New Report Finds that Four in Ten Women Lack Economic Security
Nov 20, 2013
By Lauren French
Despite the increasingly important role of women in America's workforce, many are still struggling to afford basic needs and make ends meet. In conjunction with Representative Rosa DeLauro (CT-D), Wider Opportunities for Women (WOW) recently hosted a congressional briefing to discuss these economic challenges. The briefing included remarks from Shawn McMahon, CEO of WOW; Teresa Younger, executive director of the Permanent Commission of the Status of Women in Connecticut; and Anastasia Braucht, a Jersey Shore restaurant worker and volunteer with Restaurant Opportunities Centers United.
The briefing highlighted a new WOW report that finds 45 percent of Americans are economically insecure. The report defines economic insecurity based on the Basic Economic Insecurity Tables Index (BEST), a measure of the basic needs and assets required to achieve financial stability, taking into account health care premiums, child care, retirement and emergency savings, and employer-based benefits. This measure goes beyond the baseline poverty rate, and instead calculates a benchmark income that allows families to make ends meet and escape poverty.