As we hear about workers that are challenged during economic downturns, we often hear stories of how someone’s job loss affects their family.
I just read an article by Gail MarksJarvis in the Chicago Tribune that discusses how the economic downtown will have its most negative impact on single women.
Some of the facts in the article:
26 percent of households are headed by women. Those women tend to save and accumulate less wealth than other households. The annual household income for women who never married or are divorced or separated was $22,592 - about half of the level of all households.
Women living on their own had a median net worth of just $32,850, according to the Federal Reserve’s most recent Survey of Consumer Finances. (Net worth is the value of what people own after covering all their debts, and the higher a person’s net worth, the more options they face without stress.)