Money
GAO* Report on Retirement Security: Older Women Report Facing a Financially Uncertain Future
GAO* was asked to report on the financial security of older women. This report examines women retirees' perspectives on their financial security, and (2) what is known about the financial security of older women in retirement. Women also cited a range of experiences that hindered their retirement security, such as divorce or leaving the workforce before they planned to. Women in all 14 focus groups said their lack of personal finance education negatively affected their ability to plan for retirement. Many shared ideas about personal finance education including the view that it should be incorporated into school curriculum starting in kindergarten and continuing through college, and should be available through all phases of life. more »
Women's Congressional Weekly Legislative Update: Paycheck Protection Program Restrictions, Child Care Grants, Pandemic Unemployment Assistance
Bills Introduced: A bill to direct the attorney general to convene a national working group to study proactive strategies and needed resources for the rescue of children from sexual exploitation and abuse ... A bill to ensure access to Pandemic Unemployment Assistance for workers who are unable to obtain child and family care ... A bill to extend existing Supplemental Nutrition Assistance Program (SNAP) flexibilities for states during the COVID-19 pandemic ... A bill to temporarily waive section 115 of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 as applied to the Temporary Assistance for Needy Families (TANF) and SNAP programs ... A bill to make permanent the employer credit for paid family and medical leave. more »
The GDP: Gross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual Update
Personal Income and Outlays: Current-dollar personal income increased $1.39 trillion in the second quarter, compared with an increase of $193.4 billion in the first quarter. The increase in personal income was more than accounted for by an increase in personal current transfer receipts (notably, government social benefits) that was partly offset by declines in compensation and proprietors' income (table 8). ... Disposable personal income increased $1.53 trillion, or 42.1 percent, in the second quarter, compared with an increase of $157.8 billion, or 3.9 percent, in the first quarter. Real disposable personal income increased 44.9 percent, compared with an increase of 2.6 percent. more »
US Census Report: Cost of Motherhood on Women’s Employment and Earnings; Taking a Short Break From the Labor Force Has Only a Temporary Effect on Earnings
For mothers who continue to work, earnings fall by an average of $1,861 in the first quarter after birth relative to earnings pre-pregnancy or in early pregnancy (three quarters before the birth). But earnings recover to pre-birth levels by the fifth quarter after birth, and rise by an average of $101 per quarter for the next six years. While this recovery is encouraging, it is not large enough to return women to their pre-birth earnings path. There are no major differences in earnings between working mothers with just one child and those with multiple children. more »