Women: Economic Ruin

Women! There are more on this planet than men. They live longer than men on average. They make up over half of the US population (50.8%) and they stand for 46.9% of the US labor force today. Three of the most powerful people in the world today are actually women. Janet Yellen, at the head of the Federal Reserve, has the world economy at her feet, waiting with baited breath to see what tapering will finally do. Christine Lagarde, at the head of the International Monetary Fund, sits in Washington D.C. surrounded by her 188 members with the belief that they can reconstruct the world (they have been trying since 1944 and Bretton Woods). Then, there’s Angela Merkel, the Chancellor of Germany, into her 9th year at the head of Europe’s largest economy, the 4th by nominal GDP in the world and the 5th by GDP (PPP), the 3rd largest exporter in the world.

Women, however, are far more likely to earn less, get into debt more and end up on the breadline or even below it these days. Women are at the heart of financial insecurity today in the USA.

Women and Poverty

Women and Poverty

The Center for American Progress just published a report on Sunday January 12th. The findings show that:

  • A third of the US lives in poverty today.
  • That’s a 100 million people in the US.
  • 50% of US citizens float in and out of poverty at varying times in their careers.
  • 33% of all women in the US are now living at less than 200% of the US official federal poverty line ($47, 000 for a family of 4).
  • Women account for two thirds of the minimum-wage earners in the US today.
  • Women already earn an average of $11, 500 per year less than male counterparts.
  • That means that women on average earn just 77¢ for every dollar that a man earns today.
  • Yet 40% of households have a woman as a primary earner in that household.

Women might outnumber men in colleges and there are more women that graduate today with degrees than men:

  • There are 1.35 females for every male that graduates with a 4-year degree today.
  • 1.3 females for every male is currently an undergraduate enrolled in education in the US.
  • In 1970/1971 the number of graduates that were women was only a mere 9.1%.

Greater access to a variety of jobs should have been what was expected to happen as a result of increases in the percentage of graduates. But, it didn’t. It certainly begs the question as to why there are so many female graduates and yet women are more financially vulnerable than men.

Perhaps when the US government realizes that women are an essential part of the economy simply because of their increased (and beyond male) graduation from advanced education, then and only then, will they be considered as a driving force in the economy ready to drive forward. The US might be the biggest and the best in the world (for now), but it’s living in the stone age where women are concerned.

More than 70% of US citizens today believe that women should play an increased role in the economy.

President Obama might recently have said that poverty was the “defining challenge of our time”, but what is being done to deal with the growing problem of poverty today in the US? It might be all well and good to sit there in the comfort of our own homes saying that people have to get out there and work instead of sponging off the state like sycophants that have gone crazy, weaned on self-seeking and parasitical leeching from birth, but the real people to blame are the state and the economy. No amount of force, coercion, obligation or pushing will get the people to stand on their own two feet when the ground has been cut away from underneath them; and that was long ago. The economy hasn’t created jobs because nothing has changed.

Women have always been paid less. Women have always been last in the line. But, why should anything change? Women have been at the end of the raw deal on employment and it certainly won’t get any better while the government is viewed as a source of distrust by the citizens, the economy is limping (backwards?), unemployment is stagnating and real unemployment just getting worse and wages have been in the deep freeze of the Ice Age for years now.

Why would anything change?

 

 

 

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tothetick

Professional team of writers/analysts analyzing the financial markets.

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