162nd Carnival of Personal Finance
Disaster prep time & extended tax time

Unwelcome economic equity

Interesting story in today's New York Times on how women have finally reached a bit of parity with men in the workplace. Unfortunately, it's not exactly what we wanted.

Women_jobs_vintage_2 The story's headline says it all: Women Are Now Equal as Victims of Poor Economy.

Citing Bureau of Labor Statistics data, the article reports that "for the first time since the women's movement came to life, an economic recovery has come and gone, and the percentage of women at work has fallen, not risen."

The reasons for the workforce reductions apparently are the same regardless of gender: downturns, layoffs, outsourcing, stagnant wages or the discouraging prospect of an outright pay cut. Those options, says the Times, mean women "are responding as men have, by dropping out or disappearing for a while."

Kind of adds a whole new twist to the old saying be careful what you wish for.

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Economic Credit Cards

My thanks goes to New York Times for this awesome article. A very informative and the author seems to have observed and learnt a lot :)

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