UK’s happiness decreased in 2019 because experts claim that the British “didn’t want to spend money”
UK’s happiness declined in 2019 because experts claim that Britons “didn’t want to spend money and entertain themselves because of economic uncertainty”
- Satisfaction with life declined consistently from January to September in 2019
- The British were less satisfied in the summer of 2019 than in the summer of 2018
- Figures, issued by The Office for National Statistics, were ‘significant’
- Although people have more money, they are concerned about job security
Happiness decreased in 2019 because experts claim that the British did not want to spend money on enjoyable things due to economic uncertainty.
In the months of July to September, a time full of sun and holidays, Britons were less satisfied than in the summer of 2018.
A “significant” change was also seen in life satisfaction from January to September, the Office for National Statistics (ONS) found.
Although people have more money and society becomes less unemployed, there are serious concerns about the economy.
Adults in the UK are worried about their job security, possibly due to high-profile companies that pack, such as Thomas Cook in July.
British happiness, satisfaction with life and the general feeling that life is worth it, fell in 2019 (pictured, January to September, a score of 10)
The figures come from the government’s annual population survey, which collects data from 320,000 people across the country.
Satisfaction with life and “feeling that things done in life are worthwhile” decreased from January to September.
In the first part of 2019, people rated life satisfaction as 7.71 out of 10. It dropped to 7.66 in the summer.
In the same way, “the feeling that things being done in life are worthwhile” dropped from 7.89 to 7.86.
For the first time since data collection began in 2011, both measures were significantly lower in the summer of 2019 than in the previous summer.
Satisfaction with life fell by 0.7 percent, while the feeling that life was worth it was reduced by 0.5 percent.
MONEY CAN BUY HAPPINESS – BUT TOO MANY MAKE YOU LOOSE
Making between $ 60,000 (£ 45.00) and $ 75,000 (£ 57,000) per year is ideal for emotional health, according to research from Purdue University.
You could earn up to $ 95,000 (£ 72,000) before your money starts making you miserable by feeding your materialism, they claimed.
The researchers suggested that this revenue potential is probably the focal point between having enough money to meet basic needs and having so much that it takes the attention away from other factors that contribute to happiness, such as relationships.
According to earlier research, money can on the one hand contribute to greater joy of life by saving time, but people can hesitate to spend their money for fear of being lazy, they said.
“Money is only part of what makes us truly happy, and we learn more about the limits of money,” lead investigator Andrew Jebb said.
They may seem small, but the ONS said, “It’s the first significant change since early 2015 in what was a stable picture of satisfaction with life in the UK.”
Happiness levels have been consistently reduced from January to September, from 7.55 to 7.52.
Anxiety continues to increase throughout the year – about 20 percent of people report high levels.
In the previous year there was quite a bit of news, such as the impending Brexit deadline in October.
However, any consequences for our levels of happiness due to the busy politics of Great Britain at the end of last year, including the general elections in December, have not yet been published.
The ONS said there are many reasons why people are less happy and satisfied.
Concerns about job security and the economy have increased, which can have a wavy effect on well-being.
Concerns about future employment prospects have been greatest since March 2013, even though unemployment rates are considerably better.
And expectations about the general economy have steadily declined since 2014 and have been the worst ever since 2011.
This is despite the fact that people have more money per household, while disposable money increased by around 0.3 percent per person.
Spending on things such as cars, going out or going to the cinema slowed down in July to September in 2019 compared to the same months in 2018.
A number of large companies – more than average – stopped trading in 2019, which may have given people a negative outlook on the economy as a whole.
Major media relate to corporate bankruptcies, including Thomas Cook’s sudden collapse in July, displacing 21,000 employees.
Debenhams went into administration in April, and Boots and Marks & Spencer were among those who announced store closures.