The Economic Security Index, which measures how many households saw a 25 percent or higher drop in their disposable income in a year, fell 1.3 percentage points, meaning household incomes are stabilizing, according to a report released by the Rockefeller Foundation and Yale professor Jacob Hacker.
More than 20 percent of households felt large drops in their household income in 2010, a number that has dropped to 18.9 percent in 2011, a 1.3 decrease in percentage points, the largest in 25 years.
Statewide, the ESI in Utah fell 1.6 percentage points between 2010 and 2011.
While the ESI is driven mostly by income, debt and health costs can also have an effect on it. Household debt levels fell in 2011, which may have had the effect on the change in ESI.
Although the decrease in the ESI can have several good indications, the drop can also be caused by long-term unemployment.
- 1 number you should check each year to avoid...
- PacSun pulls T-shirt from shelves after...
- The 10 best cities in America for job seekers...
- Dave Ramsey says: Build your budget together
- Chobani founder and CEO Hamdi Ulukaya pledges...
- Index funds: A low cost way to solid...
- Michelle Singletary: How, and how much, to...
- Balancing act: Does parenting bring...
- Derek B. Miller: Politics may end up... 17
- PacSun pulls T-shirt from shelves after... 14
- 'Such a stress reliever': In Rhode... 13
- How strict should parents really be? 5
- More jobs are available, but new grads... 5
- Media CEOs are the highest-paid... 3
- Balancing act: Does parenting bring... 1
- Americans are very unsure about their... 1