Family Law Blog

As US Economy Improves, Divorce Rates Spike

Friday, February 21, 2014

As the US economy begins to improve, divorce rates that had been plummeting over the past few years, have begun to show an upward trend again. According to new data, as the employment situation improves and businesses report greater revenues, the number of couples who make that call to a divorce lawyer has also begun to increase.

This is a trend that California divorce lawyers have been expecting ever since the economy showed small signs of recovery last year. Just a few years ago, the economy was in a bad shape, and a poor financial condition prevented many couples from filing for divorce. Divorce can be a financially risky proposition, and there can be major differences to your overall financial health after a divorce. For example, assets are divided during the normal process of a divorce, and many people may not be in the frame of mind to make risky financial choices in a bad economy. Many people do not feel comfortable about making major financial changes to their lifestyle when there are fewer employment opportunities, and businesses are struggling.

However, it is a markedly different picture when the economy begins to improve. In such cases, many of those financial question that prevented couples from moving towards a divorce earlier do not seem so important anymore. In 2012, the number of Americans getting a divorce increased to 2.4 million after several years of increases.

Economists also believe that more divorces are a good sign for the economy, and boost economic growth. That's because when households split, new households are created, and that means a boom in house construction. Apartment rentals also go up, when fathers move out of the home, and rent apartments close to their former home to stay close to their children.