A just released report finds that despite the vital contributions made by unmarried women to the U.S. economy, they continue to be limited by their economic circumstances, and the Great Recession has only heightened the urgency of improving the economic security of this particular group.
The report, The Other Half, produced by the Washington-based Center for American Progress states that, unmarried women make up nearly half (47%) of all women in America today and comprise nearly a quarter (24%) of the total adult population in the U.S. Unmarried women head 3 in 10 households and are raising one-quarter (25%) of all American children under 18 years old.
Yet, even as unmarried women make important contributions, the report points out that, they are constrained by their economic circumstances. For example, unmarried women have significant debt and much lower median net wealth than couples or unmarried men. overall, unmarried women have less economic security than others, the report states.
Unmarried women have, like all Americans been hard hit by the Great Recession–with many experiencing unemployment, mortgage foreclosures and increased food insecurity. These circumstances also affect many of the one-quarter of American children raised by single mothers.
While the American Recovery and Reinvestment Act has to some degree tempered the impact of the recession and unmarried women have benefited, the report notes that improving the economic situation of this group will help the national economy overall.
“Policy makers should focus on policies that will increase unmarried women’s wages and spending potential, reduce their debt and increase their wealth, and improve the lives and futures of the children they are raising. Policy makers must ensure that their efforts to lay the foundation for long term economic growth allow all Americans–including unmarried women–to participate in and benefit from our economy and its recovery. This will in turn benefit our country as a whole by tapping into this group’s as-yet unrealized economic potential,” the report concludes.
