Job-stress related depression is costing Australia’s economy $730 million a year, according to a new report.
With employees taking on extra work and therefore excessive pressure, the strain is proving too much for many.
Associate Professor Tony LaMontagne from the University of Melbourne School of Population Health, said that “job strain”, where workers have little control over their job, but who are under high pressure to perform, accounts for 17 per cent of depression in working women and 13 per cent in working men.
“These figures represent a significant burden on the Australian economy that is preventable by improving job quality,” he said.
The report from University of Melbourne and VicHealth said that the $730 million job strain price tag includes lost productive time, employee replacement costs, government-subsidised mental health services and medications for depression.
It equates to $11.8 billion over the average working lifetime, with the biggest loss accruing to employers.