The Associated Press' monthly analysis of economic stress was released Thursday, providing a glimpse of economic conditions on a national, state and country level during the month of February.
Looking at the AP's map of economic stress, the West Coast appears to have been hardest hit by the recession, particularly California.
Considering the state's massive unemployment rates, persistent fiscal crisis and fleeing business sector it begins to make sense. The Golden State also accounted for 20 percent of all small business bankruptcy filings in the U.S. last year, according to Equifax.
However, it's important to note that the overall report shows improvements, not only for businesses looking to incorporate in California but for the rest of the nation as well.
"Unemployment declined or remained the same in more than three-quarters of the nation's 3,141 counties and in 43 states," the AP reported in reference to February's statistics. "Bankruptcies declined in more than half the counties and in 41 states. Still, foreclosures rose in more than half the counties and in 27 states."
Notably, the average U.S. county's stress score dropped 0.2 points to reach 11 - the exact figure that the index considers to be a county experiencing economic stress.
Most striking is Imperial County, California, which observed a score of 30.77 in February and a whopping unemployment rate of 26.9 percent.
Tags : ca, financial management, incorporation news, small business management
Posted: Apr 14th, 2011