The outlook on unemployment these days: grim. Sensitivity about who is selected for layoffs have recently thrust workplace discrimination and diversity into the spotlight. The impact of the recession on different genders has been far from equal in the current labor market. Overall, men suffer from a significantly higher unemployment rate in the US, in large part because male dominated industries – like construction and manufacturing – have been hit hard by the recession.
But for employees holding Bachelors and MBA degrees, it turns out that the recession (and many organizations) has no favorites. A recent study of MBAs by Catalyst found no differences in the rates of layoffs for men and women with MBAs. This data is confirmed by other sources, like the US Bureau of Labor Statistics (BLS), which shows comparable rates of unemployment for men and woman with BA degrees or higher. In fact, in times of economic uncertainty, promotions are still roughly equal amongst men and women who hold these degrees, particularly within middle management across U.S. organizations.
Given the impact that cost cutting tactics can have on HR programs, such as those dedicated to diversity, it is reassuring to see that a commitment to diversity isn’t being “cut” across many U.S. organizations.
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