During the last few years, fewer couples have been getting divorced in Arizona and across the country. The recession caused high unemployment rates and crashed the housing market, leading to a decline in the divorce rate. Now that the economy is improving, the divorce rate is increasing.
In 2012, more than two million people got divorced in the United States, according to the Census Bureau. This is the third year that the divorce rate has increased in the last three years, showing the impact the economy has on the divorce rate in America.
Why would the economy impact the divorce rate? The finding that the divorce rate is linked to the economy is not too surprising if you think about the factors many couples consider before deciding to get divorced.
Couples often consider the financial impact divorce will have on their life as well as how their living situation will change. When the economy was down and unemployment rates were high, many spouses did not feel like they had a stable job and some spouses were unemployed, making it difficult to afford living on their own.
The housing market is also another big factor many couples look at when considering divorce. If the housing market is down, couples may not be able to sell their homes or buy new ones after the divorce. In addition, rents skyrocketed in many cities as the housing market crashed, making it difficult to find or afford a new place to stay.
The economy can have a significant impact on the divorce rate in Arizona, especially if couples are worried about job stability and financial security. However, now that the economy is improving, the divorce rate is expected to continue to increase as spouses feel more comfortable leaving their marriages and supporting themselves financially.