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.
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Volume (Year): 38 (2009) Issue (Month): 3 (June) Pages: 464-474 Download reference. The following formats are available: HTML
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