We investigate the impacts of the Great Recession on the health of women with children using the last two waves of the Fragile Families and Child Well-being Study. We model the financial crisis with changes in the state unemployment rate and we focus on a wide range of physical and mental health outcomes, as well as health behaviors. Our findings from the individual fixed effects models suggest heterogeneous impacts across demographic and socioeconomic groups. While a rise in the UR worsened the physical and mental health, and increased the likelihood of smoking and using drugs for disadvantaged women (minorities, unmarried, and those with low education), the crisis may have actually improved the health of more advantaged ones (Whites, marrieds, and high skilled). Our results confirm the importance of controlling for individual fixed effects to identify the causal impact of the unemployment on individual health outcomes.