Thursday, September 3, 2009

Women take over job market

Women are on the verge of outnumbering men in the workforce for the first time, a historic reversal caused by long-term changes in women's roles and massive job losses for men during this recession.
Women held 49.83% of the nation's 132 million jobs in June and they're gaining the vast majority of jobs in the few sectors of the economy that are growing, according to the most recent numbers available from the Bureau of Labor Statistics.

The gender transformation is especially remarkable in local government's 14.6 million-person workforce. Cities, schools, water authorities and other local jurisdictions have cut 86,000 men from payrolls during the recession — while adding 167,000 women, according to the Bureau of Labor Statistics.
"Unemployment among men isn't going to last forever," says University of Chicago economist Casey Mulligan. "People will move from construction and manufacturing to industries that are creating new jobs." Mulligan expects the portion of jobs held by women to peak slightly above 50% this year, then drop below half when the economy recovers and more men find work.