In: Economics
The Socio-economic status (SES) is a composite measure of the economic and sociological role of an person. This is a nuanced measurement calculated in a number of ways, based on employment, education, and occupation, accounting for a person's job experience and economic and social status in comparison to others. Socio-economic status has become a strong determinant of wellbeing; typically, wealthy people tend to be in better health than poorer people
SES has an effect on the overall functioning of humans including our physical and mental wellbeing. Low SES and its effects, such as lower achievement in schooling, deprivation and poor health, inevitably influence our society. Inequities in the distribution of health, the distribution of wealth and the quality of life are growing in the United States and worldwide. Society benefits from an growing emphasis on social inequities structures and attempts to reduce the deep socioeconomic status differences in the United States and abroad.
In addition to social support in the workplace, family support is important for the psychological well-being of those under pressure from work. Due to overlapping duties at work and at home, those performing several positions can be at an increased risk of stress. Higher prevalence of children with chronic health problems, learning disabilities, and childcare issues creates an increased need for flexibility as parents seek to manage these overlapping roles. Child and elderly care services are required to help caregivers perform their duties at work and at home.
Job insecurity is the feeling of being threatened by work loss, which can impact on the health and wellbeing of an person The risk of work loss affects physical and mental health considerably; the impact on mental health is greater than the impact on physical health