Marketing to Moms: Moms Working Way out of Recession
December 11, 2009 § Leave a comment
On the surface, women tended to fare better during the Great Recession than men did.
Fourth quarter data from the Bureau of Labor Statistics showed that over the past two years, the wages of women rose 3.2 percent when adjusted for inflation. Men’s wages rose 2 percent. More telling, perhaps, is the unemployment rate. The jobless rate for men is 11 percent, and 8.4 percent for women. Many of the lost jobs in this recession have been men’s jobs, in construction and manufacturing.
Why is this important? According to the Shriver Report, published in October 2009, 50 percent of all workers are women. And mothers are the primary or co-breadwinners in nearly two-thirds of all American households. Half of all families rely on the earnings of two parents, and in more than 20 percent of families, a single mother is the breadwinner.
Interesting fact: Most workers under 40 have never known a workplace without women bosses and colleagues.
However, women still make less than men. In 2007, women were paid 77 cents for every dollar a man made. Many jobs are dominated by either men or women.
While these changes have been occurring, business and government have not kept up with these societal changes.
While Moms are paying less today for food, cars, clothing and appliances than they did a generation ago, the new normal has seen increases in home, health, education and child care. So while Moms have fared better with jobs, they are as stressed and stretched as they have ever been.
Because of the enormous spending power of Moms, the recovery will continue to be slower than desired as Moms work their way out of this Great Recession.
By the way, if you are interested in how the Great Recession got its name, here’s a great piece from the New York Times: http://tinyurl.com/cecqqo
For more information on the Shriver report: http://www.americanprogress.org/issues/2009/10/womans_nation.html
Tagged: Bureau of Labor Statistics, effects of societal changes, Jamie Dunham, marketing to moms, moms buying power, Shriver Report, spending habits during recession, the Great Recession, women in the workplace