may see their income increase significantly. Higher income can accelerate wealth accumulation and open doors for additional investment opportunities.
Time Horizon: Full-time employment typically implies a longer time horizon for wealth building compared to part-time or gig work. Consistently working full-time over several years or decades provides individuals with more opportunities to save, invest, and benefit from the compounding effects of long-term investments.
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