The Economic Recession – Changing More Than Just Our Bank Balance

Faye Prior | 2014-05-10 13:33:00

Since the economic recession landed in 2008, the UK government has been trying to rebuild the economy and create jobs for the unemployed. But George Osborne appears to have overlooked the protection of a vital component that was hit by the recession, our mental health.

Financial health and mental health are two twins that can’t go anywhere without each other, and it’s no surprise that rates of stress, anxiety, and depression have risen as our purse strings have been tightened (WHO, 2011). Poor physical health has also risen, in both the employed and unemployed. Maybe this comes as no surprise either, as the reduced public expenditure on health care services affects the capacity to protect population health (Astell-Burt & Feng, 2013; McDaid et al., 2013).

There was already a higher unemployment rate in those with mental health conditions compared to other health conditions, particularly due to stigmatisation, with unemployment affecting the course and outcome of mental illness. Unfortunately the competitive job market has exacerbated this problem as those with pre-existing mental health problems seem to have been hit the hardest by the economic recession. Between 2006 and 2010, the rate of unemployment rose twice as much in those with mental health problems, compared to those without (Evans-Lacko et al., 2013). Maintaining social connections during periods of financial strain can protect against the development of depression and anxiety (Frank et al., 2013), however this is a period during which social exclusion is more likely to be intensified. Together with changes in employment and the cost of living, the effects of the recession on every aspect of life can spiral in to a vicious cycle of declining mental health, further financial strains, and further depression.

Given the burden of mental health conditions worldwide, this is probably a time at which we should be directing more money towards mental health care rather than taking it away. These conditions are the leading cause of healthy life years lost, and the economic burden of mental illness is projected to top the list of diseases, costing more than those such as cardiovascular disease and cancer. By 2030 the global cost is projected to be 6.0 trillion US dollars, with two thirds of these costs being indirect costs to society (Bloom et al., 2011). This seems like a backwards logic, as by cutting public health expenditure the future costs of health to society will be larger than ever. Perhaps it is time to factor in the health of the population when trying to recession proof our future.

Faye Prior (Researcher)

Sources

Astell-Burt, T. & Feng, X. (2013). Health and the 2008 Economic Recession: Evidence From the United Kingdom. PLos One, 8(2), e56674.

Bloom, D. E., Cafiero, E. T., Jané-Llopis, E., Abrahams-Gessel, S., Bloom, L. R. et al. (2011).

The Global Economic Burden of Noncommunicable Diseases. Geneva: World Economic Forum. http://www3.weforum.org/docs/WEF_Harvard_HE_GlobalEconomicBurdenNonCommunicableDiseases_2011.pdf

Evans-Lacko, S., Knapp, M., McCrone, P., Thornicroft, G. & Mojtabai, R. (2013). The Mental Health Consequences of the Recession: Economic Hardship and Employment of People With Mental Health Problems in 27 European Countries. PLos One, DOI: 10.1371/journal.pone.0069792.

Frank, C., Davis, C. G. & Elgar, F. J. (2013). Financial Strain, Social Capital, and Perceived Health During Economic Recession: A Longitudinal Survey in Rural Canada. Anxiety Stress & Coping, DOI: 10.1080/10615806.2013.864389.

McDaid, D., Quaglio, G., Correia de Campos, A., Dario, C., Van Woensel, L. et al. (2013). Health Protection in Times of Economic Crisis: Challenges and Opportunities for Europe. Journal of Public Health Policy, 34(4), 489-501.

WHO. (2011). Impact of Economic Crises on Mental Health. http://www.euro.who.int/__data/assets/pdf_file/0008/134999/e94837.pdf