Researchers Find Association Between Financial Strain Due to COVID-19 and Depression

Researchers have found an independent association between COVID-19-related income loss and financial strain and depression, according to the latest study from the COVID-19 Resilience Project, run by the Lifespan Brain Institute (LiBI) of Children’s Hospital of Philadelphia (CHOP) and Penn Medicine. This association was found in two separate cohorts – one primarily in the United States and one in Israel – and the depressive symptoms worsened over time in participants who were hit financially, above and beyond pandemic-related anxiety. The findings were published today in the Journal of Affective Disorders.

Large Number of Americans Reported Financial Anxiety and Stress Even Before the Pandemic

A substantial number of adults in the United States between the ages of 21 and 62 felt anxiety and stress about their personal finances well before the onset of the COVID-19 pandemic, according to a new report published today by the Global Financial Literacy Excellence Center at the George Washington University.