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Women Recover From the Recession Slower Than Men

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While men were the ones initially reeling from the recent recession, women are now the ones with more and more reason to worry.

According to an Institute for Women’s Research Policy report released Monday, even though unemployment levels have steadily decreased for men over the past year, very few women are able to return to work in 2011, resulting in a significantly higher percentage of female Americans who continue to have deep concerns about their financial futures. The Women’s Research Policy report surveyed 2,746 American adults 18 years and older from September to November 2010.

As the report put it, “"Women seem to have remained in the recession a year and a half after its end, and in the year since the survey was completed, women have failed to share the same gain afforded by the weak job recovery.”

According to The Huffington Post, the economic recession “has frequently been dubbed a "mancession" to refer to the fact that men were hit especially hard by the downfall. Men have lost 6.2 million jobs since 2007, and women have lost 2.6 million, according to the report. However, men have regained 27 percent of those jobs. Women have recovered just 9 percent of jobs lost, meaning that men are recovering nearly three times faster. As women's unemployment levels continue to flatline, 65 percent of women worry about saving money for the future, compared to just 45 percent of men, the report shows.”

Gender discrimination in the job market also continues to play a major role in the ability for women, especially single moms, to find work. Add to that the fact that incarceration rates are on the rise for men in the African-American and Latino communities, and you’ll find even more women of all races who remain married but are who are still feeling the painful pinch without the help of those second incomes.

“The report suggests the recession has slammed single mothers the hardest, with 16 percent reportedly "experiencing hunger" in the previous year and 35 percent using food stamps. Furthermore, only 43 percent of women believe they would have enough savings to cover two months of income if laid off, compared to 61 percent of men. Twenty-eight percent of women have not gone to the doctor in the past year because of the cost -- up 7 percent from 2007 -- and 16 percent have not taken a child to the doctor due to costs -- up 4 percent from 2007.”

For women, therefore, the official economic recovery remains a recessionary nightmare, with stagnant unemployment levels leading many of the fairer sex further and further into debt and economic despair.  While some experts suggest that women turn to self-employment to save themselves, others are looking for more lasting solutions. The reason is simple: bankruptcy provides a gender-neutral solution to those running in the red.

So, are you an unemployed (or underemployed) woman who’s looking for additional financial support, but aren’t sure where to look? It’s important to understand, that now, more than ever, knowing a qualified bankruptcy attorney with a handle on all aspects of the bankruptcy process can help you dispense with debt and bounce back from the current economic crisis.  The bankruptcy professionals at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to 1-888-234-4181, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.

 

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