American Morning
Women and economic recovery
The nation's unemployment rate is still climbing, but it's affecting a lot more men than women.
The Bureau of Labor Statistics puts unemployment over eight percent for men, but under seven percent for women. That has some experts wondering – could women be key to our recovery?
For more, we talked to Jacki Zehner with the Women's Funding Network and Linda Butler who's benefitted from that network.
Men: Jobless in bed?
Men aren’t supposed to be big on emotion, but at the Santa Monica’s Men Circle in California, they have no problem discussing their innermost feelings. The recession has them worried, they say. The news makes them anxious. There is anger, fear, self doubt. Former masters of the universe all wondering if their futures will be as bright as their pasts.
“I start questioning my self-worth and am I making good decisions,” one group member admits. “And then I start second guessing my other decisions and it starts eroding my confidence.”
In this circle, they feel free to unload.
“There are times when I want to keep a good face,” says one gentleman with graying hair and boyish grin, “and there are times when I need to just let all that go and I really want to give myself permission to do that.”
Of the nearly four million who have lost their jobs since the recession began, 78% are male. And some sociologists say that they’re hurting more than women.
Ron Paul: We're missing the point
There's been a lot more finger-pointing on Capitol Hill over the AIG bonuses.
But who is ultimately responsible and why did no one see this coming?
Congressman Ron Paul says it's because no one's reading these bills.
He joined us live.
Banking on women in recession
As the recession deepens, guess who’s fast becoming the best friend of American businesses?
American women.
Companies have long known that women often make the buying decisions for the household. But unemployment now is soaring much higher among men than women, which means women now control even more of what gets spent.
By one measure 80% of consumer spending is attributed to women. They control as much as 85% of household spending on everyday items. And they buy more than half of the new cars. Statistics like these are getting the attention of American’s corporations.
CNN Heroes: Bus driver delivers free home-cooked meals
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/03/20/art_heroes_munoz_cnn.jpg caption=" Jorge Munoz estimates he has served more than 70,000 free meals since 2004."]
JACKSON HEIGHTS, New York (CNN) - Every day, unemployed men gather under the elevated 7 train in Jackson Heights, Queens. Many of them are homeless. All of them are hungry. Jorge Munoz estimates he has served more than 70,000 free meals since 2004.
At around 9:30 each night, relief comes in the form of Jorge Munoz's white pickup truck, filled with hot food, coffee and hot chocolate.
The men eagerly accept containers of chicken and rice from Munoz, devouring the food on the spot. Quiet gratitude radiates from the crowd.
For many, this is their only hot meal of the day; for some, it's the first food they've eaten since last night.
"I thank God for touching that man's heart," says Eduardo, one of the regulars.
What's on Tap – Friday March 20th, 2009
Happy Friday! It's the final day of CNN's special Road to Rescue. We hope it leads you to a better future.
As always, we want your calls, e-mails and “tweets” today. Anything on the economy is fair game, from foreclosures to the Fed.'s trillion-dollar gamble.
We have a grand finale lined up for you:
- The big get – Rep. Ron Paul. He is the voice of the resistance on Capitol Hill. He's enraged that the Fed. just created one-trillion-dollars of "new money" – and calls a 90% tax on executive bonuses a "disgrace," a "distraction" and an "outrage" that undermines the Constitution.
- For those of you who fell asleep after your late local news, we have all the highlights from the president's appearance on Leno last night, including a poor attempt at humor that has people talking today.
- Plus – Our Fareed Zakaria landed an exclusive with former New York Governor Eliot Spitzer. He talks about a couple of dirty things – AIG... and his alleged affair with a hooker. We'll have a sneak peek.
- We also have a special look at why women are key to the recovery. As more men become victims of recession, women are gaining the power of the purse. They're spending money in places you wouldn't expect and marketers are paying attention. There's even “just-for-women” potato chips now.
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