Financial Feminist – 95. The Economic and Social Cost of Not Supporting Women with Carly Zakin and Danielle Weisberg (theSkimm)

Intro

In this episode of the “Financial Feminist” podcast, Carly Zakin and Danielle Weisberg, co-founders of theSkimm, discuss the economic and social cost of not supporting women in the workforce. They share insights from their study on the state of women today and highlight the importance of women’s participation in the economy. Join them as they explore the challenges women face and the actions needed to create a more supportive and equitable society.

Main Takeaways

The Skimm’s Study on the State of Women

• The Skimm partnered with Harris Poll to conduct a study on the state of women today.
• The study provides data-backed insights on the state of women in society, money, career, family, and well-being.
• The Skimm is a digital media company dedicated to giving women information to make confident decisions.
• The Skimm ecosystem includes newsletters, podcasts, mobile apps, and in-house video and audio content.

The Journey of Carly and Danielle

• Carly and Danielle both worked for NBC News after college, with Carly producing long-form documentaries in Washington, DC and Danielle working in DC and Chicago.
• Graduating in 2008 during a time of economic recession and job loss, they had to hustle and do more than their job descriptions required.
• They both wanted to combine their interests in media and politics and were interested in the business side of things.
• Carly and Danielle had a conversation about whether to go to grad school or start something themselves, which ultimately led to the creation of the Skimm.

The Economic and Social Cost of Not Supporting Women

• $3.1 trillion is at risk to the US economy if women are not supported in the workforce.
• Women’s issues are often only taken seriously when framed as a financial issue.
• The report highlights the shocking depth of women’s struggles, which many already know but struggle to articulate.
• Two stats that stood out were not being able to afford basic necessities and the prevalence of sexual harassment and assault in the workplace.

Challenges Faced by Women and the Need for Support

• 83% of women are tired of society telling them what their role should be.
• 71% of women self-identify as “chief warrior officer,” carrying all the burdens on their shoulders, including financial stability, taking care of children and parents, and worrying about social issues and political leaders.
• 87% of women are worried about financial stability.
• One in five women are dealing with a mental health crisis.

Actions and Solutions

• Women contribute significantly to the economy and the workforce, which gives hope for change.
• Companies with pay transparency have shown that women make either a dollar for every man’s dollar or a dollar and one cent for every man’s dollar.
• The declining birth rate is a concern, and society needs to support women in having children by providing healthcare, time off, and support.
• Women are taking action to change the situation, from small changes to advocating for paid family leave policies.

Summary

The Skimm’s Study on the State of Women

The Skimm, a digital media company, conducted a study in partnership with Harris Poll to gather insights on the state of women today. The study covers various aspects of women’s lives, including society, money, career, family, and well-being. The Skimm aims to provide women with the information they need to make confident decisions through their newsletters, podcasts, mobile apps, and in-house content.

The Journey of Carly and Danielle

Carly and Danielle both started their careers in media, working for NBC News. Graduating during an economic recession, they had to go above and beyond their job descriptions to succeed. They wanted to combine their interests in media and politics and eventually decided to start their own business, leading to the creation of the Skimm.

The Economic and Social Cost of Not Supporting Women

The Skimm’s study reveals that $3.1 trillion is at risk to the US economy if women are not supported in the workforce. It emphasizes that women’s issues are often only taken seriously when framed as a financial issue. The study highlights the struggles faced by women, such as the inability to afford basic necessities and the prevalence of workplace sexual harassment and assault.

Challenges Faced by Women and the Need for Support

The study shows that many women feel burdened by societal expectations and are worried about financial stability. Mental health crises are also prevalent among women. These challenges highlight the need for support and change in various areas of women’s lives.

Actions and Solutions

Despite the challenges, women contribute significantly to the economy and the workforce, offering hope for change. Pay transparency has shown promising results in reducing the gender pay gap. Supporting women in starting families through healthcare, time off, and other forms of support is crucial. Women are actively taking action, advocating for paid family leave policies and making small changes to improve their situations.

Conclusion

The Skimm’s study on the state of women sheds light on the economic and social cost of not supporting women in the workforce. It emphasizes the need for change in various areas, including pay transparency, support for starting families, and addressing mental health issues. Women are taking action, and it’s essential for individuals, businesses, and policymakers to work together to create a more supportive and equitable society.