Prior research examining the impact of job loss on personality change has yielded inconsistent findings. The present preregistered study extends prior research by analyzing longitudinal data from Sample N = 1,110 predominantly first-generation Mexican-origin adults, who reported on their employment status and Big Five personality traits up to eight times over 16 years. We explored the influence of both individual and spousal unemployment on four forms of personality trait stability and change: rank-order stability, mean-level changes, within-person trait stability, and profile stability. Job loss was associated with a wide range of mean-level personality changes; collectively, the findings suggest that the experience of unemployment can disrupt the normative process of maturation, leading to decreases in conscientiousness and agreeableness and impeding the typical decline in neuroticism. Our study is the first to establish a spillover effect of spousal job loss on partners’ personality dynamics, demonstrating that personality changes can occur in response to a partner’s job loss. In some cases, these changes paralleled those found for one’s own job loss (specifically, gradual postevent declines in agreeableness and openness), whereas in other cases, we found evidence of a compensatory effect (where individuals whose partner lost their job showed an immediate increase in conscientiousness). On the contrary, job loss had no significant effects on rank-order stability, whether experienced by self or spousal, and was associated with higher extraversion within-person trait stability. Likewise, job loss was associated with lower profile stability; those who experienced unemployment showed lower stability in their personality profiles than those who remained employed. These findings highlight the importance of studying the effects of major life transitions on personality change in diverse samples. (PsycInfo Database Record (c) 2026 APA, all rights reserved)