Good for the soul: The relationship between work, wellbeing and psychological capital

Kenneth Cole, Anne Daly and Anita Mak

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2009, vol. 38, issue 3, 464-474

Abstract: Research shows that unemployment negatively affects a person's wellbeing, which in turn can impair their ability to regain employment. Studies also suggest a person's 'psychological capital' (PK) (personality traits that influence the productivity of labour) influences the impact of unemployment on wellbeing and facilitates re-employment. This paper combines various economic and psychological theories of unemployment, and using 2004 cross-sectional data from Australia, tests the hypothesis of a simultaneous relationship between employment status and wellbeing and the mediating role of PK. Results support a simultaneous relationship and the partial mediating effect of PK. Individuals with poor PK are at greater risk of being unemployed.

Keywords: Unemployment; Personality; Wellbeing (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:38:y:2009:i:3:p:464-474

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