Seismic shift in gender earning power
Women are outpacing men in earnings gains, employment, and education
We have reached a tipping point in marital financial power, according to recent studies.
Half of women are now family breadwinners, out-earning or making the same amount as their husbands or partners, according to a new survey. Twenty-one percent of women now say they make more than their partners, and 26 percent said they made the same amount.(1)
Moreover, January Labor Department data shows women now hold 50.04 percent of jobs, outpacing men by 109,000.
Women among younger generations are continue to amass their financial power. Remarkably, just 4 percent of women earned more than their husbands in 1960. Today, Millennial women almost twice as likely as female baby boomers to earn the same as their partners. This trend is likely to continue, as more women than men are currently enrolled in college.
With higher earnings, women are also seeking greater financial empowerment. Almost 6 in 10 women said they wished they had more confidence in their financial decision making, according to another study.(2)
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- TD Ameriprise, 2020
- Allianz Women, Money, and Power 2019
This publication is designed to provide general information and is for discussion purposes only. The effectiveness of any strategy is dependent upon each individual’s facts and circumstances. This article does not provide legal, tax or account advice. Because of the possibility of human or mechanical error, the accuracy, adequacy, completeness or availability of any information is not guaranteed.