From the course: Economics for Everyone: Job Markets and the Economy

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Jobs data and gender differences

Jobs data and gender differences

From the course: Economics for Everyone: Job Markets and the Economy

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Jobs data and gender differences

- The labor market is different for men and women. There are significant differences in compensation, as well as how recessions impact people by gender. One of the most important changes in labor market dynamics of the past 50 years was when women entered the labor force in the 1960s, 70s, and 80s in large numbers. This had a huge impact in overall US economic output and society as a whole. But one of the greatest gender differences of the workforce is that despite a massively increased representation in the labor force, women still were compensated less than men in most industries and women were compensated more than men in only a handful. One of the biggest differences in the labor market is how recessions can impact men and women differently. We saw this in the recessions of 2007 to 2009, as well as the recession of 2020. In 2007 to 2009, the unemployment rate for men shut up much faster than for women. This was because…

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