Study: Tennessee ranks 14th for economic distress signs
Nashville Business Journal
Tennessee ranked 14th nationally for signs of economic distress in a new study released by the Kaiser Family Foundation.
The study ranked each state by changes in foreclosure rates, unemployment and participation in food stamp programs.
One in every 664 homes was foreclosed on in the Volunteer State in October, the study says, which puts Tennessee 20th in the nation for foreclosures.
October’s 2 percent climb in unemployment in Tennessee ranked the state 10th compared to October percentage hikes in other states.
From August 2007 to August 2008, 6.8 percent more people joined Tennessee’s food stamp program. 29 other states had larger annual food stamp percentage hikes than Tennessee did.
Florida is the hardest hit state, according to the study. It ranked third in foreclosures, second in unemployment and first in its food stamp participation rank, with a 22.4 percent spike from a year ago.
Nebraska is apparently experiencing little economic distress so far. The state ranked at the bottom of the study with low marks across the board, including only one foreclosure for every 15,497 homes.
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