America's Kung Flu recession, women hardest hit! - Part 5

Posted On: Saturday - October 24th 2020 7:15PM MST
In Topics: 
  Feminism  Economics

(Continued from Part 1, Part 2, Part 3, and Part 4.)

It's been an even month since Peak Stupidity's last partial fisking of an article that was the biggest and best unintentional indictment of Feminism I've ever read. I noticed that in parts 2 and 4 I did not link to the article in question by one Chabeli Carrazanna from the 19th News website. It's not been odd-numbers only on purpose, but here's the article undergoing the fisking process - America's first female recession, sob , sob.. . [Sobbing added here - Ed]

We left off a month ago on the economics, Supply & Demand, that sort of thing:
Support for minimum wage hikes — what some economists say is one of the best policies to close the gender pay gap — is already sputtering, too. In Virginia, for instance, the state’s first minimum wage increase in a decade has been delayed four months at the insistence of business groups worried about the virus’ impact.
As a Libertarian, I don't agree with the idea of a mandatory minimum wage to begin with. It IS very low now, to where it almost doesn't matter. Anyone found to be a doing a good job in just about any occupation ought to get more than that soon enough. Better than increasing the minimum wage would be the ending right now of ANY constraints on business in Virginia by its legislators.
The outlook is also bleak for those entering the job market or graduating college. The class of 2020 (and probably 2021) will enter a working world that pays less for the fewer jobs available. It’s a vastly different situation from the one graduates expected to be in at the beginning of the year, when the U.S. was at virtual full employment. Unemployment in January 2020 was just 3.6 percent — among the lowest recorded rates since the late 1960s.
That 3.6% was bogus to begin with, as it doesn't count those who've given up looking or been unemployed long enough to not be on the official unemployment rolls. How this affects women more than men for the same jobs is not explained.
According to a 2014 study of graduates from 1974 to 2011, students who graduate during a recession are likely to see their salaries decline by 10 percent in their first year at work, followed by dips of about 2 percent every year during their first decade in the labor force. Higher-paying majors, where male students are concentrated, will fare better, but lower-wage majors, where women predominate, will feel the impact harder.
“That’s something that will impact them for the rest of their career,” Levanon said. “It’s very, very hard to completely recover from that.”
Should female students change majors perhaps, or is it too much work to work out problems and do projects rather than bitching in essays written for Womyn's Studies classes? Here's a suggestion: Don't predominate in the lower-wage majors. Don't predominate in ANY major. Get married and use your body for what it's made for.
William Spriggs, a professor in the Department of Economics at Howard University and a former assistant secretary for policy at the Department of Labor during the Obama administration, called it a “catastrophe.”
What's been catastrophic, Professor, is the effect of feminism on the economy. Men that formerly could become breadwinners to support families without years of expensive degree-getting (not always education) are not good enough for the college gals, so family formation suffers. Men that can barely support themselves in today's economy, and going back long before the Kung Flu too, will not have a chance to support a family because women don't want men who make peanuts. What the hell are you complaining about?
“We cannot continue to go through these economic spasms, where we lose a decade of job growth. And that’s what’s happening,” Spriggs said. “And so the people who have been left out, just as we get to the point where they get included, their resumes get stronger, their ability to withstand job losses gets better, then we send them back down the hill.”
Who do you mean by "we", Kemosabe, err. Professor Spriggs? I didn't send anyone down any hill. Maybe it was the Kung Flu that did it. The more I read this stuff, the more disinclined I will ever be to hire a woman, even MORE qualified than a man. I'm not in a position to do either right now and will probably never be, but we men need to stick together. Thanks for the reminder.

This is just too easy, people. Please, please, cancel those donation checks, tell PayPal to spend the money somewhere else, wisely, and I will forward all your cash on to Bill Gates to help him with his wonderful Kung Flu vaccine work. He must be strapped by now.

This one was kind of boring to me, I gotta admit. The next segment, of the article and the next Peak Stupidity post on it, is about a "A Caring Crisis". Indeed. [/Instapundit]

Sunday - October 25th 2020 10:14AM MST
PS: I kind of blew off that part, Cloudbuster, as just more stupidity, but I was more interested in how this is supposed to "hit women and minorities harder!" I think what the lady was trying to write was something about how the next year's graduates might get lower offers by 10%(?)*, but then that doesn't jibe with the 2nd half of the sentence with is about the pay for a given employee.

Sure, if inflation is 3 or 4 % (the 4% being closest to accurate, IMO), and you get 2% raises, you are losing, but what about the 10% drop? This lady is not really so numerate but just pasted in these factoids from somewhere, is what I think.

* if she'd written "in their first year OF work" maybe my interpretation would be what she meant.. I dunno.
Sunday - October 25th 2020 6:38AM MST
PS students who graduate during a recession are likely to see their salaries decline by 10 percent in their first year at work

Wait, what? Decline relative to what? It's their *first year at work*! Decline by 10% over the course of the year? That simply does not happen, unless you are talking about inflation-adjusted wages in a time of high inflation, but that wouldn't be specific to new graduates. I have no idea what the author is talking about.
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