Is the U.S. in recession?

May 13, 2008 12:00:00 AM PDT
Everyday we hear more about the credit crisis, mortgage crisis, job losses, or the rising cost of gas and food. But economists are split, many saying no. Now new numbers suggest, yes, if you're a man. The big debate is the U.S. in a recession or not? Everyday we hear more about the credit crisis, mortgage crisis, job losses, or the rising cost of gas and food. But economists are split, many saying no. Now new numbers suggest, yes, if you're a man.

Where else to talk intimately about the economy than a hair salon?

Carmen Wigmans, the owner of Reve in Sylvania, says the only difference she notices is that credit card sales are up.

"They are still coming to the salon and they are still spending money with us."

But what about the customers?

Reve customer Jodi Dusa says, "The dollar doesn't go as far as it used to."

Can a household be split? New numbers show men are in a recession and women are not. From last November through this April, American women age 20 and up gained nearly 300,000 jobs. At the same time, American men lost nearly 700,000 jobs. That's according to the Household Survey of the Bureau of Labor Statistics.

It can be broken down into industries that are mostly male and mostly female.

Construction and manufacturing sectors, predominantly male, are losing jobs. The education and health services sectors, predominantly female, are growing.

Kris O'Donnell, a nurse, agrees with a male-based recession.

"I'm comfortable in my job. I know most of the other girls I work with are also. But my husband works for automotive. He is a supplier for automotive and that's not as strong."

While Kris is trying to stretch her beauty dollars by going longer between trips to the stylist, one thing that she won't cut from her budget is her hair cut.

It's not always a rosy picture for women. While they're getting more jobs, their pay is not rising.


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