The Impact of the Recession on Women in the United States Presented by Lynn Gardner Heffron September 29, 2011

Quality of Life Factors Happiness Differences in power and freedom Local economic opportunities Other sources of economic support Who makes economic decisions Control of assets, savings Family formations – birthrates – children Divorce – family disputes Household relations – domestic violence Value of education Hopes for the future

National US Poverty Rate Climbed to 15.1% - the greatest percentage since 1993 Number of Americans living in poverty – 46.2 million (highest number since the Census Bureau began measuring poverty) Middle class is falling – 1 in 3 Americans who grew up in middle class earn lass as adults One million more children fell into poverty – total now 15.7 million or 22% of all children in America age 6 or younger – 1 in 4 lives in poverty

Poverty Rates for Women 2010 Poverty rate for WOMEN – 14,5% (13,9% in 2009) Highest rate in 17 years EXTREME poverty rate – 6.3% - (5.9% in 2009) Highest ever recorded. Extreme poverty – 7.5 million women Total of all living in poverty: 17 million women plus 12.6 million men Worse for older women Twice as many women over 65 than men living in poverty SINGLE MOTHERS WORSE OFF 40+% of women who head families now live in poverty

Recession’s Impact – Unemployment Rates Women - 7.7% to 8.0 % Men’s 9.9% to 8.9 % African-American women % to 13.4% African-American men %to 18.0% Single mothers % to 11.9% Hispanic men – 10.7 to 8.9 Hispanic women – 11.5 to 11.4

Why Women Leave Jobs Family reasons No opportunity for advancement in male- dominated fields High expectations for travel and little personal time Not respectful of work/home boundary – expected to take work home & work late Lack of job satisfaction Lack of reliable female role models Inflexible work schedules Workplace discrimination White men syndrome Glass ceiling issues

Women in Business

NOT Building on Masculine Norms of the 50 fastest growing women-led companies 100% provide health insurance 88% provide 401ks 80% provide life insurance 66% offer telecommuting VERSUS, Nationwide 62% of private companies offer health insurance 47% offer retirement benefits 59% access to life insurance 5% have access to flexible workplace policies

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