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4:02 AM

The State of Working Moms

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The State of Working Moms

With Mothers Day fast approaching, examining how working moms fare from state-to-state is a timely exercise. According to WalletHub moms who are the sole support of their families make up almost three-quarters of all working women.

WalletHub offers the following state-by-state analysis of conditions for working moms.

Best States for Working Moms

Vermont
Minnesota
Connecticut
North Dakota
Massachusetts
Illinois
Wisconsin
Colorado
Kansas
New Jersey

Worst States for Working Moms

New Mexico
Georgia
Idaho
Mississippi
Arizona
Alaska
Louisiana
South Carolina
Alabama
Nevada

Comparing states based on issues of concern for working moms

Day Care

The survey rated New York as having the highest day care quality, 5 times better than Idaho, the state rated the worst for day care quality.

WalletHub rates Mississippi as having the lowest child care costs as a share of the median women’s salary, 12 percent. This is twice as low as Florida, the state with the highest. WalletHub estimates that in the Sunshine State child care consumes 27 percent of the median women’s salary.

Medical Care

The District of Columbia has nearly 50 pediatricians per 100,000 residents.  This is almost 18 times the ratio in Wisconsin, the state will the fewest, less than 3 per 100,000 residents.

Economics

The District of Columbia has the highest ratio of female executives to male executives, at just under 66. This is about 3 times more than the mark in Utah, the state with the lowest ratio of female to male executives, just under 26.

Maryland has the lowest percentage of single-mom families with minor children in poverty. At 26 percent, Maryland’s marker is about half that of Mississippi, the state with the highest percentage at nearly 52 percent.

Virginia sets the mark for the highest inflation-adjusted median women’s salary at nearly $45,500. This is two times higher than in Hawaii the state with the lowest, at less than 23,000.

The state with the lowest female unemployment rate is North Dakota. Its unemployment rate of just under 3 percent is about one-third that of the District of Columbia, the place with the highest woman unemployment rate at almost 8.5 percent.

For the full report, visit wallethub.com/edu/best-states-for-working-moms/3565/
7:38 AM
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The recently released Federal Reserve report on mobile banking shows a significant increase in adoption of the mobile channel for banking.

The growth in mobile banking parallels the broad proliferation of smartphones across American society, as well as a desire for convenience. The report is the Fed’s fifth annual study of mobile banking in America.

In the online survey 43 percent of adults with mobile phones and bank accounts reported having used mobile banking. This was a 4 percent lift over the report of the prior year.

Most commonly, mobile bankers used the channel to check account balances. Other popular mobile banking tasks were transferring money between accounts,  or receiving electronic alerts from their Fi.

The report shows that an impediment to adoption of mobile banking and payments continues to be security concerns.

Over half of mobile banking adopters cited the mobile channel as one of the three most important ways they interact with their banks.

Use of mobile payments continues to lag adoption of mobile banking.

The complete 2016 report as well as a video summary can be obtained at federalreserve.gov/communitydev/mobile_finance.htm