advertisement
Looking for something on the site? Search for it here! Also see Clark's Greatest Hits

Apr 20, 2009 -- Male-dominated careers hit hardest by recession

CLARKONOMICS: Recently, Clark read about an economist who jokingly called the glum state of our economy a "hecession" instead of a recession.

That's because the job losses are mainly hitting men. The Financial Times of London reports men account for 80% of the jobs that were lost since the recession began in 2007. That's over 4 million jobs lost by men vs. only 1 million lost by women. The male unemployment rate is just under 9%, while it's around 7% for women.

The reasoning behind these numbers is simple. Some of the hardest-hit sectors of the economy -- construction and manufacturing -- have been male-dominated. Women, meanwhile, tend to dominate in the relatively unscathed sectors of education and healthcare. In fact, we are on the cusp of reaching a level where more women are employed than men across the country.

But here's the good news. When the economy does recover -- and that's a "when," not an "if" -- the men who took the brunt of the hit will go back to work. Because they tend to have higher salaries than women, there will be a very positive boomerang effect that should be greater than stats suggest.

But you've also got to recognize that many manufacturing jobs are not coming back. And in construction, we'll need a smaller industry in the future than what existed in the past.

So men might want to use this downtime for education and retraining in a new career.

Finally, unemployment varies so much by region. California and North Carolina are two of the hardest-hit states. If you're looking for where the jobs are, think about "flyover" country like North and South Dakota and other heartland states.

Unfortunately, Clark won't be able to answer any questions submitted via commenting. If you have a question, please try posting it to our message boards.

Avg. rating: N/A

What others are saying

  • Unemployment
    Your statistics of "80% men" of the unemployed needs to be stacked next to a relative statistic of how many men vrs women are normally employed. Are we going back to a time we wished for with one working head of houshold? hmmmm...
  • ReBankCredit
    Me too. Have a Visa card that had 33K credit line that got chopped to 17K. Never a balance while using 3-5K per month. Zero debt. Complained and they said tuff. Switched over to my unused Costco Amex and am getting 3% back on gas and restaurant, 2% on travel and 1% on all else. Maybe Visa didn't like me cause I always paid my bill in full and on time.
  • Institutionalized sexism
    must be the culprit for this burden faced by America's largest minority: males. Obviously we need a new government program to address this dire situation. And yes: I kid.
  • Unemployment
    Unemployment is highest in states with big givernment and high taxes (NY, Calif, Ct., Mich, etc.) and lowest in states with low taxes and good government (Texas, South Dakota, Florida). You'd think that the people in the high tax states would figure out what is causing their high unemployment and fix it, but they seem addicted to big government. Some populations just seem to be convinced that they can vote themselves a living instead of working for one. And there are never any shortage of politicians looking for votes by promising free stuff. But it is never free. There is no such thing as a free lunch nu matter how many times you are told it is so. There is also no free healthcare. It is always expensive to someone.
  • Bank Credit
    So I had $64K as for my credit limit until March, on my April statement it showed only $14K. I called and they said that $14K is still high limit, I do not have any balance on my card, in fact i have $2 credit as I send them $1 every month, I have not used my card in over 8-9 months. I asked her if it will effect my FICO and she said it will not as my credit was decreased but since I do not have any balance my credit should be good.

    I am not sure if I should trust her or not, I disputed and added a line with my explanation on my credit files just to be on the safe side.

    On the same note, if I dispute and have remove all my older past paid/closed accounts from my credit files, will it reflect negative on my credit or it won't do anything? It is too late since I already have them remove several of my old past paid/closed accounts and my credit file started to look good, I have few open accounts but they are in very good shape and I pay my bills on time, they only things I have is my my Mortgage and my 5 auto loans, 2 of them are under $900 (Yeahhhhh).

    Thanks
send to a friend  view as printer-friendly  RSS feeds
advertisement
advertisement
THIS WEEK'S POLL
advertisement