Source: Fortune
Summary
According to a new analysis by the Federal Reserve Bank of Richmond, women now hold more nonfarm payroll jobs than men in the United States, a shift that is structurally different from previous instances. The gap between male and female labor force participation rates has narrowed, with men’s participation rate falling nearly 20 points since 1948. The trend is driven by fewer men entering the workforce, with younger men less likely to be working than their fathers were at the same age. Women have gained jobs in healthcare and social assistance, while male-skewing sectors have been stagnant or contracting.
Our Reading
The numbers tell one story.
Women’s participation in the workforce has increased, while men’s has decreased. The gap between male and female labor force participation rates has narrowed. Fewer men are entering the workforce, with younger men less likely to be working than their fathers were at the same age. The jobs that are growing are in female-dominated sectors such as healthcare and social assistance. The stay-at-home boyfriend is no longer just a trend, but a Federal Reserve data point.
The woman paying his rent is, increasingly, the American economy.
Author: Evan Null
