UK: The generation of young women drowning in debt as figures show insolvencies among under 35s soar

Submitted by Broadsword on Thu, 2011-11-03 07:29

Article here. Excerpt:

'Half of Britons being plunged into insolvency are women, the highest proportion since records began, a report revealed yesterday.

It predicts official figures, which will be published tomorrow, will show women account for nearly 50 per cent of all insolvencies in England and Wales for the first time in history.

Experts say they fear it is proof that women have paid the biggest price for the recession, with hundreds of thousands losing their jobs.

More than one million women in Britain are unemployed, with numbers growing by around 500 a day, amid warnings of worse to come.

Many women who do have a job are frustrated because they have been forced into part-time work, which is typically badly paid.

Women also account for around two-thirds of the State workforce, which means they have been more affected by the Government’s cull of the public sector.
...
The rise is being driven by young women in financial difficulty – they make up 65 per cent of insolvencies in the 18 to 25-year-old age group, and 54 per cent of the 26 to 35-year-olds.

Mark Sands, head of personal insolvency at RSM Tenon, said it was a ‘bleak day for female credit ratings up and down the UK’.'

Like0 Dislike0

Comments

I published this article to point out the blatant it's-all-about-women POV. If half of all under-35 insolvencies are coming from women, then gee, the other half are undoubtedly coming from men, too. But if men and women act as economic entities in and of themselves as individuals (a goal of feminism - well, the old feminism, anyway), ie, women are as free and able to work and participate in economic life as men, then the downside is also always a possibility. Men as economic entities have always had to live with the Damocles Sword of economic malfunction or disaster: job loss, general downturn in the market, disasters destroying businesses, livelihood redundancy, all these things. Part of 'equality' must entail the same condition existing for women now that they are functioning in this same capacity.

Or does it? Ask a latter-day feminist and she will undoubtedly say 'No'. The fix? Some type of gov't program. Wait and see.

Like0 Dislike0
Submitted by Matt on Thu, 2011-11-03 22:57