Great Recession Mental Health Impact (2008-2010)
2008-2010What Happened
The 2008 financial crisis triggered the worst economic downturn since the Great Depression. Unemployment peaked at 10%, foreclosures displaced millions of families, and economic anxiety spread across all demographics. Young adults entering the job market faced especially bleak prospects.
Outcome
Depression, anxiety, and substance use disorders increased roughly 1.5 times during the recession. Suicide rates rose at more than four times the pre-crisis pace, with over 4,500 excess suicide deaths linked to the economic shock.
Research established that economic downturns produce measurable mental health deterioration, particularly among younger adults and those without strong safety nets. These findings inform current concerns about potential future recessions.
Why It's Relevant Today
The Great Recession demonstrates how external economic shocks can reverse mental health gains. As college mental health improves post-pandemic, economic instability remains a risk factor that could interrupt recovery.
