Study says rise in minimum wages could prevent suicides

Study says rise in minimum wages could prevent suicides

New research has been published in the Journal of Epidemiology & Community Health. The research found a clear connection between mental health and economic policies. According to the study, a rise of $2 in minimum wages in the US states could prevent thousands of lives lost in suicides between 1990 and 2015.

The focus of the researchers was on the states that rose minimum wages above the federal level in the last two decades. The research found that the suicide rate decreased by 3 to 6 percent with the rise of 41 in minimum wages from 2009 to 2015. A rise of $1 in the minimum wages resulted in 14000 fewer suicides. The research also found that the rise of $2 in the minimum wages resulted in 26000 fewer suicides from 2009 onwards.

The experts in the field of mental health said that mental health factors were not always controlled. Dr. Megan McCoy, a certified financial therapist, said, “A small amount of more many can make a difference.” McCoy added, “Researchers called it ‘death by despair’ and I wonder if getting to a number that seems livable means that you have more of a sense of accomplishment.”

Financial stress is a reason behind anxiety and depression. McCoy said that there was a clear link between money and mental health. Money is not just math and numeric on a paper. Mental health issues can lead to financial stress through things like compulsive spending. McCoy said, “I wish that people saw money as numbers but it’s not.”

McCoy advised people to take wise decisions in terms of spending their money. They need to make a plan for spending their money. It is important for people to feel good about their purchasing decisions. The financial policy must have to focus on the mental health of the residents of each state. A small rise in the minimum wage can create a huge impact in this regard. McCoy advised people to make a spending plan.

Staff writer for the Chicago Morning Star

Related Posts
Pew Charitable Trusts study says attacking poverty across state could bring Illinois together
Poverty is one of the major issues in the US as it is increasing in
University of Illinois study reveals vocational training as tuition-fee alternative
The Illinois Policy Institute and the Project for Middle-Class Renewal at the University of Illinois
University of Illinois Urbana-Champaign reveals funding schools would relieve property taxes
The Illinois Economic Policy Institute and the Project for Middle-Class Renewal at the University of
Caloric intake provided to critically ill infants lack proper monitoring: Study
A study has been published in the Journal of Perinatology about the caloric intake provided
Nearly half of Americans work on low wages: Study
The state of the US jobs has been studied by the Brookings Institution in a
14th coronavirus case in US confirmed by CDC
The Centers for Disease Control and Prevention confirmed 14th novel coronavirus in the US on
Undocumented immigrant shot in face by ICE officer on Thursday
An ICE officer opened fire on a man in Brooklyn on Thursday during a dispute.
San Diego’s Iraq War veteran inspires people with his lost leg in war
Doc Jacobs was medically retired from his position in the US Navy. He was a
US companies that produce goods in China face coronavirus fear
The production of many goods made in China has been halted due to the current
Rush Limbaugh receives Medal of Freedom from Trump
Rush Limbaugh is a renowned personality of the United States of America. He hosted a