Many Americans Are Trapped in a ‘Catch-22’ Economic Situation
In particular, young people living in rural areas face extreme hardship
While the economy and the job market have boomed in the post-Financial Crisis period, Americans living in “distressed” zip codes — which are increasingly rural — are struggling to find stability.
And their path to progress poses a “catch-22” situation, according to a researcher from the Economic Innovation Group (EIG).
“Young people are kind of trapped in debt in distressed communities,” EIG Research Director Kenan Fikri told Yahoo Finance. “And they don't really have a pathway to get out of their situation and be able to afford moving to a prosperous metropolitan area to try to turn the situation around. So it's really in a catch-22 that individuals who are trying to advance themselves from these communities end up landing.”
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