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

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 unempl...

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Bibliographic Details
Published in:The Journal of socio-economics 2009-06, Vol.38 (3), p.464-474
Main Authors: Cole, Kenneth, Daly, Anne, Mak, Anita
Format: Article
Language:English
Subjects:
Australia
Correlation analysis
Cultural Capital
Employment
Happiness
Personality
Psychology
Studies
Unemployment
Unemployment Personality Wellbeing
Well Being
Wellbeing
Work
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Summary: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.
ISSN:1053-5357
2214-8043
1879-1239
2214-8051
DOI:10.1016/j.socec.2008.10.004