Adolescent Depressive Symptoms and Material Hardship in Adulthood: Exploring Human Capital and Socio-emotional Capital as Mechanisms

This study examines whether adolescent depressive symptoms predict material hardship in adulthood and explores the developmental pathways linking the two. Using data from the National Longitudinal Study of Adolescent to Adult Health (Add Health), we analyze a sibling sample ( N = 2,107). Sibling fixed effects models are used to account for unobserved familial and environmental confounding. Adolescent depressive symptoms are significantly associated with adult material hardship, even after adjusting for adult depressive symptoms. Mediation analyses indicate that both human capital, particularly educational attainment, and socio-emotional capital, including neuroticism, conscientiousness, and locus of control, partially explain this association. Socio-emotional traits account for a larger share of the indirect effect, highlighting their importance in shaping economic outcomes. By focusing on material hardship as an experience-based measure of economic insecurity, this study underscores the need for early interventions supporting academic achievement and socio-emotional development to reduce lasting disadvantage related to adolescent mental health.