The 10 Americans Cities with the Biggest Drop in Wages

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Business growthRecent statistics released by the U.S. Bureau of Labor Statistics (BLS) show that wages are continuing to fall in 10 American cities. CashAdvanceOnline.net shows the wage-drop hot spots across the nation. In many of these cities and states, payday loans may be able to help provide consumers extra relief to meet emergency costs and living expenses.

The 10 Americans Cities with the Biggest Drop in Wages

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According to the BLS figures, the ten cities with the biggest decline in wages are:

1. Anniston-Oxford, Alabama

  • -2.4% decrease in weekly wages in 2012.
  • Average weekly wage of $743.
  • 6.8% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. Alabama is a “payday loan” friendly state, permitting both storefront and online lending. A maximum of $500 can be borrowed for a total period of 31 days. The maximum simple term interest rate is 17.5% plus 3% after default.

2. Rocky Mount, North Carolina

  • -2.3% decrease in weekly wages in 2012.
  • Average weekly wage in this city is $689
  • 13% unemployed in 2012.

Are payday loans available to individuals in this area?

No. Payday loans, both store front and online, are prohibited in North Carolina.

3. Elizabethtown, Kentucky

  • -1.8% decrease in weekly wages in 2012.
  • Average weekly wage of $752.
  • 7.3% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. Kentucky is a “payday loan friendly” state, permitting both storefront and online lending. A maximum of $500 and no more than two loans can be borrowed for a total period of 60 days. The maximum simple term interest rate is 17.65%.

4. Atlantic City, New Jersey

  • -1.4% decrease in weekly wages in 2012.
  • Average weekly wage in this city is $816.
  • 14.9% unemployed in 2012.

Are payday loans available to individuals in this area?

No. Payday loans, both store front and online, are prohibited in New Jersey.

5. Flint, Michigan

  • -1.4% decrease in weekly wages in 2012.
  • Average weekly wage of $816.
  • 9.1% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. Michigan is a “payday loan friendly” state, permitting both storefront and online lending. A maximum of $600 can be borrowed for a total period of 31 days. The maximum simple term interest rate is 15%.

6. Kennewick-Richland-Pasco, Washington

  • -1.3% decrease in weekly wages in 2012.
  • Average weekly wage of $894.
  • 9.7% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. Washington is a “payday loan friendly” state, permitting both storefront and online lending. A maximum of $700 or 30% of an individual’s gross monthly income, whichever is less, can be borrowed for a period of time equal to two times the borrower’s pay cycle. The maximum simple term interest rate is 15%.

7. Las Cruces, New Mexico

  • -1.2% decrease in weekly wages in 2012.
  • Average weekly wage of $678.
  • 6.7% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. New Mexico is a “payday loan friendly” state, permitting both storefront and online lending. A maximum of $2,500 with a cap of 25% of an individual’s gross monthly income can be borrowed for a total period of 35 days. The maximum simple term interest rate is 15.5%.

8. Ocean City, New Jersey

  • -1.1% decrease in weekly wages in 2012.
  • Average weekly wage of $737.
  • 17.3% unemployed in 2012.

Are payday loans available to individuals in this area?

No. Payday loans, both store front and online, are prohibited in New Jersey.

9. Sandusky, Ohio

  • -0.8% decrease in weekly wages in 2012.
  • Average weekly wage of $701.
  • 7.3% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. Ohio is a “payday loan friendly” state, permitting both storefront and online lending. A maximum of $500 and a total number of four loans per year can be borrowed for a total period of no less than 31 days each. The maximum Annual Percentage Rate is 28%.

10. Santa Cruz – Watsonville, California

  • -0.8% decrease in weekly wages in 2012.
  • Average weekly wage of $849.
  • 11.2% unemployed in 2012.

Are payday loans available to individuals in this area?

Yes. California is a “payday loan friendly” state, permitting both storefront (with a California license) and online lending. A maximum of $300 can be borrowed for a total period of 31 days. The maximum simple term interest rate is 17.65%.

If you live in one of the above cities or states that permit payday loans, CashAdvanceOnline.net can help.

We can connect you to reputable online lenders that can pay out emergency short term loans within a matter of hours, directly into a checking account.

Click here to apply for free!

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