Financial crisis hits men's health

appointments/financial-crisis/global-financial-crisis/

12 June 2009
| By Mike Taylor |
image
image image
expand image

The recession is undermining more than personal wealth, it is also impacting men’s health.

That is the bottom line assessment of IBISWorld general manager Robert Bryant, who believes the stresses generated by the global financial crisis have combined with a higher prevalence of heart disease, mental health and obesity issues to impact Australian men.

“The leading cause of death in men is coronary heart disease, and excessive stress levels are a significant contributing factor,” he said. “Rising unemployment means many people are working longer hours to impress their bosses and opting out of taking annual leave amid concerns their job may not be there when they return.”

Bryant said this was particularly common among men whose self-worth was closely tied to their career and ability to provide for their family.

“While burning the midnight oil at their desks may help them hold onto their jobs, long hours and not enough time off have been linked to major health problems such as heart attack and cardiovascular disease, obesity, alcoholism, anxiety and depression,” he said.

Bryant said growing fears about unemployment could also cause more men to skip doctor appointments or preventive health checks for fear of taking unnecessary time off work and to eat unhealthy foods because they are working late or under pressure to try and save money.

“Put it all together and the picture is not pretty,” he said.

“As for younger Australian men, IBISWorld predicts that weaker employment prospects and job insecurity will see more and more men living with their parents for longer.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

1 day 7 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 2 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 5 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5