Many people don’t realize that psychological depression have a major effect on the economy.

In the article “Economic cost of psychological depression in staggering”, author Gary Lamphier

(2014) states that in the workplace, roughly four per cent of adults are clinically depressed at any

given time. So, if an organization employs 500 people, odds are that 20 of them are seriously

depressed and in need of medical help (para. 4). Any workplace can be an underlying cause or a

contributing factor for psychological depression depending on the level of stress and available

support at the workplace.

Work-related depression can be caused by various events. For example, long hours, heavy

workload, job insecurity and conflicts with co-workers or bosses. “For the Canadian economy,

the cost of depression is staggering in terms of worker absenteeism, loss of productivity, drug

prescription costs and a phenomenon known as “presenteeism,” (Lamphrier, 2014, para. 13).

Presenteeism can result in lost workdays. When someone comes to work while suffering from a

psychological depression, it affects their performance on the job and negatively impacts the

productivity and quality of work. The longer employees are on leave for mental health issues, the

less likely they are to return to work. Often a depressed employee will not seek treatment

because they fear the effect it will have on their job, and they are concerned about

confidentiality.

In conclusion, many people don’t realize that psychological depression have a major effect on

the economy. This circumstance may unfavorably impact an employee’s performance areas such

as decision making and completing tasks. Employers can begin by showing compassion and

acknowledging the stressors that lead to psychological depression in the workplace, and

educating their employees that receiving help is not a sign of weakness.