Temkin Well-Being Index for U.S. Consumers Drops in 2016
May 10, 2016 2 Comments
Temkin Group has been doing large-scale consumer research for several years. As part of our ongoing studies, we track many consumer attitudes. To gauge the overall quality of life for the U.S. population, we created the Temkin Well-Being Index (TWBi) based on a few of those attitudinal elements.
The TWBi is based on a survey of 10,000 U.S. consumers in January. The overall index is an average of three measurements representing the percentage of U.S. adults (18 and older) who agree with these statements:
- I am typically happy
- I am healthy
- I am financially secure
While we began publishing the TWBi in 2014, we’ve been tracking it since 2012. As you can see in the figure below:
- After the TWBi increased in 2013 and 2014 two years, it fell for the second straight year. The drop this year, 1.9 points, is the largest change we’ve seen.
- All three areas of the TWBi dropped since last year. While there was a small drop in financial security (-0.4 points), happiness dropped 2 points, and healthiness dropped 3.3 points. The drop in healthiness is the largest change we’ve seen in any area.
- When comparing 2016 to 2012, we find that U.S. consumers are slightly less happy, a little healthier, and much more financially secure.
We’ll be examining 2016 TWI by age and gender in an upcoming post.
The bottom line: U.S. consumers are a lot less healthy this year