… boomer women have left the workforce

Up until recently, more baby boomer women than men had been in the workforce… the current employment participation rate for adult men is 77.8% and for women it’s only 58.5%… Why?… How does it affect the economy? There are 1 million fewer women between the ages of 45 and 60 in the workplace today  than there were in 2009. The impact on the economy is obvious because there are 1 million fewer people earning money to move around in the economy. Here are the major reasons our society is experiencing this phenomenon. More women these days are having children when they are older. Many of them began their career, married later than previous generations and started having families later. At the “prime” age for earning… 45 to 55, many of these women still have children in a home that need to be cared for.  Even if they had children at a young age there “young adult” children,, being the lowest percentage of working Americans in the workforce …are moving home and often, these mothers  feel compelled to be at home with their adult children. A woman with children  who plans on going back to work when the children are still young  are faced with a very high cost of childcare.  Often the cost of the childcare outweighs a salary. In fact the cost of childcare is the single largest expense for families in almost half of the US and is growing, outweighing the cost of food and housing. So, faced with the cost of childcare, it might be more economical for a woman to stay home rather than work outside the home and pay for child care. The elderly are living longer these days and when their health fails it is logical for their female daughters to stay home and care for them. The average age of unpaid, adult family caregivers, according to the Family Caregiver Alliance is 48 years old…In the sweet spot of a person’s prime professional earnings age range. And making matters worse,  when these women do come back into the workforce after a three or four year period of time, their skills are perceived to be more outdated than with men. This must be because of the perceived jobs and skills that are associated with women. The truth is that there are no more deterioration of skills with out of work women then there are with out of work men. Next week: … How these women can get back into the workplace.

3 thoughts on “… boomer women have left the workforce

  1. mitziqbarnes@gmail.com'Mitzi

    Hi Tony!
    I first learned about you and your work through your radio time on The Sonshine Morning Show. One of the first bits I heard helped me land my current job after 5 years as a SAHM. I took your advice on acting confident and courageous, and tricked myself into believing I was actually feeling that way. And it worked! Thank you.
    I am interested in reading the follow up to this post, but I cannot find it. Would you please guide me?
    Mitzi

    Reply
  2. Lhuggins2@hotmail.com'Lisa

    Blog post dated July 18, 2014, ends with ” next week how these (Boomer) Women can get back into the workplace…” Q. Where is the follow up post? Please advise. Thanks

    Reply

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