Trump’s economy is bad for women’s economic well-being. The Century Foundation, in partnership with Morning Consult, recently conducted a poll about economic security, which found that men and women are facing real economic crises now, and also fearing for the future; and there is a gender gap in both financial struggles and hope.
The nationally representative survey of more than 2,000 registered voters reveals some similarities in women and men’s experiences in the economy. In alarming numbers, people are skipping meals to save money, paying bills on credit cards, borrowing from friends and family, and tapping into savings to make ends meet. More than 70 percent think it has become more difficult for average people to afford paying for college, raising a family, and buying a home.
Women and men are similarly concerned that President Trump’s tariffs will raise prices on everyday goods (79 percent and 78 percent, respectively). They express similar levels of concern about the cost of groceries (84 percent and 82 percent) and paying the rent (48 percent and 45 percent).
Digging further into the numbers, however, the differences between both the concerns and direct experiences of men and women are more striking. Women, of all ages, feel even more strongly than men that Trump’s first months in office have negatively impacted the overall economy, prices at the grocery store, and their personal or family finances (see Figure 1). Furthermore, more than half of all women (54 percent) disapprove of the job President Trump is doing (as compared to 48 percent of men), with women under age 34 (58 percent) and women over age 65 (62 percent) holding the strongest disapproval of the current president (see Figure 2). In fact, the largest gap in approval between men and women of the same age is the youngest cohort—with young men’s disapproval reaching only 43 percent.
Figure 1
Figure 2
These survey results should not be surprising. Across the board, women are experiencing an even greater threat to their economic security than men. While both men and women are struggling with rising costs, women are faring worse on almost every indicator, including taking on debt to cover the basics, borrowing from friends and family to pay bills, falling behind on monthly bills, and having difficulty paying rent or mortgage (see Figure 3). In addition, more women (53 percent) are worried than men (44 percent) that they could not cover an unexpected bill of $500 without having to borrow money.
Figure 3
Young Women Are the Most Skeptical, and the Most Financially Insecure
For young women, ages 18–34, the American Dream is all but dead. Only 21 percent of young women believe that it definitely still holds true today that the promise that anyone, regardless of their background, can achieve success in this country through hard work and playing by the rules, as compared to almost double that (40 percent) for men of the same age cohort. Young women are also the least likely women of all age cohorts to believe in the promise of the American Dream (see Figure 4).
Figure 4
Young women’s economic experiences have contributed to this skepticism. The same indicators mentioned above that show women faring worse in terms of economic insecurity also show that young women are the most financially insecure as compared to both young men (see Figure 5) and older women (see Figure 6).
Figure 5
Figure 6
Reclaiming the American Dream
The polling data alone does not tell the full story, but we know its larger context: decades of slow (but steady) progress on achieving women’s economic equality. Over the past half century, women have increased their labor force participation and fought to narrow gender gaps in pay to ensure that they can meet their basic needs, build wealth, and achieve retirement security. This work has required not only overcoming historic structural inequalities in public policies but also shifting cultural norms that shape the way Americans perceive and treat gender roles, work, and care.
With a long way still to go before achieving women’s economic equality, the Trump administration’s policies and rhetoric are actually working to undermine that progress and take it backward, intentionally pushing women out of the labor force through their anti-diversity, pro-discrimination efforts, while undermining the reproductive autonomy that allows women greater freedom to work. While mothers’ labor force participation made significant gains during the Biden administration, the past few months are showing striking declines.
It doesn’t have to be this way. The solution is an agenda that makes the basic cost of living more affordable, including a pathway to homeownership and higher education. Policymakers must focus on policies that support women’s labor force participation, including equal pay laws, anti-discrimination policies, reproductive freedom laws, and investments in the care infrastructure that support families to both work and care. When women and men are able to freely choose their career and work decisions equally, it benefits the economic security of everyone.
Economic anxiety is the reality of Trump’s America. The angst that so many people are experiencing—especially women and people of color—is likely to get worse before it gets better, as the impacts of chaotic tariffs, the megabill’s health care and food assistance cuts and price increases, and more policies that put billionaires above families take hold. That’s why it’s more important than ever that the leaders who disagree with these approaches stand up and fight for the promise that anyone, regardless of their background, can achieve success in this country through hard work and playing by the rules, before it’s too late to reclaim the American Dream for everyone.
Tags: women, economy, polling, donald trump, care economy
Trump’s Economy Is Bad for Women
Trump’s economy is bad for women’s economic well-being. The Century Foundation, in partnership with Morning Consult, recently conducted a poll about economic security, which found that men and women are facing real economic crises now, and also fearing for the future; and there is a gender gap in both financial struggles and hope.
The nationally representative survey of more than 2,000 registered voters reveals some similarities in women and men’s experiences in the economy. In alarming numbers, people are skipping meals to save money, paying bills on credit cards, borrowing from friends and family, and tapping into savings to make ends meet. More than 70 percent think it has become more difficult for average people to afford paying for college, raising a family, and buying a home.
Women and men are similarly concerned that President Trump’s tariffs will raise prices on everyday goods (79 percent and 78 percent, respectively). They express similar levels of concern about the cost of groceries (84 percent and 82 percent) and paying the rent (48 percent and 45 percent).
Digging further into the numbers, however, the differences between both the concerns and direct experiences of men and women are more striking. Women, of all ages, feel even more strongly than men that Trump’s first months in office have negatively impacted the overall economy, prices at the grocery store, and their personal or family finances (see Figure 1). Furthermore, more than half of all women (54 percent) disapprove of the job President Trump is doing (as compared to 48 percent of men), with women under age 34 (58 percent) and women over age 65 (62 percent) holding the strongest disapproval of the current president (see Figure 2). In fact, the largest gap in approval between men and women of the same age is the youngest cohort—with young men’s disapproval reaching only 43 percent.
Figure 1
Figure 2
These survey results should not be surprising. Across the board, women are experiencing an even greater threat to their economic security than men. While both men and women are struggling with rising costs, women are faring worse on almost every indicator, including taking on debt to cover the basics, borrowing from friends and family to pay bills, falling behind on monthly bills, and having difficulty paying rent or mortgage (see Figure 3). In addition, more women (53 percent) are worried than men (44 percent) that they could not cover an unexpected bill of $500 without having to borrow money.
Figure 3
Young Women Are the Most Skeptical, and the Most Financially Insecure
For young women, ages 18–34, the American Dream is all but dead. Only 21 percent of young women believe that it definitely still holds true today that the promise that anyone, regardless of their background, can achieve success in this country through hard work and playing by the rules, as compared to almost double that (40 percent) for men of the same age cohort. Young women are also the least likely women of all age cohorts to believe in the promise of the American Dream (see Figure 4).
Figure 4
Young women’s economic experiences have contributed to this skepticism. The same indicators mentioned above that show women faring worse in terms of economic insecurity also show that young women are the most financially insecure as compared to both young men (see Figure 5) and older women (see Figure 6).
Figure 5
Figure 6
Reclaiming the American Dream
The polling data alone does not tell the full story, but we know its larger context: decades of slow (but steady) progress on achieving women’s economic equality. Over the past half century, women have increased their labor force participation and fought to narrow gender gaps in pay to ensure that they can meet their basic needs, build wealth, and achieve retirement security. This work has required not only overcoming historic structural inequalities in public policies but also shifting cultural norms that shape the way Americans perceive and treat gender roles, work, and care.
With a long way still to go before achieving women’s economic equality, the Trump administration’s policies and rhetoric are actually working to undermine that progress and take it backward, intentionally pushing women out of the labor force through their anti-diversity, pro-discrimination efforts, while undermining the reproductive autonomy that allows women greater freedom to work. While mothers’ labor force participation made significant gains during the Biden administration, the past few months are showing striking declines.
It doesn’t have to be this way. The solution is an agenda that makes the basic cost of living more affordable, including a pathway to homeownership and higher education. Policymakers must focus on policies that support women’s labor force participation, including equal pay laws, anti-discrimination policies, reproductive freedom laws, and investments in the care infrastructure that support families to both work and care. When women and men are able to freely choose their career and work decisions equally, it benefits the economic security of everyone.
Economic anxiety is the reality of Trump’s America. The angst that so many people are experiencing—especially women and people of color—is likely to get worse before it gets better, as the impacts of chaotic tariffs, the megabill’s health care and food assistance cuts and price increases, and more policies that put billionaires above families take hold. That’s why it’s more important than ever that the leaders who disagree with these approaches stand up and fight for the promise that anyone, regardless of their background, can achieve success in this country through hard work and playing by the rules, before it’s too late to reclaim the American Dream for everyone.
Tags: women, economy, polling, donald trump, care economy