Assessing variation in U.S. young adults’ anxiety, depression, and financial well-being by race and gender during the COVID-19 pandemic

This is the authors' abstract. We don't add key points for this paper.

Purpose Young adulthood is a key developmental period, marked by instability and uncertainty in relationships, employment, schooling, and personal identity. The COVID-19 pandemic disrupted American life, and research indicates young Americans experienced greater mental health needs than other age groups. This paper measured mental health and financial well-being during the pandemic among young adults in metropolitan statistical areas (MSAs) with analysis by race/ethnicity and gender. Methods We analyzed indicators of depression (PHQ-2), anxiety (GAD-2), and financial well-being in young adults ages 18–26 in MSAs (n = 3,159). We used linear and logistic regression models with longitudinal data over four time points in 2021 and 2022. Main-effects models identified associations with outcomes of interest and interactional models explored intersectional effects. We used likelihood and interval-based testing to determine significance. Results Young adult women reported notably higher levels of anxiety and depression than their male counterparts, scoring 0.48 points higher on the GAD-2 and 0.13 points higher on the PHQ-2. Among women, those who were White, Asian, or LGB utilized mental health services more frequently than young adult men. Hispanic and Black women also had higher mental health symptom scores compared to men of their respective races, though the gap was not as large as that observed among White participants. The findings further show that Black and Hispanic respondents faced greater employment loss at certain periods, with each group being about ten percentage points more likely to experience job loss than White and Asian groups. Discussion Structural factors related to intersecting identities (race, ethnicity, and gender) may increase susceptibility to or protection from worsening mental health outcomes. BIPOC and other marginalized groups show some resilience to the pandemic’s impact on mental health but experienced more work loss. Policy should focus on supports for young adults related to mental health and financial well-being, including subsidized therapy and affordable higher education and housing.