This paper presents a survey of the relationships among multiple indicators of perceived occupational stress, trait negative affectivity, and later mental and physical health symptoms, among 157 Australian public servants during organisational restructuring. It was hypothesised that individual differences in negative affectivity would inflate the relationships between perceived stress and later strain as assessed by health symptoms in the follow-up phase. The possible role of negative affectivity in moderating the stress-strain relationships was also investigated. Multiple regression analyses conducted with depressive and physical health outcomes separately indicate that the only significant predictors of depressive symptoms were negative affectivity and role insufficiency, whereas the significant predictors of physical health symptoms were role ambiguity, physical environment, and negative affectivity. None of the interaction terms involving occupational stress and negative affectivity was found to be significant. Implications of the findings are discussed in the context of the research literature on work stress, particularly the role of negative affectivity in inflating the stress-strain relationship and indications for future research.