Global Struggle with Mental Health 'Pandemic' – FT
According to the Financial Times, burnout, depression, and anxiety are becoming significant factors that negatively impact workplace productivity around the world. Read Full Article at RT.com.
TroibNews 
A mental health crisis is emerging in workplaces around the globe, with financial services reportedly among the sectors most affected, as detailed by the Financial Times on Monday through recent studies.
The primary contributors to decreased productivity are burnout, depression, and anxiety, according to warnings from economists, business leaders, and health advocates.
A survey conducted by Deloitte, a global consultancy firm, found that 17% of finance and insurance workers in the UK experience symptoms such as exhaustion, declining performance, and mental distancing—this is in contrast to an average of 12% across all sectors.
The findings highlighted that the annual expense attributed to poor mental health in financial services is approximately £5,379 per employee, more than twice the costs observed in any of the other 14 industries analyzed.
According to alarming data from the World Health Organization and the International Labor Organization, about 12 billion workdays are lost each year due to depression and anxiety, resulting in an estimated $1 trillion loss for the global economy.
“The scale of the problem is hugely worrying, particularly among young people,” stated Kate Pickett, a professor of epidemiology at York University, in her remarks to the FT.
She added, “The increase has been so huge that there is something real going on,” suggesting that the rise in reported cases cannot solely be attributed to increased awareness.
Deloitte's researchers also pointed out the concerning state of young people's mental health, noting that one in five UK children is facing a probable mental health disorder in 2023, an increase from one in nine in 2017.
Various factors have been identified as contributing to this global "mental health pandemic," including the cost-of-living crisis and the widespread use of social media, according to the study.
The Covid-19 pandemic has further intensified the decline in mental health, with the WHO reporting a 25% increase in global depression cases from 2020 to 2021.
The organization mentioned that mental health levels have yet to return to pre-pandemic standards, with many individuals still dealing with a “massive hangover from the pandemic.”
Alejandro Jose Martinez for TROIB News
The primary contributors to decreased productivity are burnout, depression, and anxiety, according to warnings from economists, business leaders, and health advocates.
A survey conducted by Deloitte, a global consultancy firm, found that 17% of finance and insurance workers in the UK experience symptoms such as exhaustion, declining performance, and mental distancing—this is in contrast to an average of 12% across all sectors.
The findings highlighted that the annual expense attributed to poor mental health in financial services is approximately £5,379 per employee, more than twice the costs observed in any of the other 14 industries analyzed.
According to alarming data from the World Health Organization and the International Labor Organization, about 12 billion workdays are lost each year due to depression and anxiety, resulting in an estimated $1 trillion loss for the global economy.
“The scale of the problem is hugely worrying, particularly among young people,” stated Kate Pickett, a professor of epidemiology at York University, in her remarks to the FT.
She added, “The increase has been so huge that there is something real going on,” suggesting that the rise in reported cases cannot solely be attributed to increased awareness.
Deloitte's researchers also pointed out the concerning state of young people's mental health, noting that one in five UK children is facing a probable mental health disorder in 2023, an increase from one in nine in 2017.
Various factors have been identified as contributing to this global "mental health pandemic," including the cost-of-living crisis and the widespread use of social media, according to the study.
The Covid-19 pandemic has further intensified the decline in mental health, with the WHO reporting a 25% increase in global depression cases from 2020 to 2021.
The organization mentioned that mental health levels have yet to return to pre-pandemic standards, with many individuals still dealing with a “massive hangover from the pandemic.”
Alejandro Jose Martinez for TROIB News
