The benefits of part-time work

PEOPLE’S RELATIONSHIP with work is complex. For all the complaining about the tedium and bureaucracy, the power-crazed bosses and recalcitrant colleagues, individuals need the security of a job. A century of research has shown that unemployment is bad for mental health, leading to depression, anxiety and reduced self-esteem. On average, it has an even greater effect than divorce.But how much work do you need to do? A recent paper* by the Centre for Business Research at Cambridge University took the opportunity of the pandemic to examine the impact of reduced working hours on well-being. Many British employees were placed in a furlough scheme, under which their hours were reduced and their wages were subsidised by the government. “We found that people working reduced working hours or being furloughed do not have poorer mental health,” the authors conclude. This suggests that social welfare would be improved if governments adopted furlough schemes in future recessions, even when they are not triggered by a virus.