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Our Well-Being is Strongly Linked to Employment Status

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We are used to looking at traditional indicators of how an economy — and the people in it — are doing.  The unemployment rate is one, GDP and the rate of inflation also readily come to mind.  Perhaps one of the better indicators to assess how people are feeling amidst all the points of data, is their self-defined assessment of their well-being.  Gallup tracks well-being globally, and just released a new set of figures yesterday.

The unemployed report only 3% less "well-being" than the fully employed.

The unemployed report only 3% less "well-being" than the fully employed.

The headline from our perspective?  The fact that one of the key indicators determining a person’s assessment of their well-being is employment status.

Quoting Gallup, “…people with “good jobs,” those who are employed full time for an employer, tend to have the highest wellbeing of those in the workforce. They are more likely to be “thriving” than those who are self-employed, employed part time looking for full-time work, or unemployed.” One interesting result in their data is that the lowest category of respondents, the unemployed, rated their well-being only 3 points below the fully employed (in advanced countries).

Now I don’t want to read too much into that — but shouldn’t the felt-sense of well-being for the fully employed be a bit higher? Check out the survey here.

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