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This article explores the mediating role of self-perceived health in the relationship between objective health status (defined as the number of illnesses) and depressive symptoms. It also examines the moderating role of employment versus retirement in the relationship between health status and self-perceived health and between self-perceived health and depressive symptoms. The moderated mediation model was tested using the Israeli SHARE database of employed and retired older adults (N = 1,574). Regressions and bootstrapping analyses were used to test the moderated mediation model. The relationship between the number of illnesses and depressive symptoms was mediated by self-perceived health and was moderated by employment. Employment moderated the relationship between the number of illnesses and self-perceived health, such that the relationship was stronger for employees. Employment also moderated the relationship between self-perceived health and depressive symptoms, such that the relationship was weaker for employees. The article portrays interesting patterns, adding to the ongoing debate regarding the relationship between older adults’ employment and health. While employment strengthens the association between objective health and self-perceived health, it weakens the association between self-perceived health and depression.
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