Stability of subjective well-being during the economic crisis: A four-wave latent transition analysis in a national sample of Poles.

Abstract

This study aimed to examine profiles of subjective well-being (SWB) and their stability during the economic hardships associated with the long-term impact of the COVID-19 pandemic and the Russian invasion of Ukraine. Selected sociodemographic, personality, and context-related variables were tested as covariates. Data were collected from 1755 participants (mean age 45.75 ± 15.99 years) in a nationwide panel over four waves (from November 2022 to June 2023; 34.3% dropout rate). SWB was measured using the Satisfaction with Life Scale and the Positive and Negative Affect Schedule, while personality traits were assessed with the Ten-Item Personality Inventory. Latent profile and transition analyses identified four SWB profiles (ambivalent, average, low, high) that remained stable over 8 months despite a significant drop in the inflation rate. Subjectively evaluated financial situation and the perceived impact of inflation on the household were significant covariates of profile membership, even after controlling for personality traits. The results of this study support the set-point theory of SWB and suggest that SWB is stable under socially shared circumstances of economic hardships, which may be attributed to both individual-level and country-level processes.