Using the Health and Retirement Study Data, James and Spiro (2007) found that, among men ages 63 to 73, the disabled had average depression levels (abbreviated CES-D) of 2.4, compared to 1.4 for the retired, 1.5 for those working part-time, and 1.0 for those working full time. Among women ages 63 to 73, the disabled had average depression levels (abbreviated CES-D) of 3.1, compared to 2.0 for the retired, 1.3 for those working part-time, and 1.5 for those working full time. (James & Spiro, 2007: 161).

James, J. B., & & Spiro, A. (2007). The impact of work on the psychological health and well-being of older Americans. Annual Review of Gerontology and Geriatrics 26: The Crown of Life: Dynamics of the Early Post-Retirement Period, 26, 153-174.
The University of Michigan Health and Retirement Study (HRS) surveys more than 22,000 Americans over the age of 50 every two years. Supported by the National Institute on Aging (NIA U01AG009740), the study paints an emerging portrait of an aging America's physical and mental health, insurance coverage, financial status, family support systems, labor market status, and retirement planning.
|