US
Study Claims 50 Million Americans Live In Economically Distressed Communities
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50.4 million Americans live in economically distressed zip codes, according to a recent analysis by the Economic Innovation Group.
The D.C.-based group’s Distressed Communities Index (DCI), which used data from 25,000 zip codes and 312 million Americans, shows large portions of the nation have not yet fully recovered from the recession.
“Millions of Americans continue to feel left behind by the economic recovery. The DCI helps us understand what is driving these sentiments and why, and how, place matters,” Steve Glickman, co-founder and executive director of EIG, said in a statement Thursday. “Achieving the American dream should not be predetermined by the zip code where you happen to be born.”
.@InnovateEconomy‘s mapping tool offers insights on distressed cities & economic inequalityhttps://t.co/enUUzxi8yLpic.twitter.com/AtfJUNMM6c
— Stephen Goldsmith (@GoldsmithOnGov) February 29, 2016
The think tank found that between 2010 to 2013, distressed zip codes, on average, saw a 6.7 percent loss of employment and 8.3 percent of businesses closing. In contrast, zip codes that were economically thriving saw a 17.4 percent boost in job growth and an 8.8 percent jump in business growth
Texas had the largest number of people living in struggling communities with 5.2 million, followed by California with 4.3 million, Florida with 3.3 million, Georgia with 3.0 million and New York with 2.5 million.
While a large number of people live in zip codes that haven’t bounced back, more live in prosperous zip codes — 84.4 million Americans, or 27 percent, live in thriving areas.
The country’s slow recovery has left distressed communities further behind, EIG said in its report.
“And once distress sets in, it seems to persist: even the country’s most dynamic and successful cities struggle to achieve geographically equitable prosperity,” the study reads. “New approaches are needed to enable more people in more places to participate in and benefit from economic growth.”
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