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Stress drops, although debt consolidation may help those still facing problems
By Edith Barlow on Jun 12th, 2010
Facing debt problems or unemployment, some consumers in the country may feel more stressed out.
However, a recent monthly report from the Associated Press found that the nation's stress level has dropped on the whole, thanks to employment improvements seen in Midwestern states like Wisconsin. That state's chief economist, John Koskinen, said that the state has added roughly 10,000 manufacturing jobs in the last five months.
The country's average stress dropped from 11.5 to 10.6 in May, according to the AP's index. Eleven or above on the scale indicates that people in an area are feeling more stress.
When establishing the index, the AP takes into account circumstances such as foreclosure or bankruptcy. Higher levels of debt could force consumers to consider these options, although they may have other avenues they can take.
For example, debt consolidation may help to reduce interest rates on credit cards. Through saving money in this way, people may be able to tackle other problems like mortgages. Debt consolidation might also make paying bills easier by reducing the number of statements people get every month.
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