Men Still Stuck With Recession

By Suparna Chakaraborthy

Wednesday, July 7, 2010, 14:15

The global recession, the nightmare which went on for a long time crushing the economy worldwide, reportedly has effected men more than women. This has been declared by a recent statistic.

Figures have confessed that women will have an easier time recovering from the recession than men. "Men are the victims of two thirds of the 11 million jobs lost since the recession began in 2007," reports a leading magazine.

Before recession the industries had more men workers and the salaries were also higher than women. But during recession, as compared to women, men lost more jobs and once who retained thier jobs suffered cost – cuts.

Even in the recovery stage most men have still not got their job and previous salary back.

“When the economy recovers, five years from now, one in six men who are 25 to 54 will not be working," said Larry Summers, Obama's chief economic adviser.

In the US, women are already the "breadwinners or co-breadwinners" in two thirds of their households, and were hired for 75 percent of the 8 million new jobs, revealed the reports.

As women worldwide begin to see new opportunities for growth, prospects for men are not so bright. Employment has fallen by 2.7% for men as compared to 0.8% for women. One of the main factors which have saved women from the effect of recession is that most of them worked in the Public sector. Men on the other hand dominated the private sector.

According to Economists, by 2024, women will make more money than men and out of 15 sectors where jobs will be created, 13 will be ruled by women.