{"id":401322,"date":"2020-06-01T15:29:35","date_gmt":"2020-06-01T19:29:35","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=401322"},"modified":"2020-06-01T15:29:35","modified_gmt":"2020-06-01T19:29:35","slug":"financial-industry-not-immune-to-mental-health-challenges-survey-finds","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/industry-news\/financial-industry-not-immune-to-mental-health-challenges-survey-finds\/","title":{"rendered":"Financial industry not immune to mental health challenges, survey finds"},"content":{"rendered":"<p>The Covid-19 pandemic is taking a toll on mental health, including the mental health of those working in finance and insurance.<\/p>\n<p>On Monday, Toronto-based Morneau Shepell published its monthly <a href=\"https:\/\/www.morneaushepell.com\/permafiles\/92590\/mental-health-index-report-canada-may-2020.pdf\" target=\"_blank\" rel=\"noopener\">mental health index<\/a>, which provides a measure of employed adults&#8217; mental health compared to benchmarks collected in\u00a02017, 2018 and 2019. The index was launched in April 2020.<\/p>\n<p>In May, the index showed a 12-point decrease from the pre-pandemic benchmark of 75, based on factors such as anxiety, work productivity, isolation and financial risk.<\/p>\n<p>May\u2019s figure followed an identical 12-point decrease in April \u2014 though May&#8217;s result showed some improvement in anxiety and financial risk scores, offset by increased feelings of isolation compared to the month prior.<\/p>\n<p>The 12-point drop is significant because it reflects a population &#8220;whose mental health is similar to the most distressed 1% of the benchmark population,&#8221; the Morneau Shepell report said.<\/p>\n<p>By industry, finance and insurance scored lower in May (\u221213.1) than the overall index.<\/p>\n<p>The\u00a0lowest mental health index scores by industry were in\u00a0accommodation and food services (\u221216.8);\u00a0arts, entertainment\u00a0and recreation (\u221215.5);\u00a0and real estate, rental and leasing\u00a0(\u221214.3).<\/p>\n<p>The highest scores were in utilities (\u22126.1), and mining and oil and gas extraction (\u22129.3).<\/p>\n<h2>Mental health details for individuals<\/h2>\n<p>The index found that the most pervasive concern affecting mental health continued to the pandemic&#8217;s financial impact (cited by 35% of respondents).<\/p>\n<p>Canadians without emergency savings experienced a lower score in mental health (\u221224.3) than the overall group. &#8220;People with no emergency fund have uniformly low scores on the mental health index,&#8221; the report said.<\/p>\n<p>Canadians who had maintained employment at the same income level (61% of respondents) had the best mental health score (\u22129.4).\u00a0Those who maintained employment but with reduced salary had the lowest (\u221215.4).<\/p>\n<p>For full details, read <a href=\"https:\/\/www.morneaushepell.com\/permafiles\/92590\/mental-health-index-report-canada-may-2020.pdf\" target=\"_blank\" rel=\"noopener\">the Morneau Shepell mental health index report<\/a>.<\/p>\n<p><strong>About the mental health index:<\/strong> <em>Morneau Shepell conducted\u00a0an online survey of 3,000 respondents from April 30 to May 11, 2020. All respondents resided in Canada and were employed within the last six months. The data were statistically weighted to ensure that the regional and gender composition of the sample reflected this population. The margin of error was +\/- 3.2%, 19 times out of 20.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance and insurance workers scored lower than the overall index<\/p>\n","protected":false},"author":143134,"featured_media":398531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2318,2312],"tags":[2479,3190,3783],"yst_prominent_words":[14225,61548,61547,61546,61545,50939,40105,33396,19933,17668,17126,14229,6,10380,6443,6013,5845,2257,2172],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/401322"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/143134"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=401322"}],"version-history":[{"count":2,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/401322\/revisions"}],"predecessor-version":[{"id":401324,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/401322\/revisions\/401324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/398531"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=401322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=401322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=401322"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=401322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}