Womens Studies 1 Affects of the Current U.S. Economic Downturn - Essay Example

In the current downturn, this is no different. In fact, the New York Times reports that this is the first time “an economic recovery has come and gone, and the percentage of women at work has fallen, not risen.” The Times article attributes this drop to the “same troubles” that men are experiencing: “downturns, layoffs, outsourcing, stagnant wages or the discouraging prospect of an outright pay cut.” (Uchitelle, 2008) Interestingly, not all unemployed women are out of work because jobs are not available.

In many cases, women are not applying for jobs because the wages are “less than half” of what they used to be paid. The wage issue is one of those which is affecting men as equally as women. (Uchitelle, 2008) Unemployment is certainly a problem regardless of gender or demographic background. The National Womens Law Center (2008) says that the unemployment rate increase from 2007 to early 2008 was “similar for both sexes.” (p. 1) In other areas, however, the gender divide is not as equal.

This is especially true in regards to sub-prime mortgages. Women, NWLC reports, “are 30% to 40% more likely than men to have a sub-prime mortgage loan.” (p.1) Those living “in poor communities and neighborhoods with African-American or Latino residents” are more likely to foreclose on a loan or be evicted. (Schell, 2008) The NWLC report agrees with this, stating that those who are most in need of assistance are “low-income women and their families” (p.1) This disparity between men and women who hold sub-prime mortgages can be attributed to a number of factors.

Not the least of these factors is the fact that “Single women have been among the fastest-growing groups of homeowners in recent years.” (Leland, 2008) Sub-prime loans, of course, are targeted at low-income borrowers, so it is perhaps not surprising that single women hold a disproportionate amount of them. NWLC mentions that women are