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VAuroch comments on What is the difference between rationality and intelligence? - Less Wrong
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Didn't have a particular source in mind, was going off memory.
Looks like there's some debate over whether it has predictive power, but consensus is that EQ is a collection of mostly unrelated traits, and is heavily entangled with the big five, particularly neuroticism and openness, in an overlapping way. (My memory overstated the case somewhat.) This looks like a relatively representative study, and here are the abstract and docx of a study which concluded that EQ had no meaningful predictive power.
As far as the first study goes, I don't see why we should control for income and marital status. If EQ increases income in a way that increases life satisfaction then EQ is a highly useful construct.
That said there are political problems with treating openness as a variable to be maximized. Openness correlates with voting left in US elections. Teaching people to increase their abilities of emotional management might be politically easier to communicate.
A lot of personality tests are also easy to game if a person wants to score highly. The notion of intelligence supposes that getting high values in the test needs actual skill.