San Antonio could be the poorest big town in America, but town leaders are attempting a fresh approach into the stubbornly uphill battle against poverty.
After the town circulated a written report analyzing poverty in San Antonio, regional leaders are searching to enhance financial literacy and usage of economic solutions as an economical way to reduce poverty.
In 2018, 45 % regarding the metro area workforce received a median earnings at or below $34,000. That 12 months, the income that is median one out of each and every 10 employees into the city had been significantly less than $21,000, based on federal information.
The town is mulling options to short-term, high-interest loans вЂ” payday advances вЂ” as well as further investing in work training and counseling that is financial lower-income regions of the town.
A 2017 research discovered individuals in San Antonio have actually reduced credit that is average and greater amounts of delinquent financial obligation compared to the nationwide average, in line with the Urban Institute.