From Newsweek — Women Will Rule the World
Last Updated on Tuesday, 6 July 2010 04:08 Written by spence Tuesday, 6 July 2010 04:08

Rajni Bector, 67, a food specialist and one of the first female entrepreneurs in Ludhiana, Punjab India. Photo by Reuben Singh.
Men were the main victims of the recession. The recovery will be female.
When historians write about the great recession of 2007–08, they may very well have a new name for it: the Mancession. It’s a term already being bandied about in the popular media as business writers chronicle the sad tales of the main victims of the recession: men. They were disproportionately represented in the industries hit hardest during the downturn, including financial services, manufacturing, and construction, and their higher salaries often put them first in the line of fire. Men are the victims of two thirds of the 11 million jobs lost since the recession began in 2007; in August 2009, when U.S. male unemployment stood at 11 percent (versus 8.3 for women), it was the largest unemployment gender gap in the postwar era. Those numbers have improved, a bit—new unemployment figures show men at 9.9 percent and women at 7.8—but not enough to stop Larry Summers, the president’s top economic adviser, from speculating recently, that “when the economy recovers, five years from now, one in six men who are 25 to 54 will not be working.”
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