U.S. Economic Stress Peaks in December
San Jose Bankruptcy Attorney Notices U.S. Economic Stress Peaks in December
Despite the unemployment rate holding steady, this San Jose Bankruptcy Attorney thinks foreclosure and bankruptcy rates have risen. According to the associated press, in December 2009 the average U.S. County’s economic stress hit its highest point since the recession began in December 2007.
The AP's Economic Stress Index found that the average county's score in December was 10.8. The previous worst reading since the recession began in December 2007 was 10.3 in March 2009.
The index looks to a county’s unemployment, foreclosure, and bankruptcy rates and calculates a score from 1 to 100 based on those factors. Generally, any county whose score exceeds 11 is considered stressed. Approximately 45 percent of the nation's 3,141 counties were deemed stressed in December under this index.
Over the past six months, foreclosure rates have risen fastest in Western counties from Montana to Arizona. Bankruptcy rates in the past six months have grown fastest in Nevada, Arizona, California and Utah.
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