Monday, July 25, 2005
Ohio's bankruptcy rate is higher than divorce rate
We offer this as a followup post to our earlier story about Ohio breaking it's bankruptcy recored.
While doing research on that post, we found this fascinating factoid that we have never seen reported elsewhere. Its from a report from February produced by our state's progressive think tank, Policy Matters Ohio:
While doing research on that post, we found this fascinating factoid that we have never seen reported elsewhere. Its from a report from February produced by our state's progressive think tank, Policy Matters Ohio:
In Ohio, 3.5 of every 1,000 people filed for divorce while 7.7 of every 1,000 people declared bankruptcy in 2003.PMO also tried to identify some of the causes of the high rate:
Ohio's high rates of job loss and long-term unemployment may explain the spike in bankruptcy in this state. Nationally, bankruptcy increases are correlated with low disposable income levels, lack of health insurance, and high unemployment. However, Ohio's relative ranking on these indicators is not nearly as problematic as its ranking on bankruptcy.
