The Covid pandemic has caused the health, wealth and happiness of the UK population to reach its lowest levels for a decade.
The latest LifeSearch Health Wealth & Happiness Index, compiled with the Centre for Economics and Business Research (Cebr) found scores for all three key indicators reached a 10-year low in the second quarter of 2020.
The scores across each represented a fall of 23 per cent on the previous quarter, far outweighing the previous quarterly fall of 5 per cent.
This was seen in Autumn 2018, when a bad flu season put downward pressure on the health index and a stock market slump caused volatility int he wealth index.
Looking in focus at the individual indices, the health index tumbled to 50.4 in the second quarter of 2020, amid the first national lockdown. In then recovered to 84.3 in quarter three before falling again in quarter four (75.8) the first quarter of 2021 (63.0)
There were similar turbulent falls in the happiness index, which recorded a record low of 76.5 in the first quarter of 2021. It also saw a dramatic fall in the second quarter of 2020.
The wealth index did fall during the last year to 76.3 in quarter three of 2020. However it stood at 76.3 at this point, which is not as low as the figure of 66.4 recorded in 2011. It also rallied during the first quarter of this year. LifeSearch said that people financial situation had to some extent been helped by government interventions such as the furlough scheme, stamp duty holiday and the rise in the household savings ratio.
Additional research by LifeSearch found that the UK is very much split when it comes to these various indicators. It found around 29 per cent of Brits feel wealthier after a year of lockdown, compared to 24 per cent who feel poorer. Almost one in four people say they feel healthier now, but one in three say they feel less healthy than they were pre-pandemic.
Coupled with this is the stark contrast that almost half of UK adults (46 per cent) are less happy now than they were pre-pandemic.
LifeSearch chief marketing officer Emma Walker says: “The last year has been like no other and it’s no surprise to see the downward pressure on measures of health, wealth and happiness.
It’s also true to say that we found a tale of two halves, some were able to use the pandemic as an opportunity to reflect and make some positive change in their life from saving more money, exercising more or changing diet, while others have suffered in ways that have tested the fragility of our existence.”
The LifeSearch study shows some of the specific problems that have caused these figures to drop. Over a third of Brits (36 per cent) say they have been comfort eating more in the last year, rising to 43 per cent of women and 49 per cent of young people.
The figures also show that 21 per cent have drunk more alcohol, rising to 29 per cent of 18-34 years olds and 24 per cent of 35-43 year olds.
On the flipside, a further 27 per cent say they have drunk less, rising to 30 per cent of women. Despite pubs being mostly closed for the majority of 2020, spending on alcohol has not changed dramatically; from £19.30 per adult per month in 2019 to £19.70 in 2021.
Meanwhile a third (34 per cent) of Brits feel they are less fit now than pre-Covid, rising to 3https://corporate-adviser.com/wp-admin/media-upload.php?post_id=27482&type=image&TB_iframe=18 per cent of women. On the flip side again, 25 per cent feel fitter now vs pre-Covid, rising to 39 per cent among younger people and 30% among those furloughed.
When it comes to mental health, LifeSearch found far more adults say it has got worse (39 per cent) rather than better (14 per cent) over the course of the last year, rising to 45 per cent of women and 48 per cent of young people.
Weekly survey data published by YouGov points to considerable spikes in the proportion of the UK population experiencing such feelings as stress, scaredness, sadness, and apathy during the pandemic. Despite this, LifeSearch found that only 14 per cent of adults have worked to improve their wellbeing in the last year and a further 24 per cent have done less to actively improve their wellbeing vs pre-pandemic.
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