There is plenty of research that supports the importance of teaching emotional literacy to children.

Christine Carter writes that evidence “points to teaching kids emotional literacy as the foundation of happiness. Emotional literacy is people’s ability to read and understand emotions—to recognise, interpret, and respond constructively to their own emotions and the emotions of others. Emotional literacy is one of the most important keys to mental health and well-being.

Children who can regulate their emotions are better at soothing themselves when they are upset, which means that they experience negative emotions like fear and anger for a shorter period of time. They have fewer infectious illnesses and are better at focusing their attention. Such children understand and relate to people better, and form stronger friendships. Emotional literacy is one of the best predictors of school performance and career success, better even than IQ. This is in part because children who are being taught emotional literacy skills are better learners; they also have better relationships in the classroom. Emotional literacy fosters resilience and helps close academic achievement gaps, promoting gains in nearly every area of children’s lives—most notably happiness and school success.” 

https://greatergood.berkeley.edu/article/item/introduction_emotional_literacy_raising_happy_kids

These two clips are about developing emotional literacy.