Directly from the financial and analytics website
WalletHub, a study reveals the grim reality of
our nation's ailing state of health. With a disconcerting
unemployment rate of over eight percent and a handful of industries in their
death throes, the virulence of COVID-19 has brought far too many jobs and
professions to a grinding halt—not just across the nation, but especially in
our home state of Louisiana.
To give an example using statistics as reported by
WalletHub, our state ranks a painful third place on a scale where 25 is the
average for detrimental changes in financial accounts. In other words,
Louisiana has had a massive number of people who are considered in distress by
the criteria of financial accounts either in forbearance or outright
declaration of bankruptcy. Credit scores are also largely in jeopardy, though
WalletHub offers options for those concerned, such as making it a point to
converse with your creditor about relief options akin to payment deferrals that
can stanch the financial bleeding.
For a brief but focused summary of the statistics
discussed in the article thus far, WalletHub has provided a video doing just
that, available through the link at the end of this article. As for official
relief, WalletHub agrees with the sentiment that our country desperately needs
another care package. As many know, though, a simple cash injection will not
solve long-term issues. We need more nuanced benefits, such as unemployment
checks extending until the crisis is largely passed. Prospects are, frankly,
quite harsh for Americans, and especially for Louisiana residents. Federal aid
has been fairly scarce, and with no tangible end to this nightmare on the
horizon, it is best we batten down the hatches and prepare to endure further
trials.
To view the summary video from WalletHub, click
HERE.
Visit wallethub.com to
see the full report.
