Tag: scorecard

Texas Ranks 41st in Assets & Opportunity

The 2016 CFED Assets & Opportunity Scorecard was recently released. CFED is the Corporation For Enterprise Development, an organization that works to create pathways for financial security and opportunity on a local, state and federal level. The Assets & Opportunity Scorecard ranks each state’s residents on five categories: financial assets and income, businesses and jobs, housing and home ownership, health care and education. Within each category are multiple subcategories, such as banking, net income, unemployment rate, low-wage jobs, foreclosure rates and more. Here are a few highlights from this year’s Texas scorecard; to read rankings, 1st is better in terms of economic opportunities for residents while 51st is worst (District of Columbia included as a state in survey): Financial Assets and Income Unbanked and underbanked households 10.4% of Texas households are unbanked while 27.4% are underbanked. “Unbanked” means a household does not have a checking or savings account, while “underbanked” households may have accounts but still rely on payday loans, pawn shops or money orders to get the money they need when they need it. Nationwide, 7.7% of households are unbanked while 20% are underbanked; this puts Texas ranking 41st in unbanked households and 50th in underbanked households–nearly the worst in the nation. Income poverty rate The income poverty rate is the number of households living below the federal poverty threshold. 15.7% of Texas households live in poverty, putting the state in 37th place. The average in the U.S. is 14.5%. Businesses and Jobs Low-wage jobs The low-wage jobs rating measures the number […]

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