Going Broke in Ohio
Ohio News Network - February 23, 2005
Ohio News Network
A new study has found that Ohio bankruptcies increased at more than twice
the national average from 2000 to 2003.
The 67% rate was higher than every state but Michigan, which saw
bankruptcies rise 72%.
The report, co-written by nonprofit groups Policy Matters Ohio and the
Center for American Progress, says the national rate of increase was 31%.
The report’s authors and other experts cite high unemployment, rising
household debt and medical bills as major factors in bankruptcy filings in
Ohio and the nation.
Since 2000, Ohio has lost around 200-thousand manufacturing jobs.
Overall, Ohio ranked eighth among states based on 7.7 personal
bankruptcies per 1,000 people in 2003, a record for the state and up from
4.6 per 1,000 in 2000.
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