Work is more than a paycheck: losing a job can cost you years of lifeThe Latent Benefits of Work

The White House Council of Economic Advisers devoted a whole chapter of the 2026 Economic Report of the President to a simple claim: work is not just about earning money. It is also a source of health, happiness, skills, and social relationships.

Losing your job can literally kill you

Data shows that displaced workers have a 50-100% higher risk of dying in the years that follow, losing on average 1 to 1.5 years of life expectancy. This holds even in Sweden and Denmark, which have universal healthcare. So it is not about losing access to doctors; the stress and social disruption of being fired do the damage.

Even retirement can shorten your life. People who retire right at age 62, the moment Social Security kicks in, see their mortality risk jump by 2% immediately, despite having a pension. Apparently, for many people, work is not just a grind.

Is work actually more fun than leisure?

Researchers handed subjects beepers and asked them to record what they were doing and feeling at random moments. Turns out people report more happiness, engagement, and energy while working than when they are off the clock. Long-term unemployment, not short spells, is what depresses people. It is not being busy that matters; it is knowing you will be busy tomorrow.

The cubicle is an invisible college

Workplace learning happens at the water cooler, debugging code together, watching a colleague handle a tough client. Each additional year of early-career experience raises annual earnings by 3-3.6% over the rest of your career—more than $80,000 in extra lifetime income for the average worker, measured in today's dollars.

Coworkers may be your closest allies

Many people meet their best friends at work. Lose your job and the social network frays. The damage spreads to families: when layoffs are widespread, marriages drop, single-parent households rise, and birth rates stall.

In short, work is more than a contract between employee and employer. It props up your health, your mood, your skills, and your social life. Economies need people to move between jobs, but there is a world of difference between leaving for a better offer and being shown the door.