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The Inclusive Economy
New Scorecard Data Shows Economic Recovery Bypassing Million of American Households
By Jennifer Brooks, Kasey Wiedrich, Lebaron Sims and Solana Rice on 01/29/2015 @ 09:00 AM
This morning marks the official release of its 2015 Assets & Opportunity Scorecard, which looks at 135 different measures to paint a picture of how residents are doing in their quest to achieve financial security, and what states are doing to help get them there.
The 2015 Scorecard finds that millions of Americans are seeing little evidence of economic recovery, despite the fact that several indicators suggest the economy is improving. The research finds substantial disparities between low-income households and their wealthier counterparts, as well as between white households and households of color. For example, while 72% of white households own their home, only 46% of households of color can say the same.
Produced annually, the Assets & Opportunity Scorecard offers the most comprehensive look available at Americans' ability to save and build wealth, stay out of poverty and create a more prosperous future. It is designed to be a powerful tool that advocates can use to educate policymakers and other community leaders about the need for strategies that help individuals and families get ahead.
Features of this year's Scorecard include:
- New state-by-state data on low-wage jobs and annual pay. Average annual pay declined in 36 states and DC.
- New numbers on consumers with subprime credit scores who may rely on predatory lending services. Nearly 56% of consumers have subprime credit scores.
- Two new measures: state-by-state data on income inequality and the number of disconnected youth.
- An online liquid asset poverty calculator, which you can use to determine how much you'd need in savings to weather a financial crisis, or to see how many households in your community are liquid asset poor.
- Customizable charts and graphs and downloadable data and policy resources.
The Assets & Opportunity Scorecard is made possible each year thanks to the many Assets & Opportunity Network Leaders who are committed to expanding the reach and deepening the impact of asset-based strategies that create economic opportunity. It is also possible thanks to the generosity of its funders, including the Ford Foundation, Northwest Area Foundation, Paul G. Allen Family Foundation, Walter S. Johnson Foundation and Surdna Foundation.
Click here for a full list of news stories on the Scorecard, and click here to access the full 2015 Scorecard.
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