Inflation causes worse mental health for Americans

CHICAGO- (BUSINESS CHP) – LifeWorks, a leading provider of digital and personal solutions for overall well-being, today released its monthly Mental Health Index ™, which shows that 20 percent of Americans are unable to meet basic needs such as food and housing, have a mental health score of more than 16 points below the national average. In addition, 15 percent of respondents said they were unsure whether their households would be safe next year.

The index found that American workers’ optimism, general psychological health and financial risk assessments declined from April to May.

  • At 69.4 percent, the mental health of Americans in May remained almost unchanged from the April result of 69.3.

  • Mental health outcomes improved in the northeastern and midwestern regions and decreased in the southern and western regions.

Many Americans are facing or coping with the effects of inflation

  • For 20 percent of Americans, inflation has affected their ability to meet basic needs such as food and housing, and this group has a mental health score nearly 16 points below the national average.

  • Fifteen percent of Americans are unsure that their homes will be safe next year.

  • Sixteen percent of Americans say they have not been affected by inflation yet, but expect it to happen in the future.

  • Forty-eight percent of Americans have cut non-compulsory spending because of the effects of inflation.

  • Americans who rent their homes have poorer mental health than homeowners.

Comments from President and CEO Stephen Liptrap

“Our research shows that Americans now face increased stress from reality and fear of inflation. It is the duty of employers to recognize the pressure they face on their employees, both in and out of the workplace. It is also vital that employers make sure that their employees are aware of the programs and tools available that can help them orient themselves in their mental and financial health during these stressful times, such as financial counseling in their support program. employees.

Comments from Global Leader and Senior Vice President, Research and Overall Welfare, Paula Allen

“After years of tackling pandemic concerns, more and more Americans are now facing a growing fear that they will not be able to put food on their tables or have security in the house due to the sharp rise in inflation. It is important to recognize that financial tensions are destabilizing and can affect mental health. This can make employees more tense than before. Good communication and a workplace where people have a sense of respect and belonging are a long way every day, especially now. ”

The full report of the United States LifeWorks Mental Health Index ™ can be found here. This month’s report includes additional insights into the impact of increased aggression and conflict, home security, managers ‘and employees’ views on home work and workplace safety. To receive the LifeWorks Mental Health Index ™ every month, subscribe here.

On the mental health index ™

The LifeWorks Monthly Survey was conducted through an online survey from May 2 to 18, 2022, with 5,000 respondents in the United States. All respondents reside in the United States and have been employed for the past six months. The data are statistically weighted to ensure that the regional and gender composition of the sample reflects this population. The Mental Health Index ™ is published monthly, starting in April 2020, and is compared with comparative data collected in 2017, 2018, 2019.

From May 2022, corresponding to the third year of the LifeWorks Mental Health Index, the results are presented as absolute. In order to create a mental health index ™, a response evaluation system is applied to turn individual responses into point values. Higher scores are associated with better mental health and less risk to mental health. Scores between 0 and 49 correspond to distress levels, scores between 50 and 79 correspond to stress levels, and scores between 80 and 100 correspond to optimal levels.

About LifeWorks

LifeWorks is a world leader in providing digital and personal solutions that support the overall well-being of people. We provide personalized continuous care that helps our clients improve the lives of their people and thus improve their business.

ID-US, ID-CORP, ID-MH

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