Prosperity Now Releases Massachusetts Scorecard
On July 25, 2017, Prosperity Now (formerly CFED) released the 2017 Scorecard. Despite an unemployment rate that has ticked downward and an overall improved economy, large numbers of Massachusetts families continue to struggle to save for a more prosperous future. 30.4% of Massachusetts households are liquid asset poor, meaning they have so little savings that they could not live at the poverty level for just three months if they lose a job or suffer another significant income loss. A new measure also shows that while 42.8% of households in the state did not set aside any savings for emergencies in the past year, that number is lower than the national rate of 43.7%. The data highlights the need for continued efforts in building awareness and support to advance the financial security of Massachusetts families. Learn more here.