How We Sustain Economic Gains
Policy solutions can make the economy work better for everyone.
Published: October 25th, 2024
September 2024 marked the 45th consecutive month in which the U.S. economy added jobs. Unemployment remains low. Wages are up, and relative to its 2022 peak, inflation is down. By many traditional measures, the recovery from the deep recession caused by the COVID-19 pandemic in 2020 has been a resounding success—a success made possible by the 2021 American Rescue Plan Act and other historic and robust relief measures enacted early in the pandemic.
Poll after poll, however, suggests that our economy does not feel strong for millions of people across the country—particularly for women. And while this phenomenon has often been referred to as the “vibecession,” data beyond top-line economic indicators reveal that problems in our economy are not illusory. For millions of women—especially Black women, Latinas, and other women of color—the economy is still not working: Too few jobs are good jobs; managing caregiving demands often feels impossible; and federal support that helped families make ends meet during the pandemic is a distant memory.
The success of pandemic-era income support programs demonstrates that we know how to dramatically reduce poverty, shore up our care infrastructure, and support families with food and housing costs; we also know how to reform our tax code to raise the revenues needed to fund these investments. Yet, because of federal policy choices, many women and families are needlessly struggling to feed their families and keep a roof over their heads—even as incomes and profits for billionaires and corporations have soared.
“The Recovery Paradox: Women and Families Need More Support to Expand and Improve Economic Gains” examines how women are faring in 2024. It considers the good news, including low unemployment and historic wage gains for the lowest-paid workers—and the bad, including the expiration of critical federal supports that were keeping families and caregivers afloat. It includes the voices of four women of color—Tineaka Robinson, Chantelle Mitchell, Christine Matthews, and Merline Gallegos, storytellers and community leaders who partner with the National Women’s Law Center (NWLC) on the Sparking Change storytelling initiative—who share how our nation’s economic policies play out in their daily lives. And it highlights the policy solutions we need to make the economy work better for women, families, and all of us, not just the wealthy few.
For a two-page summary of key findings, click here.