U.S. consumers still in financial distress but improving; Georgia lags behind
The financial picture for households in Georgia and across the country improved in 2011’s first quarter, as employment levels rose and consumers managed their budgets better, according to a study released Thursday by an Atlanta-based credit counseling agency.
Still, Georgia posted the second worst score on the Consumer Distress Index compiled by CredAbility, a nonprofit that helps consumers nationally with their debt problems.
And families across the U.S. remain in financial distress, according to the index.
The index is a quarterly measure that tracks the financial condition of the average U.S. household. It measures five categories — employment, housing, credit, how families manage household budgets and net worth.
A score below 70 indicates a state of financial distress on the index’s 100-point scale.
Among individual states, Nevada had the lowest score at 60.78 — up from 59.47 in the fourth quarter and 58.27 a year ago, according to the index.
Georgia consumers posted the next lowest score at 62.98 — up from 62.7 in the fourth quarter and 62.18 a year ago.
Both states continue to suffer from severe unemployment and housing problems, CredAbility said in a news release.
U.S. households scored a 68.15 on the index — up from 67.16 in the fourth quarter of 2010 and 65.62 a year ago. This year’s first quarter score was the highest one since the financial crisis intensified in 2008’s third quarter.
While the nation remains in financial distress –- scoring under 70 for the 10th consecutive quarter –- the 68.15 score reflects an increase in full-time and part-time jobs, a smarter use of credit and better management of household budgets, CredAbility said.
On the negative side, the score dropped in the housing category, reflecting minimal improvements in mortgage delinquency rates and rising vacancy rates in apartments and other rental housing, CredAbility said.
States with the most consumer distress
1. Nevada
2. Georgia
3. Michigan
4. Florida
5. Arizona
States with the least consumer distress
1. North Dakota
2. South Dakota
3. Wyoming
4. Nebraska
5. Alaska
- Henry Unger, The Biz Beat
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59 comments Add your comment
Blah Blah Blah!!!
May 19th, 2011
10:44 am
livinthegoodlife,
Never said only “Native Atlantan’s” could only live here, the problem is the mentality that the majority of the people moving(and already living here) have, it seems to be only about the $$$$, no one seems to be concern about the overall infrustructure, roads, water, etc. It’s all about the $$$$ isn’t it? Where has it gotten us? Twenty plus years and counting….. There was a point in time when Toledo, Cleveland, Dayton, etc. were probably great cities, just like as Atlanta is now…. If it wasn’t the case, people would have never been there in the first place, it isn’t about natives vs. transplants… I assure you it isn’t…. it’s about the overall :”Hollywood” fantasy the city has now…
Blah Blah Blah!!!
May 19th, 2011
10:48 am
Brady, YoMomma, Livingthegoodlife,
I’ve been writing local politicians for years begging for expansion of Marta, it is (has been) a problem, especially due to the suburban sprawl…. Now the younger general (as you mention Goodlife) is pushing for Marta more, but unfortunately with the HUGE expansion of people, houses/condos, etc. how do you create tunnels and other mass transit networks with the way the infrastructure is in the metro area now, sure there is still plently of greenspace in and around Atlanta, but the majority of areas where people live and would ride Marta and other forms of mass transit to and from have already been clogged by commericial property and new communities….
Bradley
May 19th, 2011
11:05 am
@Blah, Blah, Blah – Keep writing because we are making strides. Development or no development there are lots of options to go around, through, under, or in different manners. It has been done countless times and many times you can even get private investment because it helps out existing land owners, developers, businesses. Increases traffic passing through, as well as property values, and a sense of permanence.
Homer
May 19th, 2011
11:09 am
There are plenty of jobs available, small sampling below. Too bad we Americans didn’t want to study software development. Oh, wait. We would have studied it if we we sure that employers weren’t going to hire immigrants to do the job for less than the six figures we expect to earn.
SR Software Engineer- VXML, IVR Applications
Job Description:
Design, develop grammars, and tune complex speech recognition IVR applications for business customers
Qualifications:
Strong background in speech science, Voice User Interface (VUI) design, VXML development, Speech application tuning, Nuance tuning tools, and managing speech projects.
At least 7 years experience in speech VUI design field. Ability to develop complex directed dialog and Natural Language (“Say Anything”) grammars. MS Word, MS PowerPoint, MS Visio, MS Excel
Software Development Engineer I – Cloud Systems Engineer
Qualifications:
Strong experience in Linux and/or Windows OS, and working understanding of BIOS/BMC Firmware and IPMI standards.
Ability to develop scripts (Linux/Windows) to support the deployment and Customer’s environment.
Buckeye
May 19th, 2011
4:39 pm
“There was a point in time when Toledo, Cleveland, Dayton, etc. were probably great cities, just like as Atlanta is now…. ”
Please, stop with the dramatics. Atlanta has one things those cities will never have – location, location, location.
Atlanta boomed big, so the bust will take longer to recover from.
perryhayes657
May 20th, 2011
6:29 am
When you have had your mortgage for a long time, it is not a good idea to Refinance, let me stress again, DONOT refinance if you have your mortgage for long time, to avoid mistakes, use “123 Mortgage Refinancing” articles.
Double D
May 20th, 2011
7:16 am
Commom cents- true the unemployment rate in Florida is more but in some cities,
like the city I live in, the rate is much less.
Gee
May 21st, 2011
1:57 pm
As a long-time Atalanta resident I can tell you the problem with Atlanta now. Young, college-educated people- who used to flock here- are no longer interested. Of course, we may still attract second and third- tier student grads from the Southeast, but the movers and shakers of the future would never consider moving to Atlanta. They go to New York, San Francisco, Seattle, Denver, even LA & Chicago. There is no vibrant quality of life here- no urban core to attract them- besides the lack of good jobs-anything but the most pedestrian service industry jobs. Atlanta lost the ball about 10 years ago and with state politics as backward as they are- it will not be a player anytimne soon.
Bob Walters
May 22nd, 2011
2:01 am
Gee:
You forgot Atlanta has a fantastic recreational fishing industry. That was Sonny Do Little’s number one priority when he took office.