2023 Kings County, California Demographics | Data & Analysis

Ready-to-use reports, analytics, and visualizations covering Kings County, California, including population, race, income, and more. Based on 2023 American Community Survey Estimates.

Kings County, California Key Demographic Statistics (2023 Estimates)

Key demographic statistics summarized from the U.S. Census Bureau's 2023 American Community Survey (ACS).

Total Population
152,830
Median Age
32.3 years
Median Household Income
$68,750
Bachelor's Degree+
13.92%
Uninsured Rate
7.9%
Total Households
43,736
Total Workers
53,156
Citizenship Rate
87.9%
Total Veterans
7,300
Top Veteran Era
Post-9/11 Only
Poverty Rate
13.7%
Families in Poverty
4,565
SNAP Recipients
18.59%
Households w/ SNAP
8,129

Source: U.S. Census Bureau, 2023 American Community Survey (ACS) Estimates

Kings County, California 2023 Demographics: Age & Gender Distribution

Bar chart showing the population distribution of Kings County, California by age group and gender, based on 2023 ACS data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the total population of Kings County, California is 152,830. The median age of the population in Kings County, California is 32.3 years. The median age for males is 32.8 years, and for females it is 31.3 years.

The age distribution of the population in Kings County, California by age group is as follows:

Population Percentage by Age Group in Kings County, California, 2023
Age Group Percentage
Under 5 years 7.24%
5–17 years (children) 19.83%
18–24 years (young adults) 10.41%
25–34 years 16.66%
35–54 years 25.81%
55–64 years 9.43%
65 years and over (seniors) 10.61%

Understanding the Demographic Dependency Ratio in Kings County, California

The total dependency ratio in Kings County, California is 60.48. The youth dependency ratio is 43.44, and the old-age dependency ratio is 17.03. In demographic terms, the dependency ratio measures the size of the population typically not in the labor force (children under 18 and older adults 65+) relative to the working age (18-64) population. A higher ratio indicates a greater financial and social burden on the working population to support the non-working age groups.

For more detailed reports, explore the demographics for each of the most populated ZIP Codes in Kings County, California, including Tulare (93274) (79,154), Hanford (93230) (69,130), and Lemoore (93245) (37,443).


What is the Racial and Ethnic Breakdown of Kings County, California?

Race and Ethnicity Distribution Chart for Kings County, California
Source: U.S. Census Bureau, 2023 ACS Estimates

The racial makeup and ethnic composition (racial demographics) of Kings County, California is detailed below, based on the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates.

The Diversity Index for Kings County, California is calculated at 58.08, suggesting a moderate level of racial and ethnic diversity. This index measures the probability that two people chosen at random will be from different racial or ethnic groups.

The following table provides the breakdown of the population of Kings County, California by race and ethnicity:

Population Percentage by Racial and Ethnic Group in Kings County, California, 2023
Racial/Ethnic Group Percentage
Hispanic or Latino (Any Race) 57.49%
White Alone (Non-Hispanic) 28.78%
Black/African American Alone 5.98%
Asian Alone 3.49%
Two or More Races 3.16%
American Indian and Alaska Native Alone 0.72%
Native Hawaiian or Other Pacific Islander Alone 0.19%
Some Other Race Alone 0.17%

Kings County, California 2023 Demographics: Household Income Distribution

Horizontal bar chart showing household income distribution in Kings County, California.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the median household income in Kings County, California over the past 12 months, adjusted for 2023 inflation, was $68,750. This figure is based on a total of 43,736 households.

The distribution of household income in Kings County, California across various income brackets is as follows:

Household Income Distribution in Kings County, California, 2023
Income Range Percentage of Households
Less than $20,000 12.03%
$20,000 to $34,999 10.72%
$35,000 to $49,999 13.49%
$50,000 to $74,999 18.36%
$75,000 to $149,999 31.50%
$150,000 or more 13.91%

For detailed household income distribution reports on the ZIP Codes with the highest median household income in Kings County, California, explore the data for: Kingsburg (93631) ($81,226), Lemoore (93245) ($78,181), and Hanford (93230) ($73,558).


Kings County, California 2023 Demographics: Property Value Distribution

Line chart showing the distribution of property values for owner-occupied housing units in Kings County, California.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the distribution of property values for owner-occupied housing units in Kings County, California is based on a total of 23,976 properties.

The property value distribution in Kings County, California across various value brackets is as follows:

Property Value Distribution in Kings County, California, 2023
Property Value Range Percentage of Properties
Less than $25,000 2.90%
$25,000 to $49,999 2.40%
$50,000 to $99,999 2.05%
$100,000 to $199,999 11.20%
$200,000 to $499,999 70.80%
$500,000 to $999,999 9.83%
$1,000,000 or more 0.82%

Educational Attainment in Kings County, California (2023 Data)

Treemap chart illustrating the educational attainment breakdown for population 25 years and over in Kings County, California.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the educational attainment data covers the population 25 years and older in Kings County, California, totaling 95,545 individuals.

74.24% of Kings County, California population has a high school diploma or higher. Furthermore, the percentage of individuals who hold a Bachelor's Degree or a higher professional/graduate degree is 13.92%.

The detailed breakdown by educational level is presented below:

Educational Attainment Distribution in Kings County, California, 2023
Educational Attainment Level Percentage of Population 25+
Less than high school graduate 25.76%
High school graduate (incl. equivalency) 28.09%
Some college or associate's degree 32.23%
Bachelor's Degree 9.41%
Graduate or professional degree 4.51%

What is the Health Insurance Coverage Rate in Kings County, California?

Pyramid chart showing health insurance coverage by age and sex in Kings County, California.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the health insurance coverage data for Kings County, California shows that 7.9% of the population lacks health insurance coverage. This represents 10,715 individuals out of a total population of 135,709 people.

The uninsured rates vary significantly by age group. Young adults (18-34 years) have uninsured rates of 17.1% for males and 10.2% for females. In the 35-64 age bracket, 9.6% of males and 9.7% of females are uninsured.

Children under 18 and seniors aged 65+ generally have higher coverage rates due to public programs like Medicaid/CHIP and Medicare. In Kings County, California, uninsured rates for children are 3.6% for males and 4.8% for females, while seniors have rates of 0.8% for males and 1.7% for females.

Uninsured Rates by Age Group and Sex in Kings County, California, 2023
Age Group Male Uninsured % Female Uninsured %
Under 18 3.6% 4.8%
18-34 years 17.1% 10.2%
35-64 years 9.6% 9.7%
65+ years 0.8% 1.7%

Kings County, California 2023 Population by Nativity and Citizenship Status

Treemap showing the population distribution by nativity and citizenship status in Kings County, California based on U.S. Census data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the nativity and citizenship data for Kings County, California shows that 87.9% of the population are U.S. citizens. This includes both native-born and naturalized citizens, representing 134,316 individuals out of a total population of 152,830 people.

The nativity breakdown reveals diverse origins: 79.0% were born in the United States, 0.4% were born in Puerto Rico or U.S. Island Areas, and 1.1% were born abroad of American parent(s).

Among the foreign-born population, 7.4% of the total population have become naturalized U.S. citizens (11,337 individuals), while 12.1% are non-citizens (18,514 individuals).

Nativity and Citizenship Distribution in Kings County, California, 2023
Nativity/Citizenship Status Percentage
Born in the United States 79.0%
Born in Puerto Rico or U.S. Island Areas 0.4%
Born abroad of American parent(s) 1.1%
U.S. citizen by naturalization 7.4%
Not a U.S. citizen 12.1%
Total U.S. Citizens 87.9%

Kings County, California 2023 Demographics: Means of Transportation to Work

Treemap showing means of transportation to work distribution in Kings County, California.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the commuting patterns for Kings County, California show that 91.0% of workers commute by car, truck, or van. This represents 52,254 workers out of a total workforce of 57,406 people.

Public transportation usage stands at 0.5% (270 workers), which includes buses, subways, light rail, commuter trains, and ferries, but excludes taxicabs. Active transportation methods include walking (1.9%) and bicycling (0.4%).

4.8% of workers in Kings County, California report working from home. An additional 1.5% use other means such as taxicabs, motorcycles, or other forms of transportation. These alternative commuting patterns reflect changing work arrangements and transportation preferences in the modern workforce.

Commuting Methods Distribution in Kings County, California, 2023
Transportation Method Percentage Number of Workers
Car, truck, or van 91.0% 52,254
Public transportation 0.5% 270
Bicycle 0.4% 214
Walked 1.9% 1,070
Taxicab, motorcycle, or other means 1.5% 850
Worked from home 4.8% 2,748
Total Workers - 57,406

Kings County, California 2023 Demographics: Employment by Class of Worker

Horizontal bar chart showing employment distribution by class of worker and gender in Kings County, California, based on 2023 ACS data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, the civilian employed population aged 16 and over in Kings County, California totals 53,156 workers. Of these, 30,653 (57.7%) are male and 22,503 (42.3%) are female.

The employment distribution by class of worker in Kings County, California is as follows:

Employment Distribution by Class of Worker and Sex in Kings County, California, 2023
Employment Class Male Workers Female Workers
Private For-Profit 22,418 (42.2%) 12,644 (23.8%)
Private Non-Profit 1,406 (2.6%) 2,316 (4.4%)
Government (All Levels) 5,093 (9.6%) 6,581 (12.4%)
  • Local Government 2,061 3,657
  • State Government 1,863 2,282
  • Federal Government 1,169 642
Self-Employed 1,677 (3.2%) 887 (1.7%)

Class of worker categorizes employed civilians by their employment arrangement. Private sector workers are employed by for-profit or non-profit companies. Government workers include those employed at local, state, or federal levels. Self-employed workers operate their own unincorporated businesses. Understanding the class of worker distribution provides insights into the economic structure and employment diversity of Kings County, California.


Kings County, California 2023 Demographics: Veterans by Period of Service

Horizontal bar chart showing veteran distribution by period of military service in Kings County, California, based on 2023 ACS data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, there are 7,300 civilian veterans aged 18 and over in Kings County, California.

The largest group of veterans served during Post-9/11 Only, accounting for 2,147 veterans (29.4% of all veterans). The second-largest group served during Vietnam Era Only, with 1,541 veterans (21.1%).

The complete distribution of veterans by period of military service in Kings County, California is as follows:

Veteran Distribution by Period of Military Service in Kings County, California, 2023
Period of Service Number of Veterans Percentage
Post-9/11 Only (September 2001 or later) 2,147 29.4%
Vietnam Era Only (August 1964 to April 1975) 1,541 21.1%
Post-9/11 and Gulf War (August 1990 to August 2001) 1,178 16.1%
Gulf War Only (August 1990 to August 2001) 1,050 14.4%
Between Gulf War and Vietnam Era 829 11.4%
Between Vietnam Era and Korean War 212 2.9%
Gulf War and Vietnam Era 177 2.4%
Korean War Only (July 1950 to January 1955) 71 1.0%
Vietnam Era and Korean War 66 0.9%
World War II Only (December 1941 to December 1946) 20 0.3%
Post-9/11, Gulf War, and Vietnam Era 9 0.1%
Total Veterans 7,300 100.0%

Period of military service categorizes veterans based on when they served on active duty in the U.S. Armed Forces. Veterans may have served during multiple periods, including World War II (December 1941–December 1946), the Korean War (July 1950–January 1955), the Vietnam Era (August 1964–April 1975), the Gulf War (August 1990–August 2001), and Post-9/11 (September 2001 or later). Understanding veteran demographics helps communities provide appropriate services, benefits, and support to those who have served.


Kings County, California 2023 Demographics: Families by Income-to-Poverty Ratio

Horizontal bar chart showing family distribution by income-to-poverty ratio in Kings County, California, based on 2023 ACS data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, there are 33,440 families in Kings County, California.

Of these families, 4,565 (13.7%) live below the poverty line (income less than 100% of the federal poverty level). An additional 13,794 families (41.2%) are at or near poverty (100-199% of poverty). Meanwhile, 15,081 families (45.1%) have incomes at least twice the poverty level.

The complete distribution of families by income-to-poverty ratio in Kings County, California is as follows:

Family Distribution by Income-to-Poverty Ratio in Kings County, California, 2023
Income-to-Poverty Ratio Number of Families Percentage
Below 50% of Poverty 2,037 6.1%
50-74% of Poverty 899 2.7%
75-99% of Poverty 1,629 4.9%
100-124% of Poverty 1,582 4.7%
125-149% of Poverty 1,893 5.7%
150-174% of Poverty 1,809 5.4%
175-184% of Poverty 758 2.3%
185-199% of Poverty 1,048 3.1%
200-299% of Poverty 6,704 20.0%
300-399% of Poverty 4,436 13.3%
400-499% of Poverty 3,168 9.5%
500%+ of Poverty 7,477 22.4%
Total Families 33,440 100.0%

Income-to-poverty ratio measures how a family's income compares to the federal poverty threshold, which varies by family size and composition. A ratio below 1.00 (100%) indicates the family lives in poverty. Ratios between 1.00 and 1.99 represent families with low incomes who may still struggle financially despite being technically above the poverty line. Families with ratios of 2.00 (200%) or higher generally have more economic security. Understanding poverty distribution helps communities allocate resources and develop programs to support families in need.


Kings County, California 2023 Demographics: SNAP/Food Stamps Recipients

Stacked bar chart showing SNAP/Food Stamps recipient household composition by presence of children under 18 in Kings County, California, based on 2023 ACS data.
Source: U.S. Census Bureau, 2023 ACS Estimates

According to the U.S. Census Bureau's 2023 American Community Survey (ACS) Estimates, there are 43,736 total households in Kings County, California. Of these, 8,129 households (18.59%) received SNAP/Food Stamps benefits in the past 12 months.

Among SNAP-recipient households, 4,998 (61.48%) have children under 18 years, while 3,131 (38.52%) do not have children under 18 years.

Household Composition of SNAP Recipients

SNAP Recipient Household Composition in Kings County, California, 2023
Household Type With Children Under 18 No Children Under 18
Married-Couple Family 1,987 (24.44%) 682 (8.39%)
Male Householder, No Spouse 708 (8.71%) 457 (5.62%)
Female Householder, No Spouse 2,280 (28.05%) 668 (8.22%)
Nonfamily Households 23 (0.28%) 1,324 (16.29%)

The Supplemental Nutrition Assistance Program (SNAP), formerly known as Food Stamps, provides nutrition assistance to low-income individuals and families. The program aims to help eligible households purchase nutritious food. SNAP participation rates and household composition patterns provide important insights into economic hardship and food security challenges in Kings County, California. Households with children under 18 often face greater nutritional needs, while households without children may include seniors, disabled individuals, or working adults facing economic challenges.


Frequently Asked Questions (FAQs)

The age breakdown for the population of Kings County, California is detailed below, showing the percentage of the total population for each group:

Age Group Percentage
Under 5 years7.24%
5–17 years (children)19.83%
18–24 years (young adults)10.41%
25–34 years16.66%
35–54 years25.81%
55–64 years9.43%
65 years and over (seniors)10.61%

The racial and ethnic composition of Kings County, California is dominated by: Hispanic or Latino (Any Race): 57.49%, White Alone (Non-Hispanic): 28.78%, Black/African American Alone: 5.98%. The complete breakdown includes 8 distinct racial and ethnic categories.

The median household income in Kings County, California is $68,750. This represents the midpoint of all household incomes in the area, meaning half of households earn more than this amount and half earn less.

The household income distribution in Kings County, California is: Very Low Income (under $20,000): 12.03%, Low Income ($20,000-$34,999): 10.72%, Lower Middle Income ($35,000-$49,999): 13.49%, Middle Income ($50,000-$74,999): 18.36%, Upper Middle Income ($75,000-$149,999): 31.50%, High Income ($150,000+): 13.91%.

Approximately 31.37% of households in Kings County, California earn over $100,000 annually. This includes households earning between $100,000 and $124,999, $125,000 and $149,999, $150,000 and $199,999, and $200,000 or more.

The property value distribution for owner-occupied housing units in Kings County, California is: Less than $25,000: 2.90%, $25,000-$49,999: 2.40%, $50,000-$99,999: 2.05%, $100,000-$199,999: 11.20%, $200,000-$499,999: 70.80%, $500,000-$999,999: 9.83%, $1,000,000 or more: 0.82%.

There are 23,976 owner-occupied housing units in Kings County, California. This represents homes that are owned by the people living in them, as opposed to rental properties or vacant units.

Approximately 10.65% of owner-occupied housing units in Kings County, California are valued over $500,000. This includes properties valued between $500,000 and $749,999, $750,000 and $999,999, $1,000,000 and $1,499,999, $1,500,000 and $1,999,999, and $2,000,000 or more.

In Kings County, California, 13.92% of the population aged 25 and older holds a bachelor's degree or higher. This includes those with bachelor's degrees as well as those with graduate or professional degrees.

The educational attainment breakdown for Kings County, California (population 25+) is: Less than high school graduate: 25.76%, High school graduate (including equivalency): 28.09%, Some college or associate's degree: 32.23%, Bachelor's degree: 9.41%, Graduate or professional degree: 4.51%.

In Kings County, California, 74.24% of the population aged 25 and older has completed at least a high school education. This includes high school graduates, those with some college, associate's degrees, bachelor's degrees, and graduate degrees.

In Kings County, California, 7.9% of the population lacks health insurance coverage. This represents 10,715 individuals out of a total population of 135,709 people.

The uninsured rates vary by age group in Kings County, California. For young adults (18-34 years), 17.1% of males and 10.2% of females lack coverage. In the 35-64 age group, 9.6% of males and 9.7% of females are uninsured. These working-age populations typically face different coverage challenges than children or seniors.

Children under 18 in Kings County, California have uninsured rates of 3.6% for males and 4.8% for females. Seniors aged 65 and older, who are typically covered by Medicare, have uninsured rates of 0.8% for males and 1.7% for females. These age groups generally have higher coverage rates due to public programs.

In Kings County, California, 87.9% of the population are U.S. citizens. This includes native-born citizens and naturalized citizens. Out of a total population of 152,830 people, 134,316 are U.S. citizens.

Kings County, California has 11,337 naturalized U.S. citizens, representing 7.4% of the total population. These are foreign-born individuals who have gone through the naturalization process to become U.S. citizens.

The nativity and citizenship breakdown for Kings County, California is: 79.0% were born in the United States, 0.4% were born in Puerto Rico or U.S. Island Areas, 1.1% were born abroad of American parent(s), 7.4% are foreign-born naturalized U.S. citizens, and 12.1% are foreign-born non-citizens.

In Kings County, California, 91.0% of workers commute by car, truck, or van, making it the most common means of transportation to work. Out of 57,406 total workers, 52,254 use personal vehicles for their commute.

270 workers in Kings County, California use public transportation (excluding taxicabs) to commute to work, representing 0.5% of all workers. This includes buses, subways, light rail, commuter trains, and ferries.

Alternative commute methods in Kings County, California include: 4.8% work from home, 1.9% walk to work, 0.4% bicycle, and 1.5% use other means such as taxicabs or motorcycles. These alternatives to driving alone help reduce traffic congestion and environmental impact.

"Class of worker" refers to the type of employer or work arrangement for employed civilians aged 16 and over in Kings County, California. It categorizes workers into private sector (for-profit and non-profit), government (local, state, and federal), self-employed, and unpaid family workers. This classification helps understand the employment structure and economic composition of the workforce.

According to the American Community Survey, Kings County, California has 53,156 employed civilians aged 16 and over. The private for-profit sector employs the largest share of workers, with 42.2% of male workers and 23.8% of female workers in this category.

In Kings County, California, there are 5,093 male government workers and 6,581 female government workers. Government employment includes local, state, and federal positions. This represents 9.6% of male workers and 12.4% of female workers.

Self-employment in Kings County, California includes 1,677 males (3.2%) and 887 females (1.7%). Self-employed workers operate their own businesses that are not legally incorporated.

In Kings County, California, 8,129 households (18.59% of all households) received SNAP/Food Stamps benefits in the past 12 months. Out of 43,736 total households, these families rely on this federal nutrition assistance program to help purchase food.

Of the SNAP-receiving households in Kings County, California, 4,998 (61.48%) have children under 18 years. These families face additional nutritional needs and food security challenges as they work to provide adequate nutrition for growing children.

SNAP recipients in Kings County, California include diverse household types. Among households with children, 2,280 (28.05%) are headed by a female householder with no spouse present, while 1,987 (24.44%) are married-couple families. The program also serves households without children, including seniors, disabled individuals, and working adults facing economic challenges.

The Supplemental Nutrition Assistance Program (SNAP), formerly known as Food Stamps, is a federal program that provides nutrition assistance to low-income individuals and families. Eligibility is based on household income, resources, and size. In Kings County, California, SNAP helps eligible households purchase nutritious food at authorized retailers. The program aims to alleviate hunger and improve nutrition and health outcomes for vulnerable populations.

According to the U.S. Census Bureau's American Community Survey, there are 7,300 civilian veterans aged 18 and over living in Kings County, California. These individuals have served on active duty in the U.S. Army, Air Force, Navy, Marine Corps, or Coast Guard. This number does not include those with only National Guard or Reserves training without active duty service.

The most common period of military service for veterans in Kings County, California is Post-9/11 Only, with 2,147 veterans (29.4% of all veterans) who served during this period. The second most common period is Vietnam Era Only, with 1,541 veterans (21.1%).

"Period of service" categorizes veterans based on when they served on active duty in the U.S. Armed Forces. Major periods include World War II (December 1941-December 1946), the Korean War (July 1950-January 1955), the Vietnam Era (August 1964-April 1975), the Gulf War (August 1990-August 2001), and Post-9/11 (September 2001 or later). Veterans may have served during multiple periods. Understanding the distribution of service periods helps communities in Kings County, California provide appropriate services and support to their veteran population.

Veterans who served during the Gulf War era (1990-2001) and Post-9/11 era (2001-present) represent approximately 73.8% of all veterans in Kings County, California. These more recent-era veterans, totaling around 5,390 individuals, often have different service experiences and support needs compared to veterans of earlier conflicts. They may benefit from targeted programs addressing issues such as transition to civilian life, employment assistance, and access to VA healthcare services.

In Kings County, California, 4,565 families (13.7% of all families) live below the federal poverty line. This means their household income is less than 100% of the poverty threshold established by the U.S. Census Bureau, which varies by family size and composition. Out of 33,440 total families, these households face significant economic challenges meeting basic needs.

"Income-to-poverty ratio" measures how a family's income compares to the federal poverty threshold. A ratio of 1.00 (100%) means the family's income equals the poverty line. Below 1.00 indicates poverty, while ratios above 1.00 show income levels relative to poverty. For example, a ratio of 2.00 (200%) means the family earns twice the poverty threshold. In Kings County, California, this data helps identify not just families in poverty, but also those who are economically vulnerable despite being above the official poverty line.

Beyond families living in poverty, Kings County, California has 13,794 families (41.2%) with incomes between 100% and 199% of the poverty level. These families are often called 'near poverty' or low-income households. Specifically, 5,284 families (15.8%) have incomes between 100% and 149% of poverty. While technically above the poverty line, these families often struggle with housing costs, healthcare, childcare, and other expenses, making them economically vulnerable.

In Kings County, California, 2,037 families (6.1%) live in extreme poverty, with incomes below 50% of the federal poverty threshold. These families face severe economic hardship and often require comprehensive assistance programs. On the other end of the spectrum, 15,081 families (45.1%) have incomes at least 200% above the poverty level, indicating greater financial stability and economic security.