Bankruptcy

Financial Stress Up Across Country

By meaghano

The Associated Press’ monthly economic analysis is out for May of this year and it confirms what many of you are feeling everyday: People are stressed out about their finances.

According to the survey, the most stressed states are California, Michigan and South Carolina. Across the country, stress is up slightly from April. From the report:

California has been battered by the housing bust, and Michigan has absorbed the brunt of the auto industry crisis.

“And South Carolina is a little bit of everything,” said Sean Snaith, economics professor at the University of Central Florida. “Manufacturing and construction jobs have been hard hit in the state.”

One common thread running through all three states is heavy jobs losses. Rising unemployment, in turn, is escalating foreclosures and bankruptcies.

Other states under intense financial stress include Oregon, Indiana and Tennessee. Las Vegas continues to be one of the most financially stressed cities.

Are you feeling stressed? Tell us how you’re coping.

Need stress relief? Learn how to stop creditor harassment.

Full post as published by The Bankruptcy Blog on July 06, 2009 (boomark / email).