Personal Finance and Investing

If men were the first to lose their jobs in the heart of the economic crisis in the United States, a study now shows a reverse trend, women-particularly mothers-today are suffering the collateral effects, while the American economy is back on the road to growth.

According to a report by the Joint Economic Committee of the American Congress, American men were the most affected at the beginning of the crisis as over-represented in most key sectors such as building and industry. Today, they are finding jobs, unlike women and especially single mothers. Between October 2009 and March 2010, women have lost 22,000 jobs while men have found 260,000 jobs, a finding by that Committee.

According to the chairwoman of this Committee, Democrat Carolyn Malloney, the conclusions of the survey shows that single women were particularly affected, with an unemployment rate that rose from 8 percent to 13.6 percent between the year 2007 to 2009.

A third of jobs

Overall, one third of jobs destroyed during the current recession were occupied by women, says Ms. Malloney. For example, it was discovered that during previous recessions, this percentage was lower: Women have been affected by 15 percent of job losses during the recession of 2001. While women are losing more jobs, their families are more dependent on women incomes, said Carolyn Malloney.

In 2009, 3.3 million women worked part time for economic reasons, the report said. Either because they had not found a full-time employment or their working hours had been reduced to part time. So lets all hope that this trend change soon and that the economy gets soon better in America for women as well as for men.

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