Droughts are among the most damaging environmental disasters that may have destructive damages on societal properties and lives. Generally, socio-economic drought occurs when water resources systems could not fulfil the water demand. Additionally, it is not to be overlooked the role of local reservoirs in modifying uneven distribution of water and coping with climatic extremes. This study examined the evolution characteristics of the socio-economic droughts via applying a Multivariate Standardized Reliability and Resilience Index (MSRRI). Furthermore, the influences of anomalous atmospheric circulation on the socio-economic droughts were explored through adopting the cross wavelet analysis to investigate the meteorological driving force behind the socio-economic droughts. Results mainly indicated that (1) the MSRRI has proven to be effective in evaluating socio-economic droughts for its integration of inflow-demand reliability and water storage resilience indexes; (2) the MSRRI series in Datong River Basin (DRB) has a non-significant increasing trend at annual scale with apparent periods (17 and 22 years) and (3) the comprehensive effects of ENSO, EASM and PNA contribute to the socio-economic drought variations, and the ENSO has strongest impacts than others. The findings in this study benefit local socioeconomic drought mitigation and water resources planning and management.