Going beyond workplace stressors: Economic crisis and perceived employability in relation to psychological distress and job dissatisfaction

The macroeconomic context and crisis management are now becoming salient issues among employees. Low levels of fear about the economic situation and the belief that one is capable of obtaining new employment may enable individuals to maintain mental health and job satisfaction in austere times. The aim of the present study is to investigate the relationship of fear of the economic crisis and nonemployability with job satisfaction and psychological distress, while controlling for demographics factors, stress exposures, and high conflict perceptions. This cross-sectional study was conducted in 3 Italian organizations comprising 679 workers with a response rate of more than 60%. Hierarchical regression analysis showed that, after controlling for demographics, psychological demands, lack of job control, and workplace bullying, low perceived employability and fear of the economic crisis were positively associated with psychological distress and negatively associated with job satisfaction. As an emerging topic of study, it appears that economic stress is an important construct in the nomological network for studying organizational health. The present study complements existing stress theories by suggesting that features of the external environment are relevant and important determinants of psychological distress and job dissatisfaction.