2844 people were surveyed after giving up Facebook for a month. Many reported increased personal happiness, less extreme political views and more time spent disconnected from the internet. A large number reportedly stayed off social media after the survey was over.
Further Reading
A “gold standard” study finds deleting Facebook is great for your mental health
Leaving Facebook Makes You Happier, less politically informed, more active in IRL activities, and less likely to go back to Facebook
The Welfare Effects of Social Media