Nearly 40% of Connecticut residents could face financial calamity if they lost their job or suffered a health care crisis, according to a January report by the Corporation for Enterprise Development. Connecticut falls in the middle among all states in terms of how residents are faring financially, the group said. The report defined families as being financially insecure if they lacked savings to cover expenses at the federal poverty level for more than three months after a personal emergency. A Connecticut family of four would need nearly $6,000 to pay for basic expenses over a 3-month period, but 39.3% of the state families lack such a cushion, the report states, up more than 2 percentage points from last year.
Source: New London Day, 1/30/14, Financial Calamity
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