AP analysis: Foreclosures raise US economic stress

By: Associated Press
By: Associated Press

Tuesday, February 8, 2011

UNDATED (AP) -- Americans are under more economic stress.

A monthly analysis by The Associated Press shows an increased number of foreclosures outweighed lower unemployment in December. Foreclosure rates rose in 33 states for that month -- most sharply in Utah, New Jersey, Nevada and Arizona. And bankruptcy levels remained largely unchanged from November.

The AP determines economic stress based on unemployment, foreclosure and bankruptcy rates.

For all of 2010, economic stress eased in every state by five. Stress fell most sharply in the Great Lakes states and Alabama, Mississippi and Tennessee in the South. Those states have large manufacturing bases.

The AP's analysis shows that economic stress dropped the most in counties with large percentages of workers in manufacturing.

For 2010, the sharpest increases in economic stress were in counties with heavy concentrations of real estate workers, such as Nevada, Florida, California and Georgia.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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