Building Toward Economic Mobility in Mississippi: State Profile
April 10th, 2012
A recent report released by the Corporation for Enterprise Development (CFED) illustrates Mississippians struggle to obtain financial security post-recession. The 2012 Assets and Opportunity Scorecard assesses the 50 states and the District of Columbia on different outcome and policy measures related to financial security.
- 32 % of Mississippi households live in asset poverty
- 69 % of Mississippi consumers have a subprime credit
- 36 % of jobs in Mississippi are low-wage jobs
- 35 % of homeowners in Mississippi are cost burdened
- 21 % of people in Mississippi are uninsured
- 20 % of adults in Mississippi have at least a 4-year college degree
What Can Mississippi Do?
Mississippi can create more viable opportunities for people to build their assets for future investments through a balanced approach. This includes, but is not limited to, enacting tax credits for working families, enhancing protections from short-term predatory lending, funding microenterprise development, providing first-time homebuyer assistance, expanding income eligibility for state programs, and providing access to quality K-12 education.
Over the next several months, MEPC will be sharing information about the Scorecard and promoting policy options for building assets among low-wealth families.
Source: CFED, Assets and Opportunity Scorecard, 2012.