Despite the oncoming of spring, emotional well-being among U.S. adults barely ticked up from February to March 2023, (56.8% to 57.0%). On the other hand, heightened and ongoing economic concerns are top of mind in Q1. However, it’s important to note that well-being in March 2023 sits more than four points higher than March 2022’s score (52.5%), at the start of the war in Ukraine.
While February saw a temporary spike in economic sentiment, March rolled out one economic challenge after another, from the banking crisis to the end of extra SNAP benefits, both certainly factors impacting well-being.
When cutting the data by weekly averages in March, it’s clear that the events in the second-half of the month (specifically the SVB failure and the Nashville school shooting) started to drive well-being down, despite a stable monthly average.
The Well-Being of Women is Still Low
While overall well-being is relatively flat for the Month of March, digging into specific demographics highlights nuances in the data. Americans are facing economic difficulties more than ever, but women bear a specific brunt of it. Women’s well-being is noticeably lower than that of the Gen Pop, and has been declining throughout Women’s History Month. During March, women’s weekly well-being has been up and down, with young women aged 18-34 experiencing the lowest well-being.
These ups and downs are likely direct effects of the pandemic during which women have reported less financial security and more stress, even three years in. In addition, a reduction in women’s rights could be affecting women’s well-being as restrictions on reproductive health continue.
Will continued economic concerns drive well-being downward in April or will spring improve it? More to come next month.
Want to better understand the impact of well-being on consumer choices? Let us know.
What is the CivicScience Well-Being Index?
Everything affects everything – that includes how a person feels at any given moment in time. The CivicScience Well-Being Index rapidly captures the collective emotional well-being of the population on a daily basis by asking thousands of survey respondents to report on how strongly they feel different emotions. Through living indexes like the Well-Being Index, CivicScience helps businesses and organizations better understand what’s driving consumer choices, empowering them with the data-driven insight needed to navigate our rapidly changing times.