Ed Butowsky, Managing Partner of Chapwood Investments Management, joins Fox News to discuss how and why men are faring better than women when it comes to new jobs.
As the economy begins to show signs of recovery, we are seeing men gaining jobs at a faster pace than women. According to the Bureau of Labor Statistics, women gained back only 1 in 10 jobs in 2010. So why are men doing better and what can be done if you’re a woman looking for work?
A new term has been tossed around to describe the impact on men who lost their jobs during the liquidity crisis and recession – Mancession. Furthermore, this term came about because 2 out of 3 jobs that were lost during the recession were men versus women. This was very evident in the fields of manufacturing and construction, but now as the economy seems to be rebounding a little, men are fairing better than women.
Ed explains that while there still over 15 million men and women unemployed, these new jobs only account for a small percent of the overall unemployed – about 100k jobs. Most of these new jobs are going into the construction and manufacturing industry, which explains why men may appear to doing better than women for the short term.
However, if we look at government agencies, women make up over 50% of the employed. Ed points to the growing financial and unemployment crisis within municipalities, and he expects this crisis to continue. This could be more of an issue within the state and municipal areas, which could be more harmful to women.
Overall, this statistic is very small number. With over 15 million unemployed and such a small percentage of new jobs, 1 in 10 women or 9 of 10 men, it’s too early to make this broad stroke conclusion about jobs for men versus women. Ed does not believe this trend will continue.
Statistics show that women are more likely to be hired then men; however, Ed believes that gender has no role in the hiring process. Furthermore, Ed explains that the best candidate that represents themselves not only on their resume but in the interview process will be the best candidate. Ultimately, it is the candidate that stands out from the crowd that typically is the one to be selected for the job.
Recession & The Sexes
- Jobless rate for men is 10.1%
- Jobless rate for women is 8.7%
- 8.2 Mil men are in the job market
- 6.2 Mil women are looking for work
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: careers, economy, fox news, government, jobs, mancession, recession, trades, unemployment, women at work