This dissertation is a collection of research on the effects of changing employment and earnings opportunities on non-labor market outcomes, primarily health and well-being. These considerations deserve the attention of economists because business cycle fluctuations, regional shocks, and long-term trends that affect labor market participation may impact the well-being of individuals and communities in unexpected and important ways. Understanding the benefits and costs of changing economic opportunities is crucial for designing policies that mitigate the worst effects of downturns and magnify the benefits of economic growth. In this dissertation, I provide novel descriptive and plausibly causal estimates of the effects of labor market attachment on important measures of individual and societal well-being, such as mortality, education, and intergenerational mobility.