by Efin Advisor | October 4, 2010
The results of a growing trend in education and workforce demand are being felt in homes across America. In most areas of the country, unmarried women between the ages of 22 and 30 without kids are making 8 percent more than men are in the same demographic. Data gathered by the U.S. Census Bureau indicates that at this point in time, young women are 1.5 times more likely to earn college degrees than their male counterparts.
Make no mistake, The survey does not conclude that a woman in the same job makes more than a man. Overall, women make 80 percent of what men make. But the results do show that the recent recession, combined with a surge in education, means women are increasingly becoming the breadwinners in younger families.
For nearly two decades, women have outnumbered men going to college. This is particularly pronounced among minority groups and at historically black colleges, where women outnumber men 2 to 1. Another factor is that male-dominated industries like manufacturing were hit harder by the recession. There are more women in managerial jobs now than men.
Are You Insured?
The danger is that when it comes to protecting both breadwinner’s incomes, many families only have the right amount of life insurance for one of the spouses and that is typically the man.
That needs to change and change fast since, according to experts, when the economy rebounds, this new generation of women will be better poised to make more money.
A preview of the post-recession economy suggests that women are well-poised to be earning the higher incomes in certain fields and jobs, and will play a decisive, new role in reshaping the markets.
In today’s economy, two incomes are better than one. Make sure both earners in your family are protected with a fast, free affordable life insurance quote from Efinancial.
This week, BankRate.com published its analysis of the Top 10 Costliest Life Insurance Health Conditions that will affect the premiun of a life insurance policy, and, in some cases, may determine whether the applicant can obtain life insurance in the first place.
