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David Schepp explores career issues and the lives of working people

Economy threatening women’s jobs, families

September
17

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 — 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.

This entry was posted on Wednesday, September 17th, 2008 at 12:00 pm by David Schepp. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Benefits, Careers, Employee morale, Employees, Employer, Employment, Equal pay, Equality, Job, Job seeking, Jobs, Labor, Wages, Women, Work

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From beheading halibut at a cannery in Homer, Alaska, to waiting on tables at tony resorts in Colorado, California and on Martha's Vineyard, David Schepp has had a lifetime's worth of jobs and experiences. Every workplace has it challenges and the choices people make in dealing with those difficulties can make or break a career. As a companion to Schepp's regular People@Work column, which explores workplace issues and the people they affect, this blog looks at trends among employers, employees and entrepreneurs and subjects related to our working lives here in the Lower Hudson Valley. Check out the latest topics he's exploring, and share your own experiences and insights.

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About the author
David ScheppDavid Schepp David Schepp has been reporting business news since 1995. Schepp joined The Journal News in 2003. He has worked for Knight-Ridder Financial News, Dow Jones Newswires and BBC News Online, where he specialized in economic reporting. A resident of Dutchess County, Schepp holds a bachelor's degree in journalism from Metropolitan State College of Denver. READ MORE
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