%0 Book Section %B Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health %D 2013 %T Involuntary Job Transitions and Subjective Well-Being %A Ariel Kalil %A Thomas DeLeire %E Kenneth A. Couch %E Mary C. Daly %E Julie M Zissimopoulos %K Employment and Labor Force %K Expectations %K Other %X This chapter examines whether lasting reductions in earnings and wealth due to job loss have consequences on well-being beyond financial concerns. In particular, the analysis uses data from the Health and Retirement Study (HRS) to examine the impact of job loss on two different measures of self-reported psychological well-being, one meant to capture life satisfaction and another that gauges a person's sense of purpose in life. The research indicates that job loss, independent of a variety of background factors, reduces satisfaction by roughly 25 to 50 percent and that self-assessments by individuals of their purpose in life also typically declines by roughly 15 percent. This work suggests that job loss takes a toll on the nonfinancial as well as the financial well-being of individuals. %B Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health %I Stanford University Press %C Stanford, CA %P 76-96 %G eng %4 job loss/displacement/subjective well-being %$ 999999 %! Involuntary Job Transitions and Subjective Well-Being