People Who Join the Labor Force in Recessions Are Happier with Their Jobs

In a study of U.S. survey data from 1975 through 2008, Emily C. Bianchi of Emory University finds that people who entered the work force when the economy was faltering are more satisfied with their jobs in later years. For example, graduating from a university when the unemployment rate was 9.7% as opposed to 7.0% is associated with a 9% increase in one measure of job satisfaction. People who graduate in tough economic times are subsequently less likely to ruminate about how they might have done better and are more likely to feel grateful for the jobs they have, Bianchi suggests.