About Fifty Million Americans are Living in Economic Pain

Stock-Market-despairA study was performed, and it was found that majority of Americans are living in great distress. They have been living in that condition since great recession happened. About fifty million Americans are staying in regions where it is economically distressed. The domestic recovery remains uneven till date. The Economic Innovation Group has released a report, and it states that there is more than twenty-five thousand ZIP codes have recovered after the Great Recession. It accounts to 99% of the United States population. ZIP code results were amassed to profile retrievals in individual counties, congressional districts, cities, and states.

Camden in New Jersey is a city that is considered to be the America’s most dangerous and poorest locales. It is also one of the most economically distressed cities in America. The EIG passes it.

Other cities that are entrenched in poverty in America include Gary, Indiana¸ Flint, Michigan and Youngstown, Ohio frequently features in the report. Among the largest cities in America – New Jersey (Newark) and Detroit (Cleveland) tops as the most distressed cities in the country.

lead_960Most distressed cities in America include Detroit, Flint (Michigan), Albany (Georgia), Harlingen (Texas), Utica (New York), Hartford (Connecticut), Youngstown (Ohio), Gary (Indiana), Cleveland and Camden (New Jersey).

Steve Glickman executive director and co-founder of EIG told in a statement together with the report that millions of Americans are continuing to feel left behindhand by the financial recovery.

Accomplishing the dream of American should not be prearranged by the ZIP number where you have been born.

The researchers of the study examined Census Bureau information and recorded regions depending on their populations corresponding business establishments, employment opportunities, median incomes, poverty levels, unemployment, housing vacancies, and educational attainment. ZIP codes of the city were recorded on a measure from zero to one hundred. The bottom 20% were defined as distressed.

article-0-193DFB3000000578-706_636x382ZIP codes that were in the lowest group were home to more than fifty million United States citizens. A large share is seen in the Southern part. The Southern States hold about 37% of the United States total population. It is home to more than 52% of the American citizens who are economically distressed individuals. 35% of Alabamians and 40% of Mississippians live in ZIP codes that are economically distressed.

For the sake of comparison, Vermont’s of about 1%, New Hampshire residents of about 2% and Maine’s population of about 4% live in economically affected ZIP codes.

Population expansion serves to drive local needs for services, shops, houses and jobs effectively permitting a local frugality to grow together with its total headcount. However, the area that has not been growing does not attract new businesses.

To conclude, the report clearly depicts the US recovery pictures and about the pin codes that are still in distressed position.

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