The Pew Research Center released a study on January 19, 2010 that reinforces the data on the advance of women economically. Men reading this blog might be tempted to click out about now thinking: “Here she goes again, harping on the power of women”. Wait, there’s an interesting twist for the guys in this report. Gains for women have greatly benefited men, especially married men! Here is a direct quote from the report:
“From an economic perspective, these trends have contributed to a gender role reversal in the gains from marriage. In the past, when relatively few wives worked, marriage enhanced the economic status of women more than that of men. In recent decades, however, the economic gains associated with marriage have been greater for men than for women”
Here is why. Married women now contribute a large portion of family income. In 1970 women contributed from 2%-6% of the family income depending on their education level. A tiny fraction. By 2007 women were contributing from 20% to 36% of the household income. Let’s put that into real dollars. For college educated men who make $100,000 your 1970 wife brought home a grand total of $6,000. Your wife of 2007 brought home $36,000. You got a big raise! Even more recent research (A Woman’s Nation – www.awomansnation.com) indicates that 41% of college educated women now earn more than their husbands. Those college-educated men of 2009 experienced a $100,000+ raise compared with their peers of 1970. So let’s celebrate the economic gains for women. For married men and families it has provided a huge dollar gain!
Fact of the Day:
Enjoy the Pew Research report Women, Men and the New Economics of Marriage link below (also listed in the column at right)
http://pewsocialtrends.org/pubs/750/new-economics-of-marriage-
Tip of the Day:
All those working women are busy and need quality financial services. A recent Pew Research Center study (The Harried Life of the Working Mother) reports that 66% mothers with school age children work. Those working mom’s are busy! Most of them work full time (74%), while only a small groups (26%) work part time. You can earn their undying loyalty, if you help them navigate the tough years of working and raising a family. You can develop a great long-term client now. Who knows, she might be making more than her husband!
