New Jersey is smack in the middle nationally when it comes to residents’ financial security, according to a study by the Corporation for Enterprise Development (CFED), rankingamong states and the District of Columbia. CFED, which looked at 60 measures of financial health, is a Washington-based advocacy group for low- and moderate-income families.
The biggest reason for New Jersey’s relatively low ranking is its continued problems with foreclosures, mortgage delinquencies, housing-cost burden, and low rates of home ownership. New Jersey was also criticized for its high rate of residents without health insurance and for income inequality. It did get kudos for its relatively educated population and did well when it comes to businesses and jobs.
Despite its ranking on outcomes, New Jersey did well on policy. It was rated fourth in the country for anti-poverty policy measures, although the report identified many measures that could be improved upon.