Personal wellbeing declines in the first year of the pandemic

How did your personal wellbeing hold up during the first twelve months of the pandemic?

The Office for National Statistics (ONS) track a range of indicators designed to measure personal wellbeing.

In their latest release, the ONS reports that personal wellbeing in the UK declined in the year to March 2021. It was the most significant decline since the survey started a decade ago.

Average ratings across all personal wellbeing indicators declined during the year.

Their personal wellbeing survey considers estimates of life satisfaction and the feeling that the things we do in life are worthwhile. It also looks at levels of happiness and anxiety, both nationally and at a local level.

In their first personal wellbeing survey to take place entirely during the Covid-19 pandemic, the ONS found that life satisfaction declined by 0.27 points.

Average happiness levels also declined by 0.17 points. The feeling that the things done in life are worthwhile dropped 0.15 points.

Anxiety ratings increased in all parts of the UK, compared with the previous survey period, except for Northern Ireland and the North East of England.

Those living in the West Midlands and the North West of England reported the most significant increases in anxiety.

The survey results and decline in personal wellbeing come as employees experience more concerns about their mental health during the Covid-19 pandemic.

Earlier research carried out by Close Brothers found that more than half of employees expressed worries about their mental health, with the proportion expressing concerns rising by almost a quarter.

The research also found increasing worry about financial and physical health due to a year of lockdown measures and other Covid restrictions.

39% of employees said they had experienced an increase in worries about their financial health during this time.

While financial worries are clearly on the rise due to employment uncertainty and the rising cost of living, a powerful antidote is creating and following a robust Financial Plan.

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