The blog title sounds like a simple mathematical problem, but the solution is much more complicated. Thanks to technology and the digital age, it is easier than ever to see the big picture and visualize how each of these factors associated with the recession are impacting different parts of our country.
Let’s start with credit. It is common knowledge by now that we are experiencing a credit crunch, and foreclosures are skyrocketing through the roof. Back in February, we did a blog post about an interactive map of the United States that shows which areas of the country have the highest rates of default on mortgage and credit card loans. Since the blog post, it has been updated with several additional quarters of data and it is indeed sobering to see.
Enter the second factor in the equation, and the “Hunger map”. The Hunger map was created by Feeding America, and is an interactive map used to learn about hunger across the nation and the food banks that address the issue locally. You can pan across any individual state, and find statistics for overall hunger (called “food insecurity”), child hunger, population, poverty, and unemployment (although these numbers look to be a little outdated, so read on).
Add the final crushing blow to the equation, unemployment. Taken directly from the U.S. Bureau of Labor Statistics:
Since the recession began in December 2007, 5.7 million jobs have been lost. Non-farm payroll employment continued to decline in April (-539,000), and the unemployment rate rose from 8.5 to 8.9 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today (May 8).
Add to this more depressing numbers provided courtesy of the U.S. Department of Labor Statistics — unemployment rates in every one of the country’s 372 metropolitan areas are up over the same time the previous year. The data shows more than 100 locations with unemployment rates exceeding 10%, and a mere 20 areas with rates lower than 5%, the lowest at 3.5% in Houma, LA. The area with the highest unemployment rate was El Centro, CA, at a whopping 24.5%.
Not a pretty picture, is it? Seeing the numbers in black and white across the Red, White and Blue is particularly unnerving, at least from where I live (AZ), one of the highest areas for mortgage and other credit-related defaults. If you live in Mississippi, you have an 18% chance of not having enough to eat on a regular basis.
So much bad news these days, and so easy to get it. Does anyone out there long for the days where there was no television and everyone huddled around the radio for the nightly address?
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The blog title sounds like a simple mathematical problem, but the solution is much more complicated. Thanks to technology and the digital age, it is easier than ever to see the big picture and visualize how each of these factors associated with the recession are impacting different parts of our country.
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LISA