Job loss may lead to divorce

Losing your job, even when it is no fault of your own — such as when the company has to downsize due to a recession — can raise a lot of important questions. Do you qualify for unemployment benefits? Are you going to face bankruptcy if you don’t get another job quickly enough? Was the firing even legal, or were you discriminated against?

As you sort through all of this and much more, it’s important to know that job loss can have a big impact on your personal life, as well. In fact, some studies have found that it makes divorce more likely.

For instance, one study looked at men who were employed full-time and those who had lost their jobs and were unemployed. That second group had a 32% higher rate of divorce. Job loss doesn’t end all marriages right away, but it clearly leads to at least higher odds of splitting up eventually, especially if it turns out to be a long-term issue.

Why does this happen? There are numerous reasons, but the biggest one is likely just the financial stress that comes with losing a job. When the budget works and everyone is comfortable, it’s easier for couples to stay together and ignore the issues they may have with each other personally. When they can’t make ends meet, stress levels are elevated, and all of those issues may come to the forefront. Plus, some people ask for a divorce in order to look for a more stable financial situation.

If you end up getting a divorce for any reason, make sure you know what steps to take.