American households are under stress again, according to the latest consumer distress index by CredAbility.
“Despite the growth in jobs and an improved housing market, our index shows that the average U.S. household has seen little improvement in the past year and took a step back in 2013’s first quarter,” according to Phil Baldwin, CEO of CredAbility.
Baldwin is referring to the rise in payroll taxes at the start of the year, which has forced people to save more.
CredAbility adds that 49 million people are still on food stamps, and nearly 12 million are still unemployed.
American households on average scored 70.73% in the Q1 Consumer Distress Index, down from 71.77% in Q4. A reading below 70% indicates a state of financial distress.
The report measures financial distress in households in metro areas with a population of over 2 million, measuring employment, housing, credit, household budgets, and net worth.
Sacramento--Arden-Arcade--Roseville, California
Total: 66.06%
Employment: 44.30%
Housing: 73.29%
Credit: 83.11%
Net worth: 64.51%
A score below 70% indicates distress, according toCredAbility.
Allentown-Bethlehem-Easton, Pennsylvania
Total: 65.95%
Employment: 53.60%
Housing: 69.09%
Credit: 84.55%
Net worth: 59.82%
A score below 70% indicates distress, according to CredAbility.
Greenville-Mauldin-Easley, South Carolina
Total: 65.90%
Employment: 65.54%
Housing: 67.03%
Credit: 84.91%
Net worth: 59.30%
A score below 70% indicates distress, according to CredAbility.
See the rest of the story at Business Insider
Please follow Money Game on Twitter and Facebook.