Labor Force, Justin Ho, Heather discussed on Marketplace

Automatic TRANSCRIPT

But I think going back to Heather's piece and it is worth everybody reading. I mean, she talked to some folks there who are really eking by on really small amounts of money from the states in which they live and you look at that and think about them Building the bridge to the other side and and you just have to feel like There is a huge degree of impossibility there. If you're trying to get by on 87 bucks a week is somebody she profiled is and it gets incredibly difficult, if not impossible, So I'm an optimist at heart. But the things more pessimistic as each day wears on. Do you read that piece? David Gora MSNBC had along at the Washington Post. Thanks you too. Thanks. Thank you. Nice weekend on Wall Street today. Well was varying degrees of lousy. Actually, We'll have the details when we do the numbers. So to others point about women leaving the Labor Force. One of the reasons the unemployment rate fell in this morning's report was something called the Labor Force participation rate. Basically, how many people are out there? Looking for work right now, and there were fewer of them last month, so the rate fell and especially women, four times more women than men dropped out of the Labor force last month. That continues a trend we've seen since this pandemic started. And it's a reality that is going to have long term ramifications for this economy. Marketplaces Justin Ho is on that one. Women disproportionately hold the types of jobs that have been lost during the pandemic, says economics professor Betsy Stevenson at the University of Michigan. There's the caring jobs, the socializing jobs, the jobs where we need to interact with other people. Teachers, retail workers, nurses Women also there more responsibility than men at home, says Yana Rogers of the Center for Women and Work at Rutgers University. In terms of the gap in doing child care and housework that has grown even more. A quarter of women are considering reducing hours switching to a less demanding jobs or leaving the workforce altogether, according to a report this week from the consulting firm McKinsey and Company. Leaving. The labor force has long term implications for women, says Kate Bond at the Washington Center for Equitable Growth Reduces Future Income Increases produces retirement contributions It reduces with the ability to move up the career ladder, women dropping out of the workforce threatens to end decades of progress is women's Paya slowly started to rise, Bond says that's boosted economic growth. And when we lose that, as they are in this current recession, we can imagine that it's going to have really long term significant impact on the health of our economy. The economy will eventually bring back jobs in those industries that disproportionately employ women, says economist Sarah How's that? Wells Fargo? Do you look at the demographics of this country? We're only going to need more and more health care That's most female dominated industry that there is but women who rejoin the workforce when those jobs come back will still pay a price. I'm Justin Ho from our place. Okay, A smidge More labor market news here this of the visa variety. The Trump Administration doesn't want to let Mohr foreign workers into this economy temporarily, it says, and specifically workers.

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