Your boss tells you that they wanted to keep you on, but they just can’t do it. The company isn’t making enough money and they have to let some workers go. They tell you that this is the end of your employment with the company and they wish you well.
You’re disappointed to hear this, but you know you’ll find another job eventually. You start to think about the other ways that this may impact your life. What is your spouse going to think? How do you tell them? Could this even mark the end of your relationship?
Statistically speaking, there is a link between divorce and job loss
While it is certainly true that your marriage may be fine, it’s important to note that a statistical analysis of job loss has linked it to higher odds of divorce. For instance, one study noted that a man who was unemployed was 68% more likely to get divorced than someone who had a job.
Interestingly, even getting another job didn’t necessarily fix this change in odds. Someone who lost a job and then got another job was about 40% more likely to get divorced than someone who did not ever lose their job.
What this suggests is that financial insecurity is really what leads to divorce. Couples who do not have the stability they want, from a financial perspective, often run into a lot of extra stress, and that may cause them to eventually break up.
If you and your spouse do decide that it’s time to end your marriage, it’s very important to consider all of your legal options during what may be a financially difficult time for both of you.