Georgia’s financial distress owes to housing, credit, employment woes

Georgia didn’t fare very well in any area of the latest CredAbility Consumer Distress Index.

As noted in a story by the AJC’s Arielle Kass, Georgia ranked as the third most financially distressed state in the union in the fourth quarter of 2011.

That low ranking was reflected in the individual category measurements used by CredAbility, including employment, housing, credit, household budget and net worth.

Of those areas, Georgians did best in net worth where the state’s residents were only the 26th most distressed.

Georgians also ranked in the middle in household budget, at 25th.

Where we really fared poorly was in employment at No. 8, in credit at No. 6 and in housing at No. 5.

Probably no surprises there.

11 comments Add your comment

Nancy

February 15th, 2012
10:36 am

Due to long term unemployment, my family has been greatly impacted. When jobs are elimated or one is dismissed due to work force reduction, there is not a lot one can do besides continue to seek gainful employment. Folks will be quick to say, “Take any job.” However, when the employer wants to know if you have 5 years of experience in a retail setting and you don’t, then the person is deemed unqualified. If the employer wants to know if you have previous experience in fast food or the restaurant industry and you don’t, again the person is considered unqualified. The take any job theory is not that simple. Unemployment does not last forever, if one can get it, and there are not as many options as people think when it comes to paying existing debts. Maybe there are answers I don’t know about that someone can share.

gregory

February 15th, 2012
11:09 am

GA residents pay 31 percent more for natural gas than any other state, schools are the worst due to the chamber of commerce only interested in building schools and other contracts for connected crooks, see schools in Buckhead. The insurance commissionaire is a lap dog for the insurance companies, so they raise rates at a whim.. The gov refuses to place restrictions on payola to politicians, so lobbyists run the state. Ever notice the attorney general of Georgia is as useful as teats on a bull you could steal his lunch while he is eating it and he would not notice as long as you placed a dollar bill on the other side of the table. Most corrupt. Disgusting, they do not even need to go to court to foreclose your home. They fact they keep voting these crooks in amazing in how ignorant the voters are in the boon docks.

joe

February 15th, 2012
12:16 pm

@ Nancy, I certainly can feel for you and anyone who has lost a job…but here’s my point. When I lost my job, I sent out as many resumes as I could, took any interview and when there wasn’t anything around that I really wanted, I took 2 part time jobs…one as a bartender and the other a courier to keep money coming in to just stay afloat until I landed something in my profession at a good salary. My point is do whatever it takes until the breaks go your way. Take some personal responsibility. Don’t sit back on your duff and rely on the government to take care of you with food stamps, cell phones, etc…show your drive and things will work out. Companies that hire take note of what you were doing while out of work. Freeloaders who don’t work/pay taxes who just sit back and suck on the government teet are unamerican.

Sterling Smith

February 15th, 2012
12:22 pm

What do you expect when the GOP controls the state government? I guarantee you there are some rich people getting richer in the state.

John

February 15th, 2012
12:29 pm

Georgia ranks last because so many of its residents are uneducated, under-educated or have failed to maintain a marketable skill set. There are millions of jobs available in the US that have gone unfilled because employers cannot find qualified people to fill them. Employers need applicants with degree in fields such as advanced mathematics, physical sciences, computer science, nursing, medicine, and health research…. outside of metro Atlanta… you just don’t find people prepared in these fields.
Service industry and manual labor oriented jobs are the first to fall and often the last to recover thus GA will remain at the bottom of the rankings. The data shows if you want a job and want to keep a job earn an advanced degree – the higher degree you obtain the more likely you will remain among the ranks of the employed.

Guest

February 15th, 2012
1:17 pm

“There are millions of jobs available in the US that have gone unfilled because employers cannot find qualified people to fill them.”

Correction: Employers cannot find qualified people *willing to work for unrealistically low pay* to fill them. If they offered better compensation, they’d soon find that the “labor shortage” is a myth.

If a jobseeker’s online search for accounting positions with $1MM salaries yields no results, should he conclude that there are simply no openings in the field? No, he should adjust his salary requirement to a more reasonable level.

Steve

February 15th, 2012
2:21 pm

GOP run conservative state is struggling the most? No way…but I bet we have more millionaires this year than we did last year!!

Truth

February 15th, 2012
2:26 pm

The 2 main problems I see everyday:

1. Employers don’t have the bandwidth to train people anymore.

2. The only way to stay with the market is to jump to another company.

Example: If a Fortune 500 company wants someone to be a Manager in their Corp Finance department, they are going to want someone who has managed in a Corp Finance Dept of some other Fortune 500 company (with at least the same revenues), experience managing the same number of people, familiarity with the same software packages, etc. They want that proven person to walk in the door on day one and know exactly what needs to be done.

* And they ARE going to pay the new person more than what they paid you, because in the 10 years you were there, your merit increases didn’t keep pace with the market

Employers will pay for the role, but only when they have to. Only after you leave or get run out. There is no loyalty anymore.

My advice: Get paid, always be looking for your next gig, and don’t stay anywhere more than 5 years!

ep

February 15th, 2012
2:29 pm

Gotta love those “pro-business” measures that have the jobs flowing into Georgia. Sorry folks, if you have not noticed, trickle down does not work.

woodrow

February 15th, 2012
3:26 pm

The south has always been in last place economically. That’s why they attempted to secede from the Union. And all these black folks are low-wage slaves now. People are grumbling. People are getting ticked off. And I don’t blame them. They are infected with hope. And woes be if they don’t get satisfaction. The poor will pick your 1% carcass clean.

Tyler Durden

February 15th, 2012
7:07 pm

Some evidence for John and Guest: I read an online job ad for a CDL-A driver with pay of $11.00 per hour. I hope they get what they pay for and I hope the driver can keep it in the road. That is a gross annual salary of less than $23k. John, can you live on that?