Arizona’s level of financial distress grew in the first quarter of 2011.

Credit counseling agency CredAbility reported Thursday in its CredAbility Consumer Distress Index that Arizona was the fifth-most financially distressed state at the beginning of 2011. The index noted Arizona suffers from high unemployment and housing problems.

Arizona scored about 64 percent in the index, while the national average was 68.2 percent. A score below 70 indicates a state of financial distress. The index is a quarterly measure that tracks the financial condition of the average U.S. household. It measures employment, housing, credit, how families manage household budgets and net worth.  Here’s the 10 most distressed states:

  1. Nevada
  2. Georgia
  3. Michigan
  4. Florida
  5. Arizona
  6. Tennessee
  7. Alabama
  8. Mississippi
  9. Rhode Island
  10. South Carolina

The 10 least distressed states:

  1. North Dakota
  2. South Dakota
  3. Wyoming
  4. Nebraska
  5. Alaska
  6. Vermont
  7. Iowa
  8. New Hampshire
  9. Washington, D.C.
  10. Virginia

Click here for the full report.

Source: BizJournals

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