Cutthroat competition, rise and fall in the business sphere are not the only threats that the world-economy is constantly grappling with but depression is also foraying into its foundation. Proving this fact further, a new study unveils that depression costs $10b a year. This conclusion is based on the facts that came out during an analysis of about 90,000 workers at 60 of the nation’s biggest firms.
Study’s fact: At a glance:
• One in 20 employees was at very high risk of a mental health disorder.
• Women were comparatively more vulnerable to mental health disorders than men.
• An unwell man costs an average of about $8500 a year.
• While unwell woman costs about $2300 in a year.
• Mental health disorder results in $9.6 million productivity loss, nationwide.
• Only 20 per cent of the employees with mental health disorders were receiving treatment.
• 5.6 per cent of men and 6 per cent of women were at very high risk of having a mental health disorder.
• People required to work more than 60 hours a week were at greatest risk.
• Those who were suffering mental illness cost their company more, about $25,000 a year.
These figures bring to light quite a gloomy picture of the mental health situation, prevailing in Australia. In addition, they also confirm the fact that Australian economy is severely being targeted by the phobia called, depression. However, it is worth mentioning that Australia is not the only country where working class is grappling with depression or other mental disorders, but there are many other countries, where depression rate, especially among the working class is fast burgeoning. And the direct implication of this depression in workplace is befalling on the productivity of the employees. According to an estimate, there are about 400 million people with disabling neuro-psychiatric condition, among which depression alone is expected to become the second highest cause of death worldwide after coronary artery disease.
Looking at the present scenario it could be asserted that countries like America, UK, Australia, and China are comparatively more vulnerable to depression, which indirectly shows that threat to the economies of these countries is comparatively greater. It is quite unfortunate that a major chunk of people, suffering from depression do not having access to drugs and treatments that are essential to restore mental health, as states a report by WHO. According to this report, only about 18% of patients with mental health disorders get correct and specific treatment. Putting more light on the worldwide situation of depression the same report estimates that annually, about 33.4 million people suffer from severe depression, which is quite a serious issue.
Looking at the rising tide of depression cases and its impact on the world economy, it could be asserted that taking hard measures to check this rise in depression is must as it will not only help ensuring our victory on the health front but on economic front too by checking the decline in the productivity of the workforce, which is being imperiled by the phobia called, depression.
Via: Border Mail
