Mental Health

Depression is Costing Global Economy $1 Trillion Yearly: US Surgeon General

By Kristine Belonio | Update Date: Dec 06, 2023 07:58 PM EST
What is Bi-Polar Depression?

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U.S. Surgeon General Dr. Vivek Murthy emphasized the significant economic burden of depression, amounting to an astounding $1 trillion loss per year globally. The concern arose amid escalating worries about the increasing loneliness epidemic and its ties to mental health issues.

Murthy recently pointed out the direct correlation between loneliness, social isolation and the rising prevalence of depression. Currently, around 280 million people worldwide, approximately 5% of the adult population, suffer from depression, as reported by the World Health Organization (WHO). This mental health condition adversely affects numerous aspects of life, including sleep, appetite, decision-making, concentration, time management, and social interactions.

"The impact on the global economy of depression alone is around one trillion dollars each year. That's profound. That doesn't count for anxiety and the other physical illnesses that we encounter when it comes to loneliness and isolation," Murthy said in an interview with Fortune.

In response to these growing mental health concerns, Murthy issued an advisory focusing on how workplaces can enhance support for their employees' mental health. He is advocating for the importance of creating a nurturing and inclusive work environment, which not only helps in tackling loneliness and depression but also boosts overall workplace performance.

An Ipsos survey revealed that 88% of U.S. workers feel that a sense of belonging at work enhances their productivity.

"Our mental health is the fuel that allows us to show up in our life, at work, and at home in our communities. When we struggle with our mental health, it impacts our productivity in the workplace, how engaged we are in our work, and even our retention, and our absenteeism," Murthy noted.

Murthy outlined five critical strategies to foster mental health in the workplace, including safeguarding employees from harm, promoting community and connectivity, balancing work-life dynamics, offering growth and development opportunities, and affirming the value of employees and their contributions.

In the wake of the pandemic and the shift toward remote working, supporting employee mental health has become even more imperative for leadership. Engaged employees are not only crucial for a company's success but also contribute positively to the broader community.

"Employers have not just an interest, but I believe also a responsibility to do everything they can to support mental health in the workplace. It ends up benefiting not just the organization itself, but the spillover benefits accrue to the broader community," Murthy quipped.

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