In this paper I examine the association between subjective time pressure and depression and consider whether time pressure mediates the relationship between roles and depression, whether social and economic resources moderate the association between time pressure and depression, and whether time pressure explains gender differences in depression. Results of a telephone survey of 790 respondents indicate that time pressure is significantly associated with distress for men and women, and that subjective time pressure accounts for the significantly higher depression of employed women. Time pressure mediates the impact of housework and the volunteer role among women and it partially explains the differential depression of divorced men. Several resources moderate the impact of time pressure on depression: income among both men and women and perceived co-worker social support among men. Results suggest that the subjective experience of time pressure can be thought of as a potentially important mechanism by which lived experience is transformed into depression. However, in spite of the ubiquity of time pressure in the North American context, the depressing consequences of this subjective experience are not distributed equitably, suggesting that the capacity to manage time pressure and avoid depression may be another benefit associated with strategically advantageous social locations.