A national survey of unbanked and underbanked households found that 7.7 percent of households in the US were unbanked in 2013 — nearly 9.6 million households. Twenty percent of households were underbanked. The unbanked rate peaked in 2011, when the percentage of households without a bank account hit 8.2 percent. Compared to 2011, households in 2013 had slightly higher levels of employment and income and were slightly older and better educated. Employment was the single largest determinant of banking status; among households that recently became unbanked, 34.1 percent had experienced either a significant income loss or a job loss. Among households that recently became banked, 19.4 percent reported that a new job motivated them to open an account.