The impact was particularly among those over 64 and people above 25 without a college degree
Periods of economic downturn have several downsides, but a recent report from the National Bureau of Economic Research finds recessions may increase human lives.
People faced financial strains and unemployment and lost their savings in the Great Recession of 2008. However, research suggests it had an unexpected positive outcome: lower mortality rates in the US.
The research, led by health economist Amy Finkelstein, found that for every 1% increase in unemployment, mortality rates dropped by 0.5% between 2007 and 2009, particularly among those over 64 and people above 25 without a college degree.
The report said, “These mortality reductions appear immediately,” and lasted for at least 10 years.
How?
The reduction in mortality was primarily attributed to cleaner air due to decreased pollution during the recession, resulting in significant health benefits.
Loss of employment, factory shutdowns, and less spending during the economic downturn reduced emissions. The report determined that counties with the largest job losses also saw the biggest boost in air quality.
The research underscores the complex relationship between economic activity, environmental health, and human well-being.