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Home  >  Austin Accountants  >  Financial status of Austin residents continues to improve

Financial status of Austin residents continues to improve

Posted on Wednesday, September 5th, 2012 at 9:41 pm.

A recent report shows that the financial situation in Austin continues to improve, potentially driven by job increases in scientific services, the professional sector, and the technology industry.

CredAbility, a nonprofit company based in Atlanta, recently released its CredAbility Consumer Distress Index for the second quarter of 2012. This index takes into account the condition of U.S. households by measuring employment, housing, credit, and net worth.

In the Austin area, the overall score for the second quarter was 74.3 of 100 points, which is up from the previous quarter. ¬†According to the scale, households are considered financially unstable if the score falls between 60 and 70. A score between 70 and 80 shows that households are at risk. A point value between 80 to 90 is considered good, and 90 to 100 is excellent. The nation’s score overall was placed at 71.25.

If you or a loved one would like help with your family’s financial planning, contact the Austin accountants today.