GO
Loading...

Enter multiple symbols separated by commas

The Man-cession and the He-covery

During the height of the recent financial crisis, a new term entered the lexicon of pop economists and established number-crunchers alike --- “man-cession.” This term refers to the loss of jobs among men, which occurred at a higher rate than it did among their female counterparts.

office_fired_200.jpg
Andersen Ross | Stockbyte | Getty Images

The data bears out this disparity. “Over the course of the official recession, men lost twice as many jobs as women,” says Heather Boushey, Senior Economist at the Center for American Progress. She attributes this to the hammering that the male-dominated construction and manufacturing sectors took in the economic meltdown.

Fortunately, things finally seem to be turning around for the dudes. “Since the economic recovery began, as defined by the National Bureau of Economic Research to be June 2009, private-sector employers have hired 503,000 men,” Boushey said in March 2011. “Over the economic recovery so far, men have seen especially strong job gains in professional and business services, adding 425,000 jobs.”

Men have also been branching out into sectors that are considered by some to be less he-manly than construction and manufacturing. “Men were bleeding jobs in manufacturing and heavy industry,” says Adam Hanft, CEO of the marketing firm Hanft Projects. “The gush has been stabilized and some industries are hiring. Further, some men are actually shedding their testosterone boundaries and taking jobs in retail."

While things may be getting better for the male of the species, Hanft cautions men to watch out for long-term employment trends, which still do not favor them. “Women are increasingly better educated and in urban areas like New York City, women earn more than their male counterparts,” he says. “Further, the jobs of the future—that involve complex, multi-dimensional processing—are those that women are best equipped for, as research into brain biology is increasingly proving.”

Boushey cautions against reading too much into the economic data, however. “People want to make this into a battle of the sexes in the labor market, but the situation is sad for everybody,” she says. “The reality is that we lost a lot of jobs. It’s great that we’re seeing manufacturing coming back, but we’re not creating jobs fast enough, and unless manufacturing picks up, and the recovery takes hold, we’re not going to get families back to where they need to be.”

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Lottery ticket

    A thief who broke into the car of a Seattle couple left behind a million-dollar lottery ticket, NBC News reports.

  • The Lamborghini SpA Urus SUV.

    There's no shortage of luxury vehicle choices, but increasingly the wealthy are opting for high-end SUVs instead of traditional models.

  • Mike Trout #27 of the Los Angeles Angels takes a picture with fans before a game with Boston Red Sox at Fenway Park on May 23, 2015 in Boston, Massachusetts.

    MLB is using digital media initiatives like Snapchat and Web video to connect with younger viewers. Is it enough?

U.S. Video

  • Cramer: Here's the no. 1 play in cybersecurity

    Guarding Your Portfolio? "Mad Money" host Jim Cramer's got the number one pick for protection services in today's digital world.

  • Underestimate Cisco at own peril: Cramer

    Mad Money's Jim Cramer takes a look at the cybersecurity space to see if it could also protect your money.

  • Fly with LUV?

    While remaining profitable, Gary Kelly, Southwest Airlines chairman and CEO, tells Mad Money's Jim Cramer the company continues to focus on being a great airline and offering great customer service.