A negative mental health trend among Americans continued uninterrupted for the eighth consecutive month.
Health services provider Morneau Shepell found worsening anxiety and depression, compounded by extended mental strain, continues to impact the mental wellbeing of Americans.
Its Mental Health Index score is -7.3, more than one full point below October (-6.2) and continuing the trend of decline from July’s score of -5.1.
The score measures the improvement or decline in mental health from the pre-2020 benchmark of 75.
“As news about trials, medical advances, and potential plans to administer COVID-19 vaccines begin to dominate the news cycle, the risk of misinformation and information overload is at an all-time high for Americans,” Stephan Liptrap, the firm’s president and chief executive officer said in a statement. “This can be incredibly stressful for employees to navigate in addition to their day-to-day personal and professional lives. Positive employee wellbeing is key to ensuring business continuity, and it is critical that employers continue to offer support and resources to employees during this time.”
The divisive U.S. presidential election also continued to affect Americans’ wellbeing in November, with nearly half (46%) of respondents indicating the election has had a negative impact on their mental health.
However, participation in the election appears to have had a positive impact on Americans’ mental health, as the highest optimism scores in November were observed among individuals who had already voted or had planned to vote (-7.3), compared to those who had not planned to vote (-8.8) and those who had been undecided about voting (-14.6).
Many Americans consider changing careers
The pandemic has created both challenges and opportunities for Americans, the firm noted, leading many to consider the future of their personal and professional lives and, in some instances, a change in employment.
Overall, 24% of respondents indicated that the pandemic has led them to consider a job or career change. Thirty-seven percent of respondents under the age of 40 said they are considering a job/career change, compared to only 13% of respondents over the age of 50 who indicated the same.
Additionally, 19% said they are undecided, suggesting a greater proportion of workers may be at risk of turnover.
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Since the pandemic started, 15% indicated that their view of their employer worsened and 15% indicated that it became more positive. The majority of employees believe that their employers are handling health and safety well, compared to only seven percent of employees that believe it’s been poorly handled.
Similarly, 68% of employees believe their employer is handling the use of technology well, 60% of employees believe their employer is handling flexible work hours well and 55% of employees believe their employer is handling work-from-home policies well.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
