"5. Chart of the Day II (above).
Remember the “mancession,” the term that started being used back in 2008 to describe the disproportionately negative effects of the Great Recession on men compared to women?
Well, it hasn’t gotten much media attention lately, but the chart above shows that it’s still very much a reality.
Compared to November 2007, the month before the official start of the Great Recession, male employment is only 693,000 jobs (and less than 1%) above the pre-recession level while women have gained more than twice that number of jobs – there are 1,550,000 more women working today than in 2007.The lingering effects of the “mancession” is also reflected in the fact that the unemployment rate for women has been below the rate for men in 103 out of the last 106 months.
Perhaps this phenomena explains one reason for the unadjusted gender wage gap — women earn lower wages on average compared to men, but tend to work in industries like education and health care where employment is more stable, especially during economic downturns.
In contrast, men gravitate towards industries like construction and manufacturing that pay higher wages, but are much more vulnerable to job losses during a recession and have a slower rebound during a recovery."
No comments:
Post a Comment