States Least Prepared for the Recession



            <div class="gallery-item">
                <h2>1. Mississippi</h2><ul>
  • Average unemployment rate in 2019: 5.05%
  • Labor force participation rate: 56.6%
  • People whose income is below the poverty line: 15%
  • Long-term liabilities per capita: $3,036
  • Average mortgage debt: $121,608
  • Homes with negative equity: 4.05%
  •             <div class="gallery-item">
                    <h2>2. New Mexico</h2><ul>
    
  • Average unemployment rate in 2019: 4.97%
  • Labor force participation rate: 56.2%
  • People whose income is below the poverty line: 15.1%
  • Long-term liabilities per capita: $3,977
  • Average mortgage debt: $160,967
  • Homes with negative equity: 3.3%
  •             <div class="gallery-item">
                    <h2>3. West Virginia</h2><ul>
    
  • Average unemployment rate in 2019: 4.87%
  • Labor force participation rate: 53%
  • People whose income is below the poverty line: 13%
  • Long-term liabilities per capita: $4,194
  • Average mortgage debt: $110,729
  • Homes with negative equity: 4.05%
  •             <div class="gallery-item">
                    <h2>4. Alaska</h2><ul>
    
  • Average unemployment rate in 2019: 6.37%
  • Labor force participation rate: 67.9%
  • People whose income is below the poverty line: 7.5%
  • Long-term liabilities per capita: $8,670
  • Average mortgage debt: $223,430
  • Homes with negative equity: $1.8%
  •             <div class="gallery-item">
                    <h2>5. Nevada</h2><ul>
    
  • Average unemployment rate in 2019: 4.13%
  • Labor force participation rate: 63.6%
  • People whose income is below the poverty line: 9.1%
  • Long-term liabilities per capita: $1,697
  • Average mortgage debt: $225,095
  • Homes with negative equity: 3.7%
  •             <div class="gallery-item">
                    <h2>6. Hawaii</h2><ul>
    
  • Average unemployment rate in 2019: 2.75%
  • Labor force participation rate: 65.6%
  • People whose income is below the poverty line: 5.7%
  • Long-term liabilities per capita: $12,056
  • Average mortgage debt: $344,819
  • Homes with negative equity: 1.8%
  •             <div class="gallery-item">
                    <h2>7. Louisiana</h2><ul>
    
  • Average unemployment rate in 2019: 4.51%
  • Labor force participation rate: 58.9%
  • People whose income is below the poverty line: 13.6%
  • Long-term liabilities per capita: $4,133
  • Average mortgage debt: $151,763
  • Homes with negative equity: 10.3%
  •             <div class="gallery-item">
                    <h2>8. New York</h2><ul>
    
  • Average unemployment rate in 2019: 3.95%
  • Labor force participation rate: 62.9%
  • People whose income is below the poverty line: 10%
  • Long-term liabilities per capita: $4,605
  • Average mortgage debt: $236,093
  • Homes with negative equity: 4.7%
  •             <div class="gallery-item">
                    <h2>9. Connecticut</h2><ul>
    
  • Average unemployment rate in 2019: 3.72%
  • Labor force participation rate: 66%
  • People whose income is below the poverty line: 7.1%
  • Long-term liabilities per capita: $17,418
  • Average mortgage debt: $225,386
  • Homes with negative equity: 8.5%
  • Afraid of a Recession? Get One of These 12 Jobs

                <div class="gallery-item">
                    <h2>10. Kentucky</h2><ul>
    
  • Average unemployment rate in 2019: 4.18%
  • Labor force participation rate: 59.3%
  • People whose income is below the poverty line: 12.6%
  • Long-term liabilities per capita: $9,960
  • Average mortgage debt: $126,310
  • Homes with negative equity: 4.5%
  •             <div class="gallery-item">
                    <h2>11. Arkansas</h2><ul>
    
  • Average unemployment rate in 2019: 3.57%
  • Labor force participation rate: 57.9%
  • People whose income is below the poverty line: 12.7%
  • Long-term liabilities per capita: $2,986
  • Average mortgage debt: $128,842
  • Homes with negative equity: 5.5%
  •             <div class="gallery-item">
                    <h2>12. Wyoming</h2><ul>
    
  • Average unemployment rate in 2019: 3.71%
  • Labor force participation rate: 65.8%
  • People whose income is below the poverty line: 7.1%
  • Long-term liabilities per capita: $3,989
  • Average mortgage debt: $184,625
  • Homes with negative equity: 3%
  •             <div class="gallery-item">
                    <h2>13. Florida</h2><ul>
    
  • Average unemployment rate in 2019: 3.37%
  • Labor force participation rate: 58.7%
  • People whose income is below the poverty line: 9.7%
  • Long-term liabilities per capita: $2,199
  • Average mortgage debt: $187,440
  • Homes with negative equity: 5.6%
  •             <div class="gallery-item">
                    <h2>14. Maryland</h2><ul>
    
  • Average unemployment rate in 2019: 3.75%
  • Labor force participation rate: 67.7%
  • People whose income is below the poverty line: 6%
  • Long-term liabilities per capita: $7,186
  • Average mortgage debt: $252,583
  • Homes with negative equity: 3.5%
  •             <div class="gallery-item">
                    <h2>15. Michigan</h2><ul>
    
  • Average unemployment rate in 2019: 4.13%
  • Labor force participation rate: 61.5%
  • People whose income is below the poverty line: 9.5%
  • Long-term liabilities per capita: $1,883
  • Average mortgage debt: $132,523
  • Homes with negative equity: 4.8%
  •             <div class="gallery-item">
                    <h2>16. Delaware</h2><ul>
    
  • Average unemployment rate in 2019: 3.37%
  • Labor force participation rate: 62.1%
  • People whose income is below the poverty line: 8.4%
  • Long-term liabilities per capita: $7,537
  • Average mortgage debt: $185,452
  • Homes with negative equity: 5.8%
  •             <div class="gallery-item">
                    <h2>17. New Jersey</h2><ul>
    
  • Average unemployment rate in 2019: 3.61%
  • Labor force participation rate: 65.8%
  • People whose income is below the poverty line: 6.9%
  • Long-term liabilities per capita: $18,928
  • Average mortgage debt: $239,362
  • Homes with negative equity: 6%
  •             <div class="gallery-item">
                    <h2>18. Arizona</h2><ul>
    
  • Average unemployment rate in 2019: 4.95%
  • Labor force participation rate: 59.8%
  • People whose income is below the poverty line: 9.9%
  • Long-term liabilities per capita: $2,194
  • Average mortgage debt: $202,148
  • Homes with negative equity: 3.8%
  •             <div class="gallery-item">
                    <h2>19. California</h2><ul>
    
  • Average unemployment rate in 2019: 4.15%
  • Labor force participation rate: 63.9%
  • People whose income is below the poverty line: 9.1%
  • Long-term liabilities per capita: $5,642
  • Average mortgage debt: $363,537
  • Homes with negative equity: 2.1%
  • What Is a Recession? Learn What Happens & What It Means For You

                <div class="gallery-item">
                    <h2>20. Illinois</h2><ul>
    
  • Average unemployment rate in 2019: 4.21%
  • Labor force participation rate: 65.4%
  • People whose income is below the poverty line: 8.5%
  • Long-term liabilities per capita: $12,816
  • Average mortgage debt: $177,150
  • Homes with negative equity: 7.1%
  •             <div class="gallery-item">
                    <h2>21. Massachusetts</h2><ul>
    
  • Average unemployment rate in 2019: 2.96%
  • Labor force participation rate: 66.8%
  • People whose income is below the poverty line: 6.5%
  • Long-term liabilities per capita: $11,518
  • Average mortgage debt: $252,207
  • Homes with negative equity: 3.5%
  •             <div class="gallery-item">
                    <h2>22. Rhode Island</h2><ul>
    
  • Average unemployment rate in 2019: 3.69%
  • Labor force participation rate: 63.8%
  • People whose income is below the poverty line: 9.1%
  • Long-term liabilities per capita: $5,717
  • Average mortgage debt: $185,646
  • Homes with negative equity: 5.5%
  •             <div class="gallery-item">
                    <h2>23. Iowa</h2><ul>
    
  • Average unemployment rate in 2019: 2.45%
  • Labor force participation rate: 66.9%
  • People whose income is below the poverty line: 7.2%
  • Long-term liabilities per capita: $1,656
  • Average mortgage debt: $131,709
  • Homes with negative equity: 6.3%
  •             <div class="gallery-item">
                    <h2>24. Wisconsin</h2><ul>
    
  • Average unemployment rate in 2019: 2.99%
  • Labor force participation rate: 66%
  • People whose income is below the poverty line: 7%
  • Long-term liabilities per capita: $2,589
  • Average mortgage debt: $138,935
  • Homes with negative equity: 4.7%
  •             <div class="gallery-item">
                    <h2>25. North Dakota</h2><ul>
    
  • Average unemployment rate in 2019: 2.39%
  • Labor force participation rate: 69.6%
  • People whose income is below the poverty line: 5.7%
  • Long-term liabilities per capita: $3,509
  • Average mortgage debt: $162,702
  • Homes with negative equity: 4.7%
  •             <div class="gallery-item">
                    <h2>26. Washington</h2><ul>
    
  • Average unemployment rate in 2019: 4.58%
  • Labor force participation rate: 64.6%
  • People whose income is below the poverty line: 6.3%
  • Long-term liabilities per capita: $8,169
  • Average mortgage debt: $262,641
  • Homes with negative equity: 1.5%
  •             <div class="gallery-item">
                    <h2>27. Montana</h2><ul>
    
  • Average unemployment rate in 2019: 3.55%
  • Labor force participation rate: 63.6%
  • People whose income is below the poverty line: 7.7%
  • Long-term liabilities per capita: $2,247
  • Average mortgage debt: $180,926
  • Homes with negative equity: 2.5%
  •             <div class="gallery-item">
                    <h2>28. Virginia</h2><ul>
    
  • Average unemployment rate in 2019: 2.84%
  • Labor force participation rate: 65.4%
  • People whose income is below the poverty line: 7.1%
  • Long-term liabilities per capita: $1,714
  • Average mortgage debt: $242,794
  • Homes with negative equity: 3.8%
  •             <div class="gallery-item">
                    <h2>29. Tennessee</h2><ul>
    
  • Average unemployment rate in 2019: 3.34%
  • Labor force participation rate: 61.3%
  • People whose income is below the poverty line: 11.3%
  • Long-term liabilities per capita: $641
  • Average mortgage debt: $155,844
  • Homes with negative equity: 3.3%
  •             <div class="gallery-item">
                    <h2>30. Oklahoma</h2><ul>
    
  • Average unemployment rate in 2019: 3.24%
  • Labor force participation rate: 61.2%
  • People whose income is below the poverty line: 11.4%
  • Long-term liabilities per capita: $609
  • Average mortgage debt: $134,244
  • Homes with negative equity: 2.1%
  •             <div class="gallery-item">
                    <h2>31. Ohio</h2><ul>
    
  • Average unemployment rate in 2019: 4.25%
  • Labor force participation rate: 63.1%
  • People whose income is below the poverty line: 9.7%
  • Long-term liabilities per capita: $3,243
  • Average mortgage debt: $122,765
  • Homes with negative equity: 4.9%
  •             <div class="gallery-item">
                    <h2>32. North Carolina</h2><ul>
    
  • Average unemployment rate in 2019: 4.05%
  • Labor force participation rate: 62.4%
  • People whose income is below the poverty line: 10.2%
  • Long-term liabilities per capita: $938
  • Average mortgage debt: $162,366
  • Homes with negative equity: 3%
  •             <div class="gallery-item">
                    <h2>33. Idaho</h2><ul>
    
  • Average unemployment rate in 2019: 2.86%
  • Labor force participation rate: 62.1%
  • People whose income is below the poverty line: 8.2%
  • Long-term liabilities per capita: $963
  • Average mortgage debt: $169,603
  • Homes with negative equity: 1.9%
  •             <div class="gallery-item">
                    <h2>34. Indiana</h2><ul>
    
  • Average unemployment rate in 2019: 3.44%
  • Labor force participation rate: 64%
  • People whose income is below the poverty line: 9.3%
  • Long-term liabilities per capita: $2,155
  • Average mortgage debt: $120,354
  • Homes with negative equity: 2.1%
  •             <div class="gallery-item">
                    <h2>35. Maine</h2><ul>
    
  • Average unemployment rate in 2019: 3.18%
  • Labor force participation rate: 62.9%
  • People whose income is below the poverty line: 7.3%
  • Long-term liabilities per capita: $2,812
  • Average mortgage debt: $136,963
  • Homes with negative equity: 7.7%
  •             <div class="gallery-item">
                    <h2>36. Pennsylvania</h2><ul>
    
  • Average unemployment rate in 2019: 3.94%
  • Labor force participation rate: 62.8%
  • People whose income is below the poverty line: 8.1%
  • Long-term liabilities per capita: $3,109
  • Average mortgage debt: $145,206
  • Homes with negative equity: 3.4%
  •             <div class="gallery-item">
                    <h2>37. South Dakota</h2><ul>
    
  • Average unemployment rate in 2019: 2.9%
  • Labor force participation rate: 68.2%
  • People whose income is below the poverty line: 8%
  • Long-term liabilities per capita: $650
  • Average mortgage debt: $150,913
  • Homes with negative equity: 4.05%
  •             <div class="gallery-item">
                    <h2>38. Minnesota</h2><ul>
    
  • Average unemployment rate in 2019: 3.23%
  • Labor force participation rate: 69.2%
  • People whose income is below the poverty line: 5.7%
  • Long-term liabilities per capita: $2,458
  • Average mortgage debt: $175,085
  • Homes with negative equity: 2.8%
  •             <div class="gallery-item">
                    <h2>39. Alabama</h2><ul>
    
  • Average unemployment rate in 2019: 3.44%
  • Labor force participation rate: 56.8%
  • People whose income is below the poverty line: 12.2%
  • Long-term liabilities per capita: $2,118
  • Average mortgage debt: $140,659
  • Homes with negative equity: 3.6%
  •             <div class="gallery-item">
                    <h2>40. Georgia</h2><ul>
    
  • Average unemployment rate in 2019: 3.7%
  • Labor force participation rate: 63.1%
  • People whose income is below the poverty line: 10.8%
  • Long-term liabilities per capita: $2,302
  • Average mortgage debt: $174,275
  • Homes with negative equity: 3.4%
  •             <div class="gallery-item">
                    <h2>41. Oregon</h2><ul>
    
  • Average unemployment rate in 2019: 4.18%
  • Labor force participation rate: 62.6%
  • People whose income is below the poverty line: 8%
  • Long-term liabilities per capita: $3,283
  • Average mortgage debt: $224,503
  • Homes with negative equity: 1.6%
  •             <div class="gallery-item">
                    <h2>42. Texas</h2><ul>
    
  • Average unemployment rate in 2019: 3.56%
  • Labor force participation rate: 64.5%
  • People whose income is below the poverty line: 11.4%
  • Long-term liabilities per capita: $3,474
  • Average mortgage debt: $176,736
  • Homes with negative equity: 1.7%
  •             <div class="gallery-item">
                    <h2>43. South Carolina</h2><ul>
    
  • Average unemployment rate in 2019: 3.21%
  • Labor force participation rate: 60.3%
  • People whose income is below the poverty line: 10.8%
  • Long-term liabilities per capita: $1,311
  • Average mortgage debt: $159,359
  • Homes with negative equity: 3.8%
  •             <div class="gallery-item">
                    <h2>44. Nebraska</h2><ul>
    
  • Average unemployment rate in 2019: 2.97%
  • Labor force participation rate: 69.1%
  • People whose income is below the poverty line: 7.1%
  • Long-term liabilities per capita: $282
  • Average mortgage debt: $139,626
  • Homes with negative equity: 4%
  •             <div class="gallery-item">
                    <h2>45. Missouri</h2><ul>
    
  • Average unemployment rate in 2019: 3.23%
  • Labor force participation rate: 62.5%
  • People whose income is below the poverty line: 9%
  • Long-term liabilities per capita: $1,809
  • Average mortgage debt: $139,320
  • Homes with negative equity: 3.7%
  •             <div class="gallery-item">
                    <h2>46. Vermont</h2><ul>
    
  • Average unemployment rate in 2019: 2.22%
  • Labor force participation rate: 65.7%
  • People whose income is below the poverty line: 6.2%
  • Long-term liabilities per capita: $5,154
  • Average mortgage debt: $147,236
  • Homes with negative equity: 4.05%
  •             <div class="gallery-item">
                    <h2>47. New Hampshire</h2><ul>
    
  • Average unemployment rate in 2019: 2.46%
  • Labor force participation rate: 67%
  • People whose income is below the poverty line: 4.7%
  • Long-term liabilities per capita: $2,555
  • Average mortgage debt: $178,409
  • Homes with negative equity: 4%
  •             <div class="gallery-item">
                    <h2>48. Kansas</h2><ul>
    
  • Average unemployment rate in 2019: 3.35%
  • Labor force participation rate: 66.3%
  • People whose income is below the poverty line: 8%
  • Long-term liabilities per capita: $2,527
  • Average mortgage debt: $137,542
  • Homes with negative equity: 2.1%
  •             <div class="gallery-item">
                    <h2>49. Colorado</h2><ul>
    
  • Average unemployment rate in 2019: 3.14%
  • Labor force participation rate: 68.7%
  • People whose income is below the poverty line: 6.2%
  • Long-term liabilities per capita: $3,175
  • Average mortgage debt: $258,026
  • Homes with negative equity: 1.7%
  •             <div class="gallery-item">
                    <h2>50. Utah</h2><ul>
    
  • Average unemployment rate in 2019: 2.85%
  • Labor force participation rate: 68.1%
  • People whose income is below the poverty line: 6.1%
  • Long-term liabilities per capita: $1,555
  • Average mortgage debt: $213,771
  • Homes with negative equity: 1.6%
  • More From GOBankingRates

    Methodology: GOBankingRates determined the states that are least prepared for the next recession by analyzing all 50 states along the following criteria: (1) current average annual unemployment rate, based on Bureau of Labor Statistics data available from January to October 2019; (2) unemployment rate year-over-year change as sourced from Bureau of Labor Statistics data available from October 2018 through October 2019; (3) labor force participation rate, sourced from the 2018 American Community Survey by the U.S. Census Bureau; (4) percentage of all people whose income is below the poverty line, sourced from the 2018 American Community Survey by the U.S. Census Bureau; (5) long-term liabilities debt per capita as sourced from Mercatus Research’s 2018 Ranking the States by Fiscal Condition report; (6) average mortgage debt as sourced from Experian’s second quarter 2019 data; (7) the average percentage of homes with negative equity as sourced form CoreLogic’s Homeowner Equity Insights through the second quarter of 2019 report; and (8) economic diversity, based on the percentage of employment in each city across 13 industries tracked by the Census Bureau compared to the percentage of employment for the U.S. overall; the greater the discrepancy, the more vulnerable the city. All eight factors were then scored and combined with the lowest score being the best. In final calculations, factor No. 2 was weighted 1 1/2 times and Factor (8) was weighted two times. All data was collected and is up to date as of Dec. 6, 2019.

    This article originally appeared on GOBankingRates.com: States Least Prepared for the Recession



    Source link

    Share this:

    The Usa Job

    The USA Job is one of the top personal finance blog where you can find hundreds of best ideas and news to make money, save money, investment tips for everyone for better life.

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.