AP: Unemployment, housing issues continue to take a toll across
the nation
Soaring unemployment combined with high foreclosure and
bankruptcy rates moved San Benito County to No. 5 on The Associated
Press’s list of most economically stressed counties in the United
States, according to the latest Economic Stress Index.
Using a score from 1 to 100 based on unemployment, foreclosures
and bankruptcy rates, the index measures stress in counties with a
population of at least 25,000. In January, the most recent month
for which data is available, San Benito’s score was 25.45, the
fourth-highest in California and fifth-highest overall.
AP: Unemployment, housing issues continue to take a toll across the nation
Soaring unemployment combined with high foreclosure and bankruptcy rates moved San Benito County to No. 5 on The Associated Press’s list of most economically stressed counties in the United States, according to the latest Economic Stress Index.
Using a score from 1 to 100 based on unemployment, foreclosures and bankruptcy rates, the index measures stress in counties with a population of at least 25,000. In January, the most recent month for which data is available, San Benito’s score was 25.45, the fourth-highest in California and fifth-highest overall.
The score moved San Benito from the 12th-most economically stressed county in the U.S. in November 2010. A higher score indicates more stress, and a county is considered stressed when its score exceeds 11.
Despite the increased stress level, the county’s score actually fell by nearly a point year-to-year, with the unemployment rate down .3 percent from January 2010 and foreclosures down more than 1 percent over the past year. However, the stress score rose more than 1 point month-to-month. By comparison, the county’s Economic Stress Index Score was 9 in October 2007, when economists say the recession began.
Seven California counties were on the Top 10 most-stressed list for January, with Imperial County having the highest score in the nation at 29.32. Fresno, Stanislaus and Merced counties all made the list, though no others in the Monterey Bay area did.
Monterey County had a Stress Index score of 20.65 for January, with Santa Cruz at 17.49 and Santa Clara at 13.12.
The AP reported that stress declined in 34 states in January, with unemployment dropping in nearly three-quarters of counties and bankruptcy and foreclosure numbers dropping. The average county score in January was 11.2, compared to 11.9 in January 2010.
The healthiest states in January were in the Plains and New England, while the healthiest counties were Ellis County in Kansas (4.16 score) and Buffalo County, Neb.
Pinnacle wire services contributed to this report.
