More Women Are Out-Earning Their Husband
Times are tough for families all throughout Colorado, but the Great Recession has accelerated the trend of women catching-up to their male counterparts in terms of take-home pay. Traditionally in our nation’s history, women have earned less than the men
in their lives, but that gap has been narrowing as women have achieved equity in higher education and work experience. During our country’s economic meltdown, more men than women lost their jobs, which narrowed the gap even more. According to NBC News:
The number of women earning more than their husbands had gradually been rising for years, but the pace appeared to quicken during the Great Recession of 2007-09. Nearly 38 percent of wives earned more than their husbands in 2009, according to the latest data from the Bureau of Labor Statistics, up about 3 percentage points from 2008.
Men’s earnings were impacted so much more by the Great Recession than women that some experts coined the term “Mancession.” But, now as the economy slowly recovers, it’s men who are benefitting more than women. Still, the trend of women narrowing the gender pay gap continues for the time being, and that’s news that all families can cheer!