States with most people in Covid-linked financial hardship

/ 10:34 AM September 22, 2020

With the unemployment rate at 8.4% and Americans still waiting for another Covid-19 relief package, WalletHub released its report on the States with the Most People in Financial Distress During COVID-19, along with accompanying videos and audio files.

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In order to shed light on the financial troubles experienced by people across the U.S., and to show where those difficulties are most pronounced, WalletHub compared the 50 states and the District of Columbia across nine key metrics. Its data set includes factors like the average credit score, the change in the number of bankruptcy filings between July and January, and the share of people with accounts in distress. WalletHub defines an account in distress as one which either is in forbearance or has its payments deferred.

Most Distressed  Least Distressed
1. Louisiana 42. Nebraska
2. Nevada 43. Connecticut
3. Indiana 44. North Dakota
4. Oklahoma 45. Minnesota
5. Florida 46. Oregon
6. Texas 47. New Hampshire
7. South Carolina 48. Alaska
8. Kansas 49. Massachusetts
9. District of Columbia 50. Montana
10. New York 51. Vermont

To view the full report and your state’s rank,  visit:
https://wallethub.com/edu/states-financial-distress-covid/78988/

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TAGS: economic hardship U.S., income shortfall, pandemic recession, pandemic-induced poverty, U.S. states with most economically distressed people
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