The Associated Press released their finding of their stress index study. According to the study, the US economic stress level decreased in April for the first time in two years, because of the growth in private sector jobs. Despite the improvements in unemployment and bankruptcies, foreclosures increased in April.
The economic stress index measures the economic stress of each state based on foreclosures, unemployment and bankruptcies, most of which are filed by bankruptcy attorneys. The Associated Press conducts this survey monthly.
The stress score is measured on a scale of zero to 100; the higher the number the more economic stress the citizens face. Nevada is a one state with a high economic stress level. Eighteen of the twenty most stressed counties are located in California. These areas are faced with a large number of foreclosures and bankruptcies facilitated by bankruptcy lawyers.
Although the stress levels are low for April, they are anticipated to rise in May due to the higher price of gas and the increase in unemployment.
States hit hardest by unemployment typically have more bankruptcies and foreclosures. California and Nevada have remained the top states for economic stress for many months, though the slow economy is affecting people in all states. Facing financial troubles force people to make tough decisions, like whether to declare bankruptcy. Getting the advice of an experienced bankruptcy attorney can determine if that is the best option for an individual.
