Economy threatening women’s jobs, families
A faltering U.S. economy combined with a continued gap in pay between the sexes is putting the squeeze on women, their families and their careers, according to a recently released report by the Joint Economic Committee of the U.S. Congress.
The report, titled “Women and Their Families Are Being Squeezed,” notes that households headed by women saw median incomes fall 5.4 percent to just shy of $25,000 between 2000 and 2007. In comparison, during the same period, gasoline prices rose 145 percent.
Further the committee, headed by Sen. Charles Schumer, D-N.Y., found that women are facing higher unemployment, having lost 298,000 jobs since December. Female unemployment rose to 5.2 percent this year from 4.1 percent in 2000, and there are now 3.8 million unemployed women â€” 1 million more than when President George W. Bush took office.
Among other findings, the committee found the subprime mortgage crisis is affecting female homeowners to a greater degree than males. Women were 32 percent more likely to receive high-cost subprime mortgages than their male counterparts, despite on average having higher credit scores, putting them at greater risk of losing their homes.
Read the report’s full findings by clicking here.