One year into the COVID-19 pandemic, we found that more than 1 in 5 US adults reported probable depression in both spring 2020 and spring 2021. We also found that financial assets helped reduce the persistence of symptoms – but only to a point.
and efforts to reopen society were under way. But by that point, the share of adults in our survey reporting symptoms of depression had gone up to 32.8 percent.
Worse yet, that higher 2021 number included 20.3 percent who had reported symptoms of depression both in April 2020 and in April 2021. This finding suggests that poor mental health driven by the pandemic was both prevalent and persistent.We also wanted to know which assets – financial, physical and social – might be influencing people's mental health during the pandemic.
We found that people in households earning less than US$20,000 a year were 3.5 times as likely to report persistent depression symptoms as those making $75,000. We also found that people who had $5,000 or more in savings or a bank account reported less persistent depression. Having more assets, however, did not reduce the depression-inducing stress of losing a job, suffering relationship problems or experiencing financial difficulties during the pandemic.
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