Economic crises lead to high suicide rates among men: Study

A new study has revealed a link between economic crises and the increased rate of suicides, especially among men.

Researchers from Canada and the UK came together to analyse data from 100 papers, focused on economic crises like the 2008 global crash, along with health papers to study their impact on the well-being of the masses.

Key revelations

The observations revealed that suicide rates saw a significant increase during and after a financial crisis, predominantly among men.

Employment status also acted as a major factor, with those unemployed experiencing increased risks of falling prey to negative thoughts and mental illness.

However, employment didn’t necessarily shield people from stress and anxiety, most likely due to increased burden and pressure.

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All in all, suicide attempts escalated both for men as well as women.

Notably, women faced a greater risk of adverse mental health outcomes compared to men.

It was noted that financial crises led more people to visit hospitals for mental health issues, especially women and those with lower incomes. 

“This review confirms the undeniable impact of national and international financial crises on population-level mental health and well-being,” says study lead author Deborah Talamonti, a researcher affiliated with the University of Montreal, in a media release. 

“The studies included in our review show the long-term repercussions of financial crises and highlight the crucial and urgent need for social support and welfare systems to safeguard the mental health of individuals,” Talamonti added.

Urgent govt interventions needed

The study authors have now called on the governments to develop mechanisms to assist individuals, especially during financial declines.

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“What’s needed is enough funding from governments to reinforce health care systems, especially mental health services,” explains study senior author Mark Forshaw, a health psychology professor at Edge Hill University.

“People will then get the support they need when countries are in financial meltdown. Education campaigns to empower people to identify potential symptoms and awareness-raising about the consequences of economic crashes are also required,” he added.

(With inputs from agencies)