Financial Hardship (Socio Economic Status)
Socioeconomic status (SES) underlies three major determinants of health: health care, environmental exposure, and health behavior. In addition, chronic stress associated with lower SES may also increase morbidity and mortality.
SES affects overall human functioning, including our physical and mental health. Low SES and its correlates, such as lower educational achievement, poverty and poor health, ultimately affect our society. Inequities in health distribution, resource distribution, and quality of life are increasing in the United States and globally. Society benefits from an increased focus on the foundations of socioeconomic inequities and efforts to reduce the deep gaps in socioeconomic status in the United States and abroad.
Did you know?
- The poverty threshold for a family of four living in the US in 2020 was $26,200/year
- 5 million (23%) of them were working poor, meaning they worked or tried to find work 27+ weeks/year, but whose income fell below the federal poverty line.
- Contrary to many people’s preconceptions, the majority of people between the ages of 18-24 who were unemployed report that illness or family are their reasons for not working
- Persons in poor households at or below the Federal Poverty Level (FPL) (39.8 per 1,000) had more than double the rate of violent victimization as persons in high-income households (16.9 per 1,000).
- Common mental health disorders are about twice as frequent among the poor as among the rich. Evidence indicates that depression is 1.5 - 2 times more prevalent among the low-income groups of a population.
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