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Unemployment rate still high and poverty rate increased

There’s no denying it: Times are tough for many residents in Florida and all throughout the country. With unemployment rates still very high and the percentage of people living in poverty on the rise, many may be worried and looking for some sort of financial relief to stave off foreclosure and deal with accrued debts.

According to the recently released Census Bureau’s annual report for 2010, for the past two years the unemployment rate has stayed rather consistent around the 9 percent of the population mark. And, when looking at this year and 2012, there is also a good chance that the unemployment rate will continue to stay high.

However, the overall poverty rate has not stayed the same, as it increased from 14.3 percent in 2009 to 15.1 percent in 2010. Living in poverty equates to a family of four having an annual income of $22,314 or less. For 2010 in the United States there were 46.2 million Americans living in poverty.

Health coverage — or the lack thereof — was also included in the Census Bureau’s report. It was found that the percentage of uninsured has increased from 16.1 percent in 2009 to 16.3 percent in 2010. This means that one in every six people — or 49.9 million people in the United States — have no health insurance. This can equate to some people having to rely on credit cards in the case of a medical emergency.

Of course this information and realizing the dire needs that many are in can be depressing. However, it’s important to realize that all is not necessarily lost, and for those who are struggling financially, whether it’s feeling buried under credit card payments or fears of losing the family home, it’s best to give yourself peace of mind and at least look into what debt relief options may be available.

Source: Yahoo! News, “Census: US poverty rate swells to nearly 1 in 6,” Hope Yen, Sept. 13, 2011

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