2. Recession Depression
• Recession depression is a new form of depression that is
linked to the current financial state of the world.
With a recession, the uncertainty of job security and financial security
can cause an increased level of stress, anxiety and depression related
symptoms.
The current economic recession has left many American workers feeling
chronically fearful, anxious and stressed about their jobs and financial
futures. Constant stress, however, can wear you down, leaving you
prone to depression.
Foreclosures, substance abuse, family battles and – worst of all –
widespread depression that some experts say has reached startling
proportions since the recession.
According to nearly all published lists of depression causes, stress
related change in the life is in the top three causes of depression. The
recession is a stress related life change.
3. Recession Depression: The Event
• Like many other forms of depression, recession depression is linked
to an external event. The feelings are often relaxed or intensified by
changes in that event.
• Having a new baby, for instance, can cause a deeper depression
when the time for the baby's arrival approaches than when the baby
was first announced.
• With a recession that ebbs and flows down a different path hourly,
the strain on the mental state can be difficult to control.
4. Dire Statistics
• With an estimated three-quarters of the 14 million unemployed
Americans out of work for more than six months and fully half out of
work for more than two years, many jobless Americans are falling into
despair as repeated attempts to find work come up short.
• About 9 percent of Americans were defined as clinically depressed in
data released last year 2011 by the Centers for Disease Control and
Prevention in Atlanta, compared to an estimated 6.6 percent in data collected
in 2001 and 2002.
• According to 2011 data collected mental illness costs society about $193
billion a year in lost earnings from absenteeism
• According to the latest research from Financial Literacy Partners, employees
spend an average of 20 hours per month financially distracted on-the-
job, costing employers $7,000 per-employee/per-year in lost productivity
5. The Environment: Unemployment
• As President Obama and Republican leaders argue over the best
way to reduce 9.1 percent unemployment and revive a near-
flatlining economy, less attention has been paid to the widespread
emotional and psychological damage caused by long-term
unemployment — and the drain it has on government resources and
workforce productivity.
• Many of these unemployed Americans cannot afford to seek
professional help because they lost their employee provided health
insurance with their jobs. At the same time, federal, state and local
governments have cut back on spending for mental health clinics
and outreach in response to budget crises spawned by the bad
economy.
6. Study: Long Term Unemployed
• A recently released, comprehensive study of the long-term unemployed by
Rutgers University’s John J. Heldrich Center for Workforce Development
found that 32 percent were experiencing a good deal of stress and another
47 percent said they had some stress associated with their joblessness.
Moreover, at least 11 percent reported seeking professional help for
depression in the past year.
One in two of the respondents in the two-year national study said they
have avoided friends and associates, largely out of a sense of shame
and embarrassment — a self-imposed isolation that hurt their ability to
network to find employment.
7. The Environment: Mental Health
It could get even worse if Medicaid funding of mental health services
is put on the chopping block as a congressional “” super committee”
hunts for spending cuts to help reduce the federal budget deficit.
Medicaid is the main source of funding of public mental health
services for young people and adults, accounting for nearly half of
state mental health budgets according to the National Alliance on
Mental Illness.
The nation faces “a silent mental health epidemic,” according to
Carl Van Horn, a professor of public policy and economics at Rutgers
and head of the Heldrich Center.
Losing a job is more than just a financial crisis for people,” Van Horn
said. “It creates numerous other damage, stress, anxiety, substance
abuse, fights and conflicts in the family and feelings of embarrassment
and depression.”
8. Typical Scenarios
• You’re 45, 50 years old, you’ve worked hard for the past 25 years,
and all of the sudden you’re on the street, or your friends disappear
like unemployment is a disease they can catch,” said Joel Sarfati,
the executive director of 40Plus of Greater Washington, an
organization that brings together unemployed middle aged
professionals for job training, resume building and much needed
moral support. “As this thing gets more drawn out, we see more and
more people fall into a deep funk or dark place.”
9. Case Scenario: Family Business
One case in point is Mark, a 62-year-old printing professional and
private business owner says he hasn’t slept through the night once
since the printing company he inherited from his father 40 years ago
Five months later, Mark continues to look for work at a printing company but accepts that he
may never find another job in the industry he has worked in for nearly 40 years. “It’s sad. It’s
unnerving, and I’m not quite sure how to handle everything,” he said.
Mark had always been the breadwinner in his family, his wife has not worked in 20 years his
dwindling savings account helps them keep up with their mortgage and health-care
payments, with little left over at the end of each month. In addition he has two kids in
college.
He has applied for retail sales associate jobs at places such as Best Buy and Sears, but he
hasn’t heard back. “I realize now that it’s a reality that no matter what I do, I won’t have what
I had before and will have to take a tremendous pay cut if I’m lucky enough to get any job,
and that’s depressing. . . . I’ve never felt that way before.”
10. Case Scenario: High Paid Executive
A 55-year-old former Internet technology executive named Jeff was financial
service company lost his $300,000-a-year job three years ago. He said he
wasn’t worried at first because he was confident he could land a contract to tie
him over until he found another full-time job. However, he began to panic when
nothing came through. The economy kept flattening and the competition for the
few available jobs grew fierce. “It was very, very bumpy,” he recalled recently.
“There were some very depressing periods in there. I’ve never felt such a
feeling of hopelessness. You think you did something wrong – it’s my fault.
You’re going to live in a dumpster.”
He sold their yacht and second home in Naples.
His wife is in denial and continues to lead a lifestyle they can no longer afford. She
continues is embarrassed, cannot tell her friends at the country club what is happening and
continues to drum up high credit card balances.
Jeff and his wife are constantly arguing and have spoken of separation
11. Case Scenario: Tatjana
The organization has helped Tatjana, a market research professional
who was laid off two years ago, to position herself for a career shift
from the private sector to the nonprofit development world working
with wildlife and environmental causes. The 40Plus group a
recruitment support organization, has also helped to mend her
wounded psyche after a grueling year-and-a-half of job hunting
reaped more rejection than she was prepared to handle.
Employers told me I was ‘overqualified,’ meaning I was too old,” said
the 52-year-old. “But I’m too young to retire, I’m ready to work, yet I’m
being treated like I’m over the hill. That was extremely jarring and very
demoralizing, and for a while there, I was definitely skirting
depression.”
12. Study: Suicide and Business Cycles
The overall suicide rate rises and falls in connection with
the economy, according to a Centers for Disease Control
and Prevention study released in 2011 by the American
Journal of Public Health.
The study, “Impact of Business Cycles on the U.S.
Suicide Rates, 1928–2011″ is the first to examine the
relationships between age-specific suicide rates and
business cycles.
o This study found the strongest association between business
cycles and suicide among men in prime working ages, 25-64
years old.
13. Suicide and Business Cycles
• Recession depression is not something to handle without
some sort of intervention either from a family member,
loved one or professional.
• The average suicide rate is 10 people per 100,000 a
year. In 1929, that number rose to 14 suicides per
100,000 people. The number rose again in 1933, the
heart of the Great Depression, to 17 suicides per
100,000 people in 2011.
• While many doctors believe suicide is linked to a mental
condition present before the time of stress, the recent
increase in suicides highlights the effect of recession
depression.
14. Recession Depression Triggers
Evidence identifies employment status as the most
important predictor of psychological distress.
Unemployment was associated with an increased risk of
suicide and death from undetermined causes.
United States statistics link suicidal behaviour with areas
of disadvantage.
Low education, personality characteristics, use of
sleeping pills or tranquilizers, and serious or long-
lasting illness tended to strengthen the association
between unemployment and early mortality.
The National Suicide Research Foundation (2008) draws
attention to the association of unemployment with a two
to three–fold increased risk of suicide among men.
15. Men- Vulnerable Population
• Difficulties in communicating problems is most evident
among all men (employed and unemployed).
• Men are less likely than women to engage in
preventative measures in relation to their mental health
• Interviews and Focus Groups with Men indicated:
– Impact of unemployment on self confidence
– Mainstream services; negative experiences and
further impacts on self-esteem
16. A New Reality
• No one person can change the current financial strength of a
country. The recession will continue until the United States and
many westernized countries dig out of the financial hole.
• Individuals may need to accept a new reality around their living and
work situation
• Our beliefs about working hard and moving ahead are no longer
applicable.
• Rediscover core values and began to place relationships and
experiences above material things.
• People are moving from scared to prepared: Changing their
spending and saving habits
17. Recession Depression: Financial Stress
• Whenever dealing with recession depression it is important to talk
with someone about the feelings they are currently dealing with.
• The effect of financial stress can be one of the most difficult to deal
with alone
• ‘Psychologists and therapists can help people focus on the more
positive aspects of life and finances and work through the problems
contributing to the recession depression.
• When someone is suffering from recession depression, the only
change that will help is a change to the current financial situation at
home and an increase in the feeling of job security.
18. Be Aware of Symptoms
According to University of Alabama at Birmingham Associate Professor Josh
Klapow, Ph.D. you can support your clients by first recognizing symptoms:
A chronic feeling of helplessness.
This is due to the realization that our beliefs about working hard and
moving ahead are no longer applicable.
A sense of shame.
We may believe we should have known what was coming and better
prepare ourselves for it.
For those of us who lost jobs and savings, the sense of shame stems
from not being able to support ourselves and our families; having to rely
on family and friends for help; having to sell our homes, downsize and
change our life styles.
19. Be Aware of Symptoms
A feeling of betrayal. This is similar to what children feel when their
parents, rather than taking care of them as they should, making them feel
safe and protected, betray and hurt them. As those children, we feel
unprotected, no longer trusting our "leaders" to have our best interests at
heart. Consequently, we are scared and alone.
A declining self-confidence. Even though we may know there isn't much
we could have done differently, we may tend to teake things personally.
A loss of self-identity. For most adults, our jobs and professions are the
main sources of identity. We are what we do - electricians, plumbers,
farmers, teachers - and when we can no longer do that, we feel like fish out
of water.
20. Somatic Problems
• Evidence demonstrates links between unemployment
and poor physical health.
Any one of the following cluster of symptoms/diagnoses
may lead to somatic problems such as insomnia, digestive
problems, cardiovascular disease, high blood pressure,
back problems, Shingles, Prostatitis, chronic headaches,
lack of energy and inability to concentrate and make
decisions.
Higher mortality in the case of pre- existing illness or
disability.
21. Mental/Emotional Impact
• In addition to depression and suicide as earlier noted,
marital dissolution, addictive behaviours including
alcohol misuse and cybersex addiction may surface
Social supports and a more even distribution of wealth
may be greater contributors to good health.
22. Therapy Options:
Combat Depression in Hard Economic Times
• There is a range of options available to combat depression during these
hard economic times.
• Determine whether the depressed individual is suitable for psychological, or
"talking," therapies.
23. Medication Therapy
• People with depression have what's called a negative cognitive filter, which
distorts all of their thoughts and perception of reality.
Essentially, all the negatives are magnified and there is an exaggerated
sense of low self-worth, whereas positives are ignored or twisted into
negatives.
As such, individuals may benefit from antidepressant medications,
prior to psychological therapies and counseling, to remove this cognitive
filter.
24. Counseling
The simplest form of treatment is counseling.
• This involves education about depression, as well as the
recession.
• It is important to emphasize that recessions have
happened in the past, and they tend to recover, thus
providing hope for the future.
• Education on depression should emphasize that
depression can be treated.
• Advice can also be sought in conjunction with a financial
advisor or other expert as well.
•
25. Counseling/Problem Solving
Counseling may also involve some problem-solving.
For example, if the client is struggling to payoff a large debt because
of the economic downturn, then the therapist and client work
together to:
(1) Define the problem - how much is the debt?
(2) Devise ways to solve the problem - could he/she cutback in other
areas? Should another loan be taken out?
(3) Test each of the solutions
(4) Review the outcomes of each solution
(5) Continue steps 2 - 5 until a solution is reached
26. Cognitive Behavior Therapy-CBT
• The next level of therapy, and the mainstay of depression treatment, is
cognitive behavior therapy (CBT).
• This is more intense than counseling, involving 2 to 3 sessions per week for
a few months, and involves a well-trained therapist, usually a psychiatrist.
CBT starts off similarly to counseling, with education.
27. Suggested Interventions
Interventions to reduce stress, rebuild hope and foster a feeling of
being more in control
1. Take charge/action, set goals and work at achieving them
Taking good care of one’s physical and *mental health.
Taking a good look at our diet /decide what we need to change to make it healthier.
Set up an exercise regime and stick to it
Work in the garden
Fix a problem ignored
Reconnect with a friend you were too busy to stay in touch with.
Whatever one chooses to do, the focus should be on a feeling a sense of
achievement and purpose by keeping busy and productive.
* Worry - falls into two categories: "unproductive" and "productive."
Unproductive worry is worry about things that you cannot control.
Productive worry, on the other hand, is worry about what you can control.
Use productive worry to motivate and take action to improve a situation rather than dwelling on what can't change.
28. Suggested Interventions
2. Stay focused on the present and avoid looking too far into the future.
– We project into the future how we feel in the present.
– Live in the moment
– When we are not in a good place, the future looks much more ominous and
scary, so what's the point of looking at it?
3. Set limits on media intake.
The media thrives on bad news. It keeps eyes on the TV screen and boosts
ratings. It also contributes to stress level /affects one’s outlook on the world.
Change channels if watching something intensive or anxiety provoking
especially as it gets closer to bedtime. Watch something positive and uplifting.
A good night's sleep is important in keeping one depression-free and functioning
at best.
29. Suggested Interventions
6. Avoid looking at the past.
What was is gone.
Thinking about it will make us sad or mad, and we may already be sad or mad.
7. Reorganize our priorities and eliminate that which one can do
without, focusing primarily on what is relevant.
8. Create good emotional connections.
It’s easier to get through tough times with someone by our side than doing it all
alone.
9. Practice gratitude.
There is always something to give thanks for, even when it seems like the world
is falling apart around you. Do you still have a roof over your head? Your health?
Enough food to eat?
Look for something, no matter how small, that you can express your gratitude
for. Feelings of gratitude can have a powerful effect on your mood
30. Suggested Interventions
10. Take Care of Yourself
Take time to take care of all aspects, mind, body and soul. Practice good self-
care and relieve stress
Do a relaxing breathing exercise
Don't be afraid to ask for emotional support from friends and family. If you are not
ready to take this step, however, Internet forums are a great way get support
anonymously.
Practice good sleep habits. Adequate rest is important in controlling stress and
preventing depression.
Wellness Helps Conquer
Recession Depression
31. Suggested Interventions
11. Be kind to yourself.
11. Rather than beating yourself up over your perceived shortcomings,
acknowledge that you are doing the best you can and forgive yourself.
12. Avoid dwelling on the negative.
11. Our thoughts are powerful.
12. We can actually talk ourselves into feeling depressed, simply by choosing to
focus on the negative.
13. Become aware of your negative thoughts and redirect your thinking in a more
positive direction.
13. Thank yourself for taking steps to improve your situation
No matter big or small those steps may be
As the Chinese philosopher Lao Tzu famously said, "A journey of a thousand
miles begins with a single step."
