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Locals have worst financial security in the U.S.

Posted at 6:32 PM, Jan 25, 2016
and last updated 2016-01-26 08:35:13-05

Nevada ranks 48th in the country when it comes to the financial security of residents, according to a new report by the Corporation for Enterprise Development.

The Assets and Opportunity Scorecard blames a high unemployment rate and low paying jobs for the desperately low ranking.

Since the recession hit, Nevada has been able to cut unemployment to nearly 6.4 percent.

According the study, that isn't enough. The silver state is still coming in with the third lowest home ownership rate and the county's most underpaid employees.

"Number one, some of this is just going to be time. Number two, we have to create opportunities for younger families to get into homes and build equity, and number three we have to keep the unemployment rate going down," said Jeremy Aguero, financial expert with Applied Analysis.

For people like Ricci Meeks, finding stable work and providing for his family hasn't been any easier since the recession.

"I've just been out here struggling just trying to make ends meet for my family," said Meeks.

He has been out of work for 6 months and lends on Job Connect to find a job.

"I'll take anything, anything will be fine for me," Meeks said.

So could this be the new normal for Nevadans?

Financial experts say no. The report also hails Nevada as one state making strides to improve our economy through economic policies.

Nevada ranked high for having policies dealing with education, heath care and homeownership.

To view the full report: Nevada Ranks 48th in Financial Security 

To see how Nevada ranked compared to other states, click Comparison .