The World Economic Forum released the 2010 Global Gender Gap Report recently, showing gains for the United States' global ranking. The US ranked 19th globally, breaking into the Top 20 for the first time. Yet many single women mothers in the US continue to face financial peril. They aren't making as much as single men fathers, have much lower wealth, and are much less likely to have benefits such as paid sick days.
Our latest report, "At Rope's End: Single Women Mothers, Wealth and Asset Accumulation in the United States ", by Dr. Mariko Chang and Dr. C. Nicole Mason, Executive Director of the Women of Color Policy Network, uncovers the realities that single women mothers face:
- Estimates show that over 18 million children live in households headed by single women
- Single women mothers possess only 4 percent of the wealth of single fathers: $100 compared to $25,300
- Black and Latino single mothers have a median wealth of zero, whereas single white women mothers report a median wealth of $6,000
Meanwhile a recent Wall Street Journal article says that young, single women in their 20's are making more than their male counterparts. But as some financial commentators observe, much of these gains are due to high levels of education and childlessness. When it comes to single women mothers under 40, over half have zero or negative wealth.
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