Elusive effects of unemployment on happiness
Petri Böckerman () and
Pekka Ilmakunnas ()
Labor and Demography from University Library of Munich, Germany
This paper explores the connection between unemployment and subjective well-being in Finland by using cross-sections for the years 1990, 1996 and 2000 from World Values Surveys. An unprecedented increase in the national unemployment rate (from 3 to 17 per cent) did not produce a drop in the mean level of subjective well-being. Experiencing unemployment personally reduces life satisfaction, but does not have a significant effect on happiness in ordered logit estimation. However, generalized ordered logit estimation reveals that being unemployed has a negative effect on happiness at lower happiness scores, but no significant effect at high happiness levels.
Keywords: happiness; unhappiness; life satisfaction; unemployment (search for similar items in EconPapers)
JEL-codes: C30 J28 J31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-dcm and nep-lab
Note: Type of Document - pdf; pages: 16
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Journal Article: Elusive Effects of Unemployment on Happiness (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpla:0504008
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