Becoming unemployed has negative effects on life satisfaction; a transition from unemployment to employment, however, has stronger positive effects in absolute terms. The asymmetry of the non-pecuniary effect indicates a potential “omitted variable bias” in previous empirical happiness studies.

This study analyses time-dependent rhythms in happiness in three aspects. We show that the Sunday neurosis exists exclusively for men with a medium level of education and both men and women with high levels of education. Men with high levels of education may even experience a weekend neurosis....