Women are more likely to be pessimistic about their economic situation than men, according to an April 29 Citibank survey which analyzed the socioeconomic statuses of 2,010 Americans.
The survey concluded that 31 percent of women consider themselves as “working class” and 18 percent believe that they are “poor or below the poverty line.” In the same survey, only 25 percent of men claimed to be “working class” and 13 percent of men said they were “poor.”
Many factors may be linked to women’s financial pessimism, including the responsibility of raising a family, earning less than men and the awareness of climbing food and gasoline prices, according to a Forbes article. Women are also less likely to take risks that add more stress to pessimistic attitudes about family income and spending.
Carrie Preston, a professor in Boston University’s Women’s, Gender and Sexuality Studies Program said that the survey has put a burden on women.
“Citibank’s report of a difference between women’s and men’s concerns about the economy could be interpreted as more evidence that the recession has put a disproportionate burden on women, which has been recognized by many groups, including the United Nations Commission on the Status of Women,” Preston said in an email.
Preston believes that the media is treating serious issues concerning women’s conditions in a frivolous manner.
“I am concerned about the ways the Citibank survey is interpreted in the media,” Preston said. “The attention is on women’s lack of ‘optimism’ rather than on their suffering, and their living conditions are trivialized by headlines such as ‘Don’t Worry, Be Happy’.”
Even though statistics point out that women have less fiscal optimism than men, Preston said there is no proof that women are born with aversion to risk.
“Reporters explain the discrepancy between men and women by saying, ‘Women are naturally more risk averse.’ This suggests that women are ‘naturally’ born with an ingrained response to economic conditions, and those assumptions about gender differences are presented with bias and without evidence,” Preston said.
Some BU students said that women’s domestic responsibilities are one cause of stress.
“I agree that it’s more stressful to raise a family in the recession,” said College of Communication sophomore Eden White. “I also think that there are jobs geared considerably toward men and easier for men to get.”
Maternity leaves can also be a financial burden for women, White said.
“In terms of maternity leave during a recession, it’s harder for women to take time off,” she said.
Students also said that, depending on one’s major and future plans, it may be harder for women to find a high paying job after graduation.
“My major is public relations, so I don’t think I’m going to have a hard time finding a job as a woman. They say that it’s going to be easier to get jobs by the time I graduate,” said COM sophomore Natalie Rizk.
However, some students believe that men should be the ones to have budgetary concerns during times of recession.
“I’m kind of surprised that women are more stressed because men are typically the breadwinners. Usually women who are breadwinners are single moms,” said Sargent College of Health and Rehabilitation sophomore Sophie Lawson.
Lawson also said that more companies are hiring women to “promote gender diversity.”
“It might be harder for women to get a job in certain professions, but most places want to have more diversity and want to try to have a fifty-fifty workplace,” Lawson said. “Women give a different insight then men and make a multi-faceted workplace.”
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