Only one in five Pennsylvanians has enough savings to cover three months of living expenses in the event of a layoff or loss of steady income, according to a report from the Corporation for Enterprise Development.
In Pennsylvania, 20.6 percent of households are what is known as asset poor, meaning they have little or no financial cushion to rely on, the national nonprofit advocacy group said.
Furthermore, its 2012 Assets & Opportunity Scorecard ranked Pennsylvania 14th in the country overall for how its residents fare in terms of achieving financial security across 52 measures in five areas: financial assets and income, businesses and jobs, housing and homeownership and health care and education.