Monday, January 7, 2013

New Study Stresses Need for Modern Workforce with Changing Workforce Demographics

The Economic Opportunity Institute is citing a new study from the University of New Hampshire that indicates recessionary periods serve to increase the proportion of wives in the workforce. Tracking workforce participation since 1988, this data shows the proportion of wives earning income has increased nearly 10% over the last 25 years, including those with children.

The study, "Recessions Accelerate Trend of Wives as Breadwinners", details the need for workers to be able to care for their families and not worry about making ends meet or losing their job. It goes on to say that paid sick days are essential for those few days each year when we catch a cold or our child wakes up with a fever.

In conclusion, the author of the study explains that life events requiring weeks or month of time away from work – an aging parent, a new child, a serious health condition – show the need for family and medical leave insurance: to provide economic security when it’s most important for a worker to be with loved ones.  These policies increase productivity and employee retention, thereby making businesses stronger.

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