As men bear the brunt of the economic downturn, could the so-called “he-cession” hold a silver lining for the opposite sex?
Men make up 82 percent of all recessionary job losses in the United States, according to a recent New York Times article, mostly due to declines in traditionally male fields like construction, where the unemployment rate skyrocketed from to 21 percent in March, from 12 percent a year earlier.
The unemployment rate for adult men was 8.8 percent in March compared to 7 percent for adult women.
Male-dominated Wall Street lost 3,100 workers in March 2009 alone, depleting New York City’s most important employer to just 169,200 workers, the state’s Labor Department records show.
Women are picking up the slack, with many finding themselves as the sole breadwinners for their families — although the jobs held by women are often lower-paying with fewer benefits.