Yes, overall work-life balance is certainly better than in other places, but mental health is still an issue here. 13 % of all days absent due to illness are attributed to mental health problems[0]. Especially in jobs, where you have lots of responsibility and pressure for very little material reward -- nurses, geriatric workers, teachers.

[0]: https://www.deutsche-depressionshilfe.de/depression-infos-un...

I would say at least people feel free to take time off for mental health reasons. I worked in the US, and I think people don’t think of stress and mental health as legitimate reasons to miss work. They still take time off for those reasons, but much later when they start to manifest themselves in more physical ways.