States with high unemployment rates (around 4%), elevated household debt-to-income ratios (1.5-1.6), and significant portions of population unable to afford housing (50-57%) are more vulnerable to economic downturns, as these factors indicate financial strain and reduced economic resilience.
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Part 2 STATE RECESSIONS #usnews #moneytips #states #economics... #Shorts #thuy.com98Added:
This is part two of the 10 states most likely to be hit by a recession given today's economic climate. If you missed part one, go back and check it out.
Number five is going to be Indiana.
Indiana saw a drastic increase in unemployment last year by.8% bringing their total unemployment percentage to 4.3%.
They also have an average debt-to-income ratio per household of 1.5 meaning they spend $1.50 for every $1 they make. And 50% of Indiana's population cannot afford a new home. Number four is going to be South Carolina. South Carolina has an unemployment percentage of 4.2%.
The average debt-to-income ratio is 1.6 meaning they spend $1.60 for every $1 they earn per household. And 57% of the state's population cannot afford a new home. Number three is going to be Mississippi. Mississippi has an unemployment percentage of 4%. The average debt-to-income ratio per household is 1.5
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