Income Volatility and Depressive Symptoms among Elderly Koreans.

Sujin Kim,S.V Subramanian

doi:10.3390/ijerph16193580

Abstract

This study examines the relationship between volatile income and depression, and moderating effects of living arrangements among older adults in South Korea. Using the Korean Longitudinal Study of Aging, we studied 4123 adults aged 60 or older. Income volatility was defined as the variance of logged income across four assessments from 2006 to 2012. Depression was measured as the Center for Epidemiologic Studies Depression (CES-D) scores in 2012. It was examined whether income volatility was related to depressive symptoms, and whether the association depended on co-residence with children. In results, income volatility was not related to CES-D scores in main-effect models without an interaction term. The relationship between income volatility and depressive symptoms depended on co-residence with children (p < 0.001). Higher income volatility was linked to increased risks of CES-D scores among the elderly living without children (incident rate ratio (IRR): 1.27, 95% confidence interval (CI): 1.07–1.50, p-value: 0.005) whereas it was related to lower CES-D scores among those co-residing with children (IRR: 0.68, 95% CI: 0.52–0.88, p-value: 0.003). Absolute income volatility has detrimental psychological consequences for older adults who live on their own. The finding implies that social protection policies for elderly households that live with an unstable income are needed.

Highlights

The elderly are retired, and have limited chances for paid work
Higher income volatility was linked to increased risk of depression among older adults living without a child, whereas it was related to fewer depressive symptoms among those co-residing with a child
Our results show that income volatility by itself may contribute to higher depressive symptoms in elderly households, but not the elderly living with children

Summary

Introduction

The elderly are retired, and have limited chances for paid work. In societies with limited safety nets, elder’s limited productivity as well as job loss could result in poverty and unstable income.For example, increased income volatility as well as downward income mobility are often observed in the older population [1,2]. The elderly are retired, and have limited chances for paid work. In societies with limited safety nets, elder’s limited productivity as well as job loss could result in poverty and unstable income. Increased income volatility as well as downward income mobility are often observed in the older population [1,2]. Considering the growing old-age population and lack of social security systems in many countries [3,4], there is a clear need to better understand how low income and unstable income affect elderly well-being. Cumulative evidence has shown the negative health effects of low income and poverty [5,6,7,8]. Little attention has been given to the health consequences of fluctuating and volatile income

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Conclusion