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For Saumya Bhatnagar, being the only woman in a room is far from a novel experience. An engineer by training and currently the co-founder and chief product officer at AI sales rep startup Jeeva, she remembers being the sole girl in her high school's 170-person <a target="_blank" class="" href="https://www.businessinsider.com/5-tips-women-career-coding-twilio-2020-8">coding class</a> — and that none of her male peers would sit next to her."I had to make space for myself, and there were plenty of micro and macro aggressions in the grand scheme of things that I had to talk my way through," she told Business Insider. "At the end of the day, <a target="_blank" class="" href="https://www.businessinsider.com/women-left-out-of-the-ai-investment-boom-risks-bias-2023-10">it's a man's world</a> in the VC, startups, and AI space."Bhatnagar isn't alone in her journey. Although the number of women-founded startups has increased, less than 3% of venture capital funding went to <a target="_blank" class="" href="https://www.businessinsider.com/venture-capital-decline-hurts-female-founders-gender-gap-startup-funding-2023-12">female-only founding teams</a> in 2022, according to PitchBook.A handful of women who are well-known as leaders in the AI space — including "Godmother of AI" <a target="_blank" class="" href="https://www.businessinsider.com/vcs-like-khosla-and-a16z-backing-robotics-that-use-ai-2024-7">Fei Fei Li</a>, Anthropic president and co-founder Daniela Amodei, and OpenAI's former chief technology officer Mira Murati. But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men.In the AI sector specifically, which has surged in popularity since the release of ChatGPT two years ago, the challenges for female founders are even more pronounced. <a target="_blank" class="" href="https://www.businessinsider.com/meet-18-women-who-made-partner-vc-firms-in-2023-2023-11">AI continues to attract significant VC interest</a>, but women in the space face additional barriers compared to their male counterparts, starting at the education level.While a degree in engineering or computer science isn't a requirement for launching an AI company, it's often a prerequisite for techies building foundational models to tackle complex machine-learning problems. Women accounted for just 22% of AI and computer science PhD programs in the US in 2019, according to a Deloitte study.Women in 2020 made up an estimated 26% of data and AI positions in the workforce, per a World Economic Forum report. And <a target="_blank" href="https://www.uktech.news/diversity/ai-funding-women-founders-20240319">recent data from the UK </a>shows that only about 4% of AI startups in the country have women founders.Although Bhatnagar is among the small group of women in the space with advanced technical chops, she says she still notices the gender imbalance in the AI world — and that it, at times, has led to her feeling impostor syndrome and burnout.Developing relationships with other women working in the AI space has become a vital lifeline, she said. An active member of online and in-person groups, including <a target="_blank" href="https://www.womenandai.com/">Women and AI</a> and <a target="_blank" href="https://thewomenweadmire.com/">Women We Admire</a>, Bhatnagar said that she's made connections that support her in navigating difficult business dynamics, connecting with female investors, and finding solace in shared experiences."Women are not comfortable asking for help, and there's this idea that perfectionism needs to be showcased at all times," she said. "Finding a community of women has helped me take risks and realize that I'm actually doing okay," she said.Vivien Ho, a partner at early-stage fund Pear VC, has watched the meteoric rise of buzzy AI startups during the last two years and noticed that many are run by men, she said. But as a longtime community builder in the Bay Area tech scene, this didn't jive with what she was seeing on the ground. There were plenty of women interested in building AI companies, she said. Many just didn't know how to start.This observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups. Each FFC cycle welcomes a cohort of around 50 women for two months of programming that includes fireside chats with existing female AI founders, company-building workshops with Pear investment partners, and other in-person events designed to help women build meaningful relationships with one another, such as pitch competitions, spa days, and public speaking practice.Demand for FFC has exploded, Ho said, with more than 500 women applying for the most recent cohort that kicked off last month. And the program has already been a success: more than 70% of participants end up incorporating their startups, and at least five women have matched with another female co-founder in their cohort, she said."Three of our FFC founders have already raised Series Bs, which is pretty incredible," Ho told BI. "We first meet them, and they're really shy, and then three years later, they're running a 100-person company and making eight figures. It's incredible to see how we can build a community that makes a difference."As women in AI create opportunities that could help them succeed, their work parallels women in another once-white-hot subsector of the startup world: at the height of the crypto craze, female-led blockchain startups earned about 6.4% of venture dollars in the third quarter of 2022, <a target="_blank" class="" href="https://www.bitget.com/blog/articles/bitget-report-the-gender-gap-in-blockchain-startup-funding-press-release">according to data from Bitget</a>.Funding in the space has dropped off dramatically during the last two years, and women continue to struggle when it comes to connecting with investors and closing rounds, <a target="_blank" class="" href="https://www.forbes.com/sites/digital-assets/2024/08/29/what-web3-data-reveals-about-gender-inequality-in-the-crypto-industry/">Forbes recently reported</a>.For Shreya Rajpal, Pear VC's FFC was one of the first times she felt genuine, positive support from the people around her. As a software engineer who cut her teeth in startups and on Apple's machine learning initiatives, she was accustomed to being the only woman whose work was judged with more scrutiny than that of her male coworkers."There are a lot of men who aren't very supportive, and being the only woman on a team means that they're often an undue level of attention on your work, so you stand out, for better or for worse," Rejpal told BI. "Pretty early on, it was obvious that I kind of needed to justify my space in the room a lot more compared to other folks."Fast forward to today, and Rajpal is the CEO and co-founder of Guardrails AI, which builds risk and reliability systems for generative AI programs. As she's progressed in her career, she's made an effort to build community with other women in tech. It's work that takes significant time, but it's been "life changing" in terms of succeeding as a founder and well worth the effort, she said.Guardrails earlier this year raised a $7.5 million seed funding round led by Zetta Venture Partners with participation from Pear, Bloomberg Beta, and GitHub Fund.In addition to participating in bigger groups like FFC, Rajpal has sought out mentorship opportunities with other women in engineering, machine learning, and project management."I became friends with a woman who is five to six years older than me and in the industry for that much longer, doing the things that I wanted to do," she said. "Hearing from her and what worked for her, in terms of changing jobs and talking to her about how she made those decisions, was the stuff that ended up being really impactful for me."Stephanie Guo, a partner at Sapphire Ventures based in San Francisco, is constantly iterating on community events for women interested in AI that strike the right balance between informational – think fireside chats and panel discussions – and informal ways for women to form connections that turn into mentor relationships.These events aren't just for would-be founders: Guo says that while the number of female-funded AI startups can sometimes seem "abysmally small," she's encouraged by the number of women who hold leadership positions at AI startups, funds, and bigger companies."We're creating both the space to have dialogue, but also a networking opportunity," Guo told BI. "These relationships stick, and there are business opportunities that actually form from them."

For women building AI startups, finding community has been the key to success

One of the fundamental focuses of this <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> was to boost skill development, job creation, and <keyword id="19898684" type="General" weightage="100" keywordseo="employment" source="keywords">employment</keyword>, with youth being one of its four cornerstones, in addition to women, the poor, and farmers. And to this front, the FM announced major changes, particularly to benefit first-timers or new additions to the workforce. New entrants across all formal sectors will be eligible for receiving one month worth of wages in three instalments, with a ceiling of Rs 15,000. This is expected to benefit 210 lakh young people who have a maximum annual salary is Rs 1,00,000. <h2>New in the workforce? You'll be paid</h2>Both employers and employees will be incentivised by means of <keyword id="20587419" type="General" weightage="20" keywordseo="EPFO-contributions" source="keywords">EPFO contributions</keyword> for the first 4 years of employment. What makes this scheme particularly lucrative for employees is that the government will reimburse EPFO contributions, Rs 3,000 per month, per additional employee, to the employer. For this purpose, all additional employees who have a maximum salary of Rs 1 lakh will be considered. In order to promote upskilling, the budget also promised loans of up to Rs 7.5 lakh, which will be backed by government' guarantee. It is estimated that this will benefit 25,000 students every year. Youngsters will also be able to get loans of up to Rs 10 lakh for pursuing higher education in domestic educational institutions. Apart from this, around 1,000 industrial training institutes will be upgraded, in order to train 20 lakh youth over the next 5 years. E-vouchers will be provided to 1 lakh students every year for interest subvention (bringing down the total interest cost) of up to 3% of the total loan amount. Says Krishnendu Chatterjee, VP and Business Head at TeamLease Services, "The government's commitment to employment and employability is clear with its Rs 1.48 lakh crore provision. This initiative, based on EPFO enrollment, focuses on recognizing first-time employees and includes direct benefit transfers of the first month's salary in three installments for salaries up to Rs 1 lakh". "Special emphasis is placed on the industrial and manufacturing sectors. Additionally, employers will receive incentives for job creation, with the government reimbursing up to Rs 3,000 per month for two years towards EPFO contributions for each new employee", he continued. <h2>Internship in top companies </h2>The budget also laid out a comprehensive scheme for assisting 1 crore young people to secure a 12-month internship in one of the top 500 companies of the country, over the next 5 years. For this, a monthly allowance of Rs 5,000 and a one-time help of Rs 6,000 will be provided. All training costs, along with 10% of the internship costs will be borne by the CSR funds of respective companies. Sunil Deshmukh, Chair of Global Board of Directors, Institute of Management Accountants noted that " with a Rs 2 lakh crore package for employment and skilling and Rs 1.48 lakh crores allocated to education, employment, and skill development, the budget comprehensively addresses job creation and skill enhancement. First-time workforce entrants will receive a direct transfer of up to ₹15,000, enhancing employability and stimulating economic growth. Overall, these measures demonstrate a strong commitment to economic reform and growth, creating a favorable tax environment that supports <keyword id="94495" type="General" weightage="20" keywordseo="Innovation" source="Orion">innovation</keyword>, investment, and long-term development.'

Union Budget 2024: More for new additions in workforce, internship in top 500 companies

<ul class="summary-list"><li>A new study found that 7.8% of jobs held by women, and 2.9% held by men, could be automated.</li><li>Technology that eliminates their jobs could be detrimental to the economy.</li></ul>Women are working at <a target="_blank" href="https://www.businessinsider.com/women-are-working-at-record-highs-2023-8">near-record levels</a>, and their spending is helping to <a target="_blank" href="https://www.businessinsider.com/taylor-swift-tickets-funflation-hurting-best-buy-sales-ceo-2023-10">prop up the US economy</a>, but their economic power could be threatened by the future of artificial intelligence.An August study by the International Labour Organization found that in high-income countries, 7.8% of jobs held by women have the <a target="_blank" href="https://www.businessinsider.com/ai-unlikely-destroy-jobs-admin-workers-greatest-risk-chatgpt-2023-8">potential to be automated</a> — compared to just 2.9% of men's jobs. A Pew Research <a target="_blank" href="https://www.pewresearch.org/social-trends/2023/07/26/which-u-s-workers-are-more-exposed-to-ai-on-their-jobs/">analysis</a> from July estimated that 21% of US women were employed in jobs that are the most exposed to AI — meaning there's a higher likelihood that women's work tasks could be replaced or aided by AI. Seventeen percent of men were employed in highly exposed professions, per Pew. Other <a target="_blank" href="https://kenaninstitute.unc.edu/kenan-insight/will-generative-ai-disproportionately-affect-the-jobs-of-women/">studies</a> have found a <a target="_blank" href="https://www.mckinsey.com/mgi/our-research/generative-ai-and-the-future-of-work-in-america">similar</a> gender disparity.From an economic perspective, more women working means more <a target="_blank" href="https://www.businessinsider.com/female-entrepreneurship-women-quitting-jobs-great-resignation-2022-5">entrepreneurship</a>, fewer <a target="_blank" href="https://www.businessinsider.com/baby-boomer-retirement-surge-spark-forever-labor-shortage-jobs-workers-2023-5">labor shortages</a>, and more <a target="_blank" href="https://www.businessinsider.com/taylor-swift-tickets-funflation-hurting-best-buy-sales-ceo-2023-10">disposable income</a> to spread around businesses. In the years ahead, when a <a target="_blank" href="https://www.businessinsider.com/us-population-decline-worker-shortage-labor-birth-rates-immigration-economy-2023-5">declining US population</a> could pose a serious threat to the economy, barriers that prevent women from entering the workforce and technology that eliminates their jobs could be all the more detrimental.<h2>Retraining workers could help mitigate the impacts of AI job replacement</h2>To be sure, the AI future has yet to be written. While some workers could face more competition, <a target="_blank" href="https://www.businessinsider.com/jobs-at-risk-replaced-ai-chatgpt-oxford-economist-2023-2">earn lower wages</a>, or even see AI replace their jobs, these technologies could help other workers become <a target="_blank" href="https://www.businessinsider.com/ai-boosts-productivity-happier-at-work-chatgpt-research-2023-4">more productive</a>, find employment in <a target="_blank" href="https://www.businessinsider.com/jobs-ai-chatgpt-us-hiring-tech-remote-location-2023-7">new industries</a>, and even have a <a target="_blank" href="https://www.businessinsider.com/ai-boom-share-profits-workers-productivity-wages-2023-5">four-day workweek</a>.If AI does replace some women's jobs, <a target="_blank" href="https://www.businessinsider.com/jobs-at-risk-from-ai-replace-change-chatgpt-automation-study-2023-7">retraining them for high-demand roles</a> can hopefully help many of them find work, Michael Chui, a partner at the McKinsey Global Institute, previously told Insider."There was a time when a vast majority of the workers in the United States were involved in agriculture," he said. "And then years later, far more people were working in factories for instance. But we didn't end up with 50% unemployment. We have historically been able to do this."<h2>Childcare costs and return-to-office movements are already pushing some women out of the workforce</h2>The threat of AI is just the latest obstacle women are facing in the labor force.In the US, <a target="_blank" href="https://www.businessinsider.com/childcare-daycare-cost-new-york-city-crisis-housing-2023-9">sky-high childcare costs</a> have forced some women to quit their jobs and look after their kids. Additionally, the September expiration of billions of dollars in federal childcare funds could lead childcare providers to <a target="_blank" href="https://www.businessinsider.com/providers-struggle-to-keep-funding-rising-childcare-costs-2023-9">raise prices even further</a>, compounding the affordability problem."There'll be a cap on how much we can improve female labor-force participation and how many women who want to work will be able to do," Julia Pollak, the chief economist of ZipRecruiter, previously told <a target="_blank" href="https://www.businessinsider.com/providers-struggle-to-keep-funding-rising-childcare-costs-2023-9">Insider</a>.In recent years, <a target="_blank" href="https://www.businessinsider.com/work-from-home-women-careers-jobs-pandemic-flexibility-gender-equality-2023-7">remote work</a> has made it easier for many women to balance work and childcare responsibilities, Aaron Terrazas, Glassdoor's chief economist, previously told <a target="_blank" href="https://www.businessinsider.com/women-are-working-at-record-highs-2023-8">Insider</a>."By our estimates, the expansion of remote work allowed about one million women in their 30s and 40s to remain in the workforce at an age when prior generations may have stopped working for family and child-care responsibilities," he said.But as more US companies call workers <a target="_blank" href="https://www.businessinsider.com/companies-making-workers-employees-return-to-office-rto-wfh-hybrid-2023-1">back to the office</a>, some of this progress could be reversed.However, even if AI does pose an additional threat in the years ahead, <a target="_blank" href="https://www.businessinsider.com/people-are-bored-with-chatgpt-generative-ai-bosses-are-not-2023-9">it won't change things overnight</a>, giving some women time to prepare.

The AI boom is the newest threat to women's presence in the workforce

Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality. The report highlights that the surge in job applications is largely for roles such as Sales &amp; Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring. "SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers. Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce. As SMEs and MSMEs continue to grow, the <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target. (With inputs from PTI)

Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

<ul><li>90 percent women think <keyword id="19949719" type="General" weightage="20" keywordseo="GenAI" source="keywords">GenAI</keyword> can help them grow in their careers</li><li>However, most don't know how to use GenAI to their advantage</li><li>Women are also willing to put in more efforts to be successful</li></ul> When <keyword id="15777223" type="General" weightage="20" keywordseo="generative-AI" source="Orion">generative AI</keyword> chatbot <keyword id="15681942" type="General" weightage="20" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> was introduced to the world on a large scale by Open<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword> in November 2022, it was taking the internet by storm. People were using it to write code, compose poetry, write content and whatnot. Soon, tools like ChatGPT became a part of many working professionals' lives. Over the last few months, there have been many reports highlighting how AI is turning out to be a part of workplaces. Now, a recent report says that women in the tech industry see generative AI as a crucial step towards their career growth. However, there is a major challenge being encountered- they aren't trained enough to use GenAI tools. <h2>90 percent women feel GenAI is a step towards career growth</h2>A new report by <keyword id="19955786" type="General" weightage="20" keywordseo="nasscom" source="keywords" meta.keywordsubtype="org" meta.entityname="nasscom" meta.hostid="261" meta.entityid="nasscom">Nasscom</keyword> and Boston Consulting Group (<keyword id="20058186" type="General" weightage="20" keywordseo="BCG" source="keywords">BCG</keyword>) has revealed that while 90% of women in India's tech industry view Generative AI (GenAI) as crucial for career growth, only one-third feel adequately prepared to use these technologies. Hence, even though women view GenAI as a crucial step in their professional journey, most of them still aren't confident using it. The report, titled "GenAI: The Diversity Game Changer We Can't Ignore," was unveiled at the nasscom Global Inclusion Summit in Bengaluru on August 8, 2024. The report highlights that women in both tech and non-tech roles exhibit high levels of professional ambition and are willing to put in extra effort to achieve success. This ambition is particularly pronounced in the AI/GenAI field, where women see mentorship as a key factor in their success. Currently, women make up 36% of India’s tech workforce but remain underrepresented in executive roles. GenAI, which involves advanced AI tools that can create new content, designs, and solutions, is seen as a game-changer for the tech industry. As GenAI is expected to dominate 33% of the global AI landscape by 2027, the market is projected to reach $320-380 billion. This rapid growth presents a unique opportunity for fostering gender diversity by helping women overcome traditional barriers and excel in their careers. The report reveals that women are ready to invest more time to achieve professional success in GenAI. According to the survey findings, 95% of junior, 96% of mid-management, and 100% of senior management women are prepared to put in extra effort. Women also view GenAI tools as a significant boost to their perceived competence, with 45% of <keyword id="20599228" type="General" weightage="100" keywordseo="women-in-tech" source="keywords">women in tech</keyword> roles feeling more confident compared to their non-tech peers. <h2>Challenges in GenAI adoption</h2>Despite the enthusiasm, many women at senior management levels face challenges in adopting GenAI tools. These challenges include limited knowledge, lack of trust, restricted access to these tools, and fear of competence scrutiny. Knowledge gaps are the primary barrier, cited by women across all levels from entry roles to the C-suite. Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at nasscom, talked about the importance of addressing these challenges: “Despite significant progress in diversity and AI/GenAI adoption, substantial gaps still limit women's full potential in the tech industry. With GenAI set to dominate the tech industry, it is critical to address key challenges such as knowledge gaps and lack of support, to empower women, particularly in these roles.” Meanwhile, Sreyssha George, Managing Director and Partner, Boston Consulting Group said, "Globally, senior women lead in GenAI adoption, yet India lags with a 64% gender disparity in AI leadership. To capture the USD 320 billion AI market, India’s tech sector needs diversity. This will ensure effective systems by eliminating biases and incorporating varying ethical perspectives. Let's seize this significant opportunity to rectify the gender imbalance in the tech industry." SEE ALSO: <a href="https://www.businessinsider.in/tech/ai/news/when-ai-hallucinates-heres-why-googles-ai-overview-is-generating-nonsensical-and-inaccurate-results/articleshow/110435437.cms" data-type="tilCustomLink" target="_blank">When AI ‘hallucinates’: Here’s why Google’s AI Overview appears to be generating inaccurate results</a> <a href="https://www.businessinsider.in/tech/news/indian-economy-could-get-usd-675-billion-due-to-ai-by-2038-study-shows/articleshow/112343290.cms" data-type="tilCustomLink" target="_blank">Indian economy could get USD 675 billion due to AI by 2038, study shows</a> <a href="https://www.businessinsider.in/author_articles_all.cms?query=479266566&amp;author=divyanshi%20sharma=&amp;page=1" class="artishow_author"></a> <a href="https://www.businessinsider.in/author_articles_all.cms?query=479265001&amp;author=kunal%20kambli=&amp;page=1" class="artishow_author"></a>

Most women in tech feel GenAI can help them grow in their careers but don't know how to use it, Nasscom-BCG reports

Fewer <keyword id="21932926" type="General" weightage="20" keywordseo="flexible-work-options" source="keywords">flexible work options</keyword>, <keyword id="19901232" type="General" weightage="100" keywordseo="work-life-balance" source="keywords">work-life balance</keyword> and <keyword id="20237287" type="General" weightage="20" keywordseo="family-responsibilities" source="keywords">family responsibilities</keyword> pose substantial challenges for <keyword id="19900675" type="General" weightage="20" keywordseo="women" source="keywords">women</keyword> trying to re-enter the workforce and are the main reasons for quitting their jobs, according to a report. A survey by <keyword id="20120149" type="General" weightage="20" keywordseo="naukri-com" source="keywords">Naukri.com</keyword> has revealed that work-life balance poses a significant concern, as 39 % of the women respondents cited it as a key reason for leaving their jobs. "These issues pose substantial challenges for women trying to re-enter the workforce, with 41 % identifying a lack of flexible work options and 35 % highlighting family responsibilities as significant barriers to continuing with their jobs," the report said. The report is based on a survey conducted by online recruitment company Naukri.com among job seekers registered on its platform. The report found that 73% of women interviewed said <keyword id="20028277" type="General" weightage="20" keywordseo="equal-opportunities" source="keywords">equal opportunities</keyword> exist for both men and women in employment and leadership positions, and 79% of men agreed that both genders get equal chances at workplaces. Despite a majority of respondents viewing that workplaces offer equal opportunities to both genders, the report revealed that 24 % of women felt men have better growth prospects compared to only 8 % of men holding the same view. On the other hand, 13% of men interviewed said women have better opportunities at the workplace, however, only 3% of women shared this opinion. "Our report highlights an encouraging trend towards <keyword id="20250318" type="General" weightage="20" keywordseo="gender-equality" source="keywords">gender equality</keyword> in the workplace, with 73 % of women recognising that equal opportunities do exist today. "It also reveals lingering challenges in areas of work-life balance and career advancement, underscoring the need for strategic interventions by industry to ensure continued progress," Naukri.com Chief Business Officer Pawan Goyal told PTI. Even the <keyword id="19898698" type="General" weightage="20" keywordseo="gender-pay-gap" source="keywords">gender pay gap</keyword> remains an area of concern, with 31 % of women perceiving unequal compensation relative to 16 % of men. It also found that 53 % of respondents said that salary compensation is entirely equal for both genders in the same role.

Work-life balance, fewer flexible work options pose challenge for women at job front, says new report

<ul class="summary-list"><li>Declining workforce participation among younger men could weigh on the US economy for years.</li><li>The trend could be a drag on economic growth, housing, and Social Security funds, experts say.</li></ul>America's job market is <a target="_blank" href="https://www.businessinsider.com/employment-young-men-labor-force-jobs-unemployment-insurance-hiring-2024-5#:~:text=America's%20young%20men%20aren't,was%20often%20closer%20to%2095%25.">mysteriously short of young men</a>.It's a trend experts say will drag on the economy and could take years to fix, mainly because men have already been dropping out of the workforce for decades.According to Carol Graham, a senior fellow of economic studies at the Brookings Institute, the labor force participation rate of prime working-age men has been <a target="_blank" href="https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4">declining over the last twenty years</a>. Today, 11% of men aged 25-54 <a target="_blank" href="https://www.businessinsider.com/young-men-working-less-no-college-degree-student-loan-debt-2024-5">don't have a job and aren't looking for one</a>, more than triple the percentage recorded in 1955, when just 3% were out of the workforce, according to data from the Bureau of Labor Statistics.That amounts to around 7.2 million prime working-age <a target="_blank" href="https://www.businessinsider.com/employment-young-men-labor-force-jobs-unemployment-insurance-hiring-2024-5">men who aren't working</a>. That's introduced a host of problems for the economy, leaving key industries understaffed, and adding to the strain on government services and social safety nets, Graham and other experts told Business Insider."Some of them drop out [of college] and are just sort of forlorn and have no purpose or meaning in life. They're not very likely to be married. They're very likely to be living in their parent's basement," Graham said. "They're lonely, they're isolated."The economic burden can also compound through generations, she added, given that men who have exited the workforce tend to be lower-income and are more likely to report <a target="_blank" href="https://www.businessinsider.com/disconnected-youth-a-tale-of-2-gen-zs-in-america-2024-4">mental and physical health problems</a>, which impact their children's ability to build wealth.Zack Mabel, a research professor at Georgetown University, theorizes that falling labor force participation among young men could impact the economy for at least several decades."At this point, it's a long trend over the course of multiple decades that does not appear to be improving, and could have real long-term consequences," he said.<h3 id="21b7ceb6-5c10-4411-8bf5-94b94fe51a82">Straining the economy</h3>The economy appears to already be feeling the <a target="_blank" href="https://www.businessinsider.com/young-men-work-less-financially-independent-salary-marriageability-2023-6">decline in male workforce participation</a>. Despite a small post-pandemic rebound, US GDP per employee fell 1% in 2022, the first decline seen since the <a target="_blank" href="https://data.worldbank.org/indicator/SL.GDP.PCAP.EM.KD?locations=US">World Bank</a> began recording productivity data over 30 years ago.The overall labor force participation rate, meanwhile, has slumped to 62%. Besides the years following the pandemic, US workforce participation rate hasn't been that low since the 70s, <a target="_blank" href="https://data.worldbank.org/indicator/SL.TLF.CACT.NE.ZS?locations=US">World Bank data</a> shows.The trend could weigh on key industries, like infrastructure and <a target="_blank" href="https://www.businessinsider.com/us-is-experiencing-factory-boom-but-finding-workers-is-difficult-2023-7">manufacturing</a>, where women are often less likely to seek work due to social stigma, Mabel said. That means it could be hard for those industries to find workers, which is a big problem considering the need for labor in growing areas like <a target="_blank" href="https://www.businessinsider.com/semiconductor-chips-jobs-hiring-arizona-tech-phoenix-tsmc-intel-china-2024-1">semiconductors</a>, he added."In a situation where you have millions of men … foregoing college, and as a result are less productive and less able to hold onto a stable job, yes, that certainly would raise concerns our national productivity would suffer as a result," Mabel said.And while the housing market may be booming now, it is also possible that men leaving the labor force will weigh on that market as well. Meredith Whitney, a longtime Wall Street forecaster, predicts home prices could drop as much as 30% over a period of years thanks to men working less, being less interested in starting families, and being more likely to live with their parents.Those trends all weigh on household formation, which is the most important factor in determining home prices over the long term, Whitney said.42% of men who have exited the workforce <a target="_blank" href="https://www.brookings.edu/wp-content/uploads/2017/08/es_81717who_is_out_of_the_labor_force_analysis.pdf">live with at least one parent</a>, a 2017 Brookings study found."This is such a seismic shift in the social structure," she told BI. "It's hard to say how long it lasts."Government benefits are also hugely taxed by men who are not in the workforce.Men who have dropped out of the workforce, for one, are significantly more likely to suffer from opioid addiction, Graham said. 44% of men who were out of the workforce said <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6364990/">they needed to take pain medication</a> — more than double the portion recorded in employed men, where just 20% took pain meds, a separate Brookings study found.57% of men not looking for work said they had a physical, mental, or behavioral reason, according to a survey conducted by <a target="_blank" href="https://bipartisanpolicy.org/report/bpc-artemis-survey/">BPC-Artemis</a>.11% of men who have exited the labor force rely entirely on government welfare programs for income, according to Brookings data."They cost the health system. They go to the emergency room and they're sick, they're not going to be able to pay the bills," Graham said. "That's coming out of somewhere."The welfare burden is exacerbated by the fact that unemployed men aren't contributing to benefit programs such as through Social Security taxes."Potentially, more and more people would benefit and depend on resources that we don't actually have the means to provide ... And that then would really present itself as a huge societal conundrum," Mabel warned.There's no clear answer for how to get young men back into the workforce. The causes appear to be <a target="_blank" href="https://www.businessinsider.com/employment-young-men-labor-force-jobs-unemployment-insurance-hiring-2024-5#:~:text=And%2052%25%20of%20men%2016,enough%20to%20draw%20them%20in.">multifold</a> — disabilities, incarceration, and wages not being enticing enough, to name a few —but possible solutions could lie in helping train men for the jobs that are available, according to Graham, or finding ways to give young men role models, such as by hiring more male teachers, Mabel said."There's clearly an economic cost for more than one generation if the trends continue," Graham told BI. "There are lots of ways it costs society in addition to their individual human lives."

A shortage of young men in the workforce could weigh on housing, Social Security, and growth for years to come 

<ul class="summary-list"><li>Russia's defense industry is short some tens of thousands of skilled laborers.</li><li>Traditional gender roles limit women's participation in crucial jobs there, a report says.</li></ul>Russia's defense manufacturing sector is short some tens of thousands of skilled laborers — and its hard stance on traditional roles for women could be part of it, according to new reports.Two years into its war in Ukraine, Russia is ramping up its military with a record <a target="_blank" class="" href="https://www.theguardian.com/world/2024/sep/30/russias-defence-spending-to-rise-by-25-next-year-the-highest-since-the-cold-war">40% of its overall budget</a> now devoted to defense. It also plans to expand its number of <a target="_blank" class="" href="https://www.businessinsider.com/putin-orders-russia-army-expand-experts-cannot-do-this-forever-2024-9">active soldiers to 1.5 million</a>.That requires vast amounts of military equipment, and the infrastructure to support it.And that, in turn, requires workers, which Russia is currently struggling to find.In January, Russian President Vladimir Putin boasted that "over half a million jobs were created in the defense sector over the last year and a half alone," <a target="_blank" class="" href="https://tass.com/defense/1740983">according to Russian state-owned news agency TASS</a>.Yet, while the jobs may be there, the workers aren't.<a target="_blank" class="" href="https://www.bbc.com/russian/articles/cd6qndy200xo">An analysis published this week by BBC Russia</a> found that in the space of a single month this summer, some 90,000 defense industry-related job postings had appeared, with wages much higher than average salaries.The BBC said there were some 18,600 vacancies for operators of computer numerically controlled machines, or CNCs, which are used for shaping materials and are in wide demand in manufacturing. But just 600 resumes had come in for those roles, the outlet reported.Some of the postings had stood unfilled for months, it added.Researcher Dara Massicot, who focuses on defense and security issues in Russia and Eurasia at the Carnegie Endowment for International Peace, highlighted labor shortage issues in <a target="_blank" class="" href="https://carnegieendowment.org/research/2024/09/russian-military-reconstitution-2030-pathways-and-prospects?lang=en">a recent paper</a> on how Russia is reconstituting its military.Workers who would normally plug the gap — such as migrants, students, and prisoners — are now being used as combatants to fight in Ukraine, she wrote."According to conservative estimates, wartime emigration and military mobilization have cost the workforce about 600,000 working-age males," Massicot said.Russia does have one largely untapped source of labor for the defense industry: women. But here it finds itself in a bind.Since the 1970s, women in Russia have been barred from a raft of professions that are crucial to the defense sector, for fear of harming their fertility or a pregnancy, according to Massicot."Women are prohibited from certain occupations deemed physically dangerous," she wrote, giving examples such as those that deal with hazardous chemicals or heavy metals, which rules out many defense industry jobs.Women are also barred from jobs like mining, heavy lifting, operating heavy machinery, most metallurgy, and handling various chemicals, she added.By contrast, 5% of US welders are female, <a target="_blank" class="" href="https://weldingworkforcedata.com/">according to the American Welding Society</a> — a small proportion of the workforce that still amounts to tens of thousands of available workers."Russia would rather import foreign labor and use convicts than change the labor code (from the 1970s) to allow Russian women into certain types of jobs," Massicot <a target="_blank" class="" href="https://x.com/MassDara/status/1841921332230967464">wrote on X this week</a>.But Russia is in <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-population-decline-worker-shortage-growth-outlook-ukraine-war-2024-8">a demographic spiral</a>, which pre-dates COVID and the mass mobilization for the war in Ukraine.At the end of 2023, Russia was short a record 5 million workers across all sectors, according to an estimate from the Russian Academy of Science's Institute of Economics, <a target="_blank" class="" href="https://www.reuters.com/world/europe/russia-short-around-48-million-workers-2023-crunch-persist-izvestia-2023-12-24/">Reuters reported at the time</a>.The decline in Russia's labor force is forecast to continue until 2040, Massicot wrote.Meanwhile, Russia <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/russia-economy-ukraine-war-moscow-military-spending-currency-inflation-budget-2024-9">is now leaning on the war to keep its economy from collapsing</a>, putting more pressure on its labor force. Economists say the war is the only thing keeping Russia from <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/russia-economy-ukraine-war-moscow-military-spending-currency-inflation-budget-2024-9">entering an immediate recession</a>.Yet Russia appears to be focusing on longer-term solutions to its demographic issues, with a strong turn toward traditional roles for women.Putin recently reminisced about a time when women "had seven or eight children, and maybe even more," adding that "large families should be the norm," <a target="_blank" class="" href="https://english.elpais.com/international/2023-12-08/abortion-restrictions-and-discouragement-of-female-university-students-moscow-wants-russian-women-to-focus-on-childbearing.html">El País reported</a>.Last summer, Russia's Minister of Health Mikhail Murashko proposed policy tweaks that would reduce women's access to abortion, saying that there is a "vicious practice" of prioritizing a woman's career before children, per El País.This would make bringing women into defense manufacturing a hard cultural and political pivot, <a target="_blank" class="" href="https://x.com/MassDara/status/1841922270962364867">Massicot said on X</a>.

Russia's defense industry has a massive labor shortage. Rules on what jobs women can do are part of the issue.

<ul><li>B Com, MBA and B Pharm graduates are found to be most employable, according to the Wheebox <keyword id="6224961" type="General" weightage="20" keywordseo="india-skills-report" source="Orion">India Skills Report</keyword> 2023 report. </li><li>In 2023, most of the hiring is likely to happen in automotive, engineering and internet businesses. </li><li>Percentage of the employable women workforce increased to 52.8%, compared to 47.2% for men.</li></ul>The employability of Indians has gone up in the last one year according to The Wheebox India Skills Report. As per its evaluation, half of the candidates – at 50.3% were found to be employable as compared to the 46.2% last year. This report is a result of the evaluation of 3.75 lakh candidates or freshers who took the Wheebox National Employability Test (WNET) across India and the participation of 150 corporations from over 15 different industries in the Early Career Edition of the India Hiring Intent Survey. Piyush Nangru, co-founder and COO, Sunstone said the gap between skills that graduates have and industry-required skills continues to persist. “There is an urgent need across the country for multiple stakeholders to remedy the industry and higher education gap,” he said. Amongst the domains, B Com, MBA and B Pharm graduates are found to be most employable. Whereas, Polytechnic and MCA graduates were the least employable. “Improving employability through higher education remains a challenge and can be attributed to many factors.The post-Covid era further requires realignment of the higher education curriculum, up-skilling practices, and training techniques,” Nangru said. Among cities, Mumbai has the highest overall employment percentage of candidates, followed by Lucknow and Mangalore. The Wheebox India Skills Report 2023 was compiled by trade bodies, companies, educational institutions and more like – CII, AICTE, AIU, Sunstone, Pearson, AWS, Economic Times and Taggd. <cmsannotation type="cmsannotation" annotationid="Women more employable than men" comment="subhead" text="Women more employable than men">Women more employable than men</cmsannotation> It is interesting to note that the percentage of the employable women workforce stands at 52.8%, compared to 47.2% for men. “The consistent rise in women’s employability over the past ten years is a positive sign of radical changes in India’s developing labour market. Increased participation of women at work will give industries an edge with key roles already being occupied by women as we go into 2023,” the report said. Currently, the share of women in India’s workforce at 33% — is much less than that of males at 67%. Whereas, in countries like South America, Asia, and Africa, women account for 36% of the workforce. Rajasthan has the most percentage of employable females who are prepared for the workforce (53.5%) while Uttar Pradesh stands second with 46.5%. “If India aspires to become a global leader in providing skilled talent, then it is recommended that more policy-level changes are needed to increase workforce participation both in the private sector as well as the government sector,” the report added. <cmsannotation type="cmsannotation" annotationid="Sectors that will hire the most" comment="subhead" text="Sectors that will hire the most">Sectors that will hire the most</cmsannotation> This year, the demand for skilled labour was driven by the BFSI, pharmaceutical, e-commerce, and IT sectors. The report says that the hiring of freshers in these industries is projected to increase by 20% in 2023 compared to 2022. As many as 36.08% of companies surveyed said that they intend to hire. The report predicts that, in 2023, sectors like automotive, engineering and <keyword id="35619" type="General" weightage="20" keywordseo="internet-business" source="Orion">internet business</keyword> will see the most hiring. Uttar Pradesh, Maharashtra and Delhi are likely to have the most employable talent in 2023, as per its forecast. According to the <a href="https://unemploymentinindia.cmie.com/">Centre for Monitoring Indian Economy latest data</a>, the unemployment rate of India rose to 8% in November this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-snaps-two-day-losing-streak-jumps-403-points/articleshow/96200366.cms">Sensex snaps two-day losing streak, jumps 403 points</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mutual-funds-plunge-sharply-in-november-mfs-trim-holdings-in-icici-bank-hcl-tech-kotak-mahindra-bank/articleshow/96200043.cms">Inflows into equity mutual funds plunge sharply in November; MFs trim holdings in ICICI Bank, HCL Tech, Kotak Mahindra Bank</a>

There are more employable women than men in India: Wheebox India Skills Report

<ul><li>Despite a 52% decrease in demand compared to the previous year, e-commerce retained its position as the second-largest employer. </li><li>Women's average monthly salaries were 20.5% lower than the industry average, except in manufacturing, logistics and mobility</li><li>Youth participation in employment declined by 8%, indicating a decrease in the number of young individuals entering the <keyword id="52626" type="General" weightage="20" keywordseo="workforce" source="Orion">workforce</keyword>. </li></ul>In the financial year 2022, i.e. the period between April 01, 2021, to March 31, 2022, there was a significant surge in demand for frontline workers as the economy reopened. However, the growth momentum slowed down in the financial year gone by (FY2023) due to macroeconomic challenges. According to the Frontline Index Report by BetterPlace, the total demand for <keyword id="15003035" type="General" weightage="20" keywordseo="frontline-jobs" source="Orion">frontline jobs</keyword> decreased by 17.5%. In FY 2023, India saw the creation of 6.6 million frontline jobs, down from the 8 million jobs created in fiscal before that. This report is based on data collected by the BetterPlace platform and analysed a sample of over 3 million data points, providing insights into various aspects of the frontline workforce in India, including <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword>, demand, attrition, migration, salary trends, and upskilling patterns. <cmsannotation type="cmsannotation" annotationid="E-commerce remains second largest employer" comment="Subhead" text="E-commerce remains second largest employer">E-commerce remains second largest employer</cmsannotation> In FY 2023, logistics and mobility took the lead as the primary employment sector for frontline workers, surpassing e-commerce in demand. This marked a significant shift, with logistics and mobility experiencing a 111% surge in total demand from FY 2022 to FY 2023. Meanwhile, IFM&amp;IT (information, financial services, marketing, and information technology) emerged as the fastest-growing industry, with a 139% increase in demand for frontline roles during the same period. Despite a 52% decrease in demand compared to the previous year, e-commerce retained its position as the second-largest employer, accounting for 33% of all jobs in the sector. <cmsannotation type="cmsannotation" annotationid="Participation of women doubles" comment="Subhead" text="Participation of women doubles">Participation of women doubles</cmsannotation> The participation of women in the workforce increased from 3% to 6% between FY22 and FY23, driven largely by changing family perceptions, with 88% of women feeling supported to work. However, women's average monthly salaries were 20.5% lower than the industry average, except in manufacturing and logistics and mobility, where they earned 36% and 20% more, respectively. Despite declining industry demand, e-commerce saw a 36% increase in demand for women frontline workers. Additionally, women frontline workers spanned various age groups, with 44% aged 20-30 and 37% aged 30-40. <cmsannotation type="cmsannotation" annotationid="Youth participation in employment decreases" comment="Subhead" text="Youth participation in employment decreases">Youth participation in employment decreases</cmsannotation> Over the transition from FY22 to FY23, there was a shift in the composition of the workforce. Youth participation in employment declined by 8%, indicating a decrease in the number of young individuals entering the workforce during this period. Conversely, there was a 25% increase in the participation of workers aged 30-40. Furthermore, it's worth noting that a majority, specifically more than 80%, of frontline workers exhibit a satisfactory level of education. Many of them have completed either their high school diploma or even pursued higher education, such as graduating from college or university. <cmsannotation type="cmsannotation" annotationid="Employees focus on upskilling" comment="Subhead" text="Employees focus on upskilling">Employees focus on upskilling</cmsannotation> In FY 2022, sign-ups for upskilling courses saw a 194% growth, which continued into FY 2023. The lower intent to hire in enterprises led to a an increase in the time employees spent on learning, up by more than 165% between April 2022 and March 2023. Furthermore, the Government's commitment to skill development during the budget season resulted in numerous enterprises investing in employee upskilling.

Job creation falls, so does youth participation

<ul class="summary-list"><li>Tesla removed language around its minority workers and employee groups in a recent legal filing.</li><li>The carmaker ditched the references shortly after <a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> spoke out against DEI.</li></ul><a target="_blank" href="https://www.businessinsider.com/tesla-history-founders">Tesla</a> ditched a reference to its "majority-minority workforce" in its latest regulatory filing.The EV maker removed the following line in its annual <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1318605/000162828024002390/tsla-20231231.htm">10-K filing</a>, which was published on Friday: "With a majority-minority workforce, empowering our employee resource groups to take charge in driving initiatives that attract, develop and retain our passionate workforce is vital to our continued success."Bloomberg was the first to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-29/tesla-drops-minority-worker-language-after-musk-s-dei-rants?srnd=premium">report</a> on the omission. Tesla's recent filing excludes any mention of promoting diversity in the company's hiring practices. In 2022, the filing said the company aimed to "attract a pool of diverse and exceptional candidates." It continued: "We also believe that our ability to retain our workforce is dependent on our ability to foster an environment that is sustainably safe, respectful, fair and inclusive of everyone and promotes diversity, equity and inclusion inside and outside of our business."The 2022 filing also cited outreach to Historically Black Colleges and Universities and Hispanic Serving Institutions to sponsoring employee resource groups across numerous locations, including Asian Pacific Islanders at Tesla, Black at Tesla, Intersectionality, Latinos at Tesla, LGBTQ at Tesla, Veterans at Tesla, and Women in Tesla.It added: "We engage these networks as key business resources and sources of actionable feedback. We are also working on diversity efforts in our supply chain to expand our outreach and support to small- and large-scale suppliers from underrepresented communities to emphasize this culture with our own employees."While the latest filing makes no references to efforts to hire a diverse workforce, the carmaker noted that its HR policies do not tolerate harassment or discrimination, including over race and sexual orientation.Tesla's decision to omit any references to minority workers and employee resource groups comes only a few weeks after its CEO took to social media to <a target="_blank" href="https://www.businessinsider.com/bill-ackman-elon-musk-dont-want-dei-diversity-equity-inclusion-2024-1">criticize</a> DEI.Earlier this month, Elon Musk said on X that DEI was "just another word for racism" as he <a target="_blank" href="https://www.businessinsider.com/elon-musk-duking-it-out-mark-cuban-dei-and-racism-2024-1">sparred with billionaire Mark Cuban</a> over such initiatives."DEI must DIE," Musk <a target="_blank" href="https://twitter.com/elonmusk/status/1735568882499211557?lang=en">wrote</a> on X last month. "The point was to end discrimination, not replace it with different discrimination."A spokesperson for Tesla did not respond to a request for comment.While Tesla has appeared to promote DEI in the past, it's also been battling <a target="_blank" href="https://www.businessinsider.com/tesla-lawsuits-former-workers-claim-racial-discrimination-sexual-harassment-2022-3">accusations of racism and sexism</a>. Last year, the US Equal Employment Opportunity Commission <a target="_blank" href="https://www.businessinsider.com/tesla-rights-agencies-turf-war-racial-discrimination-claims-dfeh-eeoc-2022-4">sued Tesla</a> over allegations of racism at the carmaker's Fremont factory. In 2022, a California civil rights regulator <a target="_blank" href="https://www.businessinsider.com/california-regulator-sues-tesla-racial-discrimination-claims-2022-2">sued Tesla</a> claiming that it had received "hundreds of complaints from Black workers regarding racial discrimination and harassment at the Fremont factory.At the time, Tesla<a target="_blank" rel=" nofollow" href="https://www.tesla.com/blog/dfehs-misguided-lawsuit"> called</a> the California lawsuit an attack against "the last remaining automobile manufacturer in California" and said it disciplined employees who engaged in harassment or discrimination.In 2022, the carmaker also highlighted Tesla's DEI team, along with a <a target="_blank" href="https://digitalassets.tesla.com/tesla-contents/image/upload/2020-DEI-impact-report">report</a> from 2020 that showed underrepresented communities made up about 60% of the company's workforce. Since then Tesla has yet to publish any more recent stats regarding demographics at the company.Do you work for Tesla or have insight to share? Reach out to the reporter from a non-work email and device at gkay@insider.com

Tesla ditched language saying it was 'a majority-minority workforce' after Elon Musk said 'DEI must die'

<ul class="summary-list"><li>A Gen Xer became a stay-at-home dad in the mid-2000s after being laid off from his job. </li><li>After getting divorced a few years ago, he realized he'd eventually need to return to the workforce.</li></ul>In the mid-2000s, Dan was let go from his job at a financial firm. He's been <a target="_blank" href="https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4">out of the workforce</a> ever since.At first, he was OK with the change, the New Yorker who's in his 40s told Business Insider via email. He and his wife decided that he would <a target="_blank" href="https://www.businessinsider.com/become-stay-at-home-dad-help-men-feel-happy-fulfilled-2023-8">care for their children</a> full-time while she pursued her career.But after being a <a target="_blank" href="https://www.businessinsider.com/mom-provider-stay-at-home-dad-husband-kids-2024-1">stay-at-home dad</a> for over a decade, Dan and his wife got divorced a few years ago. While he received an "enviable" settlement that's helped him pay the bills, he said this money will eventually begin to run dry."I'm hoping my cash lasts three more years at least," said Dan, whose identity is known to BI, but he asked to use a pseudonym to maintain privacy for his family. He said he could try to stretch the money out as long as possible, but that this would require a steady reduction in his "quality of life."So after nearly 20 years out of the workforce, Dan has started to dip his toe into the job market. But it's been quite discouraging so far."When I review job sites, I'm underqualified for jobs that I used to do, and I most likely present as too old for entry-level positions," he said. "I'm embarrassed to even attempt to update my résumé or even bother applying to a job with my gap in work history and skills."While the male unemployment rate is <a target="_blank" href="https://fred.stlouisfed.org/series/LNU04000061">low</a> compared to past decades, Dan is among the American men who are <a target="_blank" href="https://www.businessinsider.com/millennial-cant-get-hired-bachelors-degree-men-cant-find-jobs-2024-5">struggling to find a job</a> — or have stopped looking entirely. In 1950, roughly 97% of American men ages 25 to 54 had a job or were actively looking for work, according to the Bureau of Labor Statistics. As of April, this figure had fallen to about 89%.There are several potential explanations for this decline, including the rising number of <a target="_blank" href="https://www.businessinsider.com/millennial-cant-get-hired-remote-jobs-tech-sales-layoffs-health-2024-5">men with disabilities</a>, higher incarceration rates, and worsening <a target="_blank" href="https://www.businessinsider.com/young-men-working-less-no-college-degree-student-loan-debt-2024-5">employment and earnings prospects</a> for people without a college degree. The <a target="_blank" href="https://www.businessinsider.com/men-are-dropping-out-workforce-be-stay-at-home-dads-2022-12">rising number</a> of stay-at-home dads is arguably a more positive explanation, but in Dan's case, this created an employment gap that could make his return to the workforce more challenging. The <a target="_blank" href="https://www.businessinsider.com/women-pay-gap-motherhood-fatherhood-nobel-prize-harvard-economist-2023-10">career consequences</a> of childcare-related résumé gaps are something women have dealt with for decades.Dan shared how he's going about his job search, what opportunities he's considering, and why it might be a while before he's able to return to work.<h2 id="04ac2919-d544-4d2a-a606-95a363de826b">Taking an entry-level job and moving to a less expensive area might be his best option</h2>While he's not actively applying for jobs, Dan said he's been consistently reviewing job listings to figure out whether he's a good fit anywhere."I will absolutely reenter the workforce — it's just a question of whether it's something close to what I aspired to post-graduation in my early 20s or like a Walmart greeter or janitor or something in between," he said.He's not sure how helpful his college degree from over 20 years ago — which was "in the arts" — will be in his search, and he has little desire to pursue graduate school. He said he'd be open to teaching and hospitality jobs, <a target="_blank" href="https://www.businessinsider.com/mistakes-to-avoid-state-national-parks-from-former-park-ranger">working at a national park</a>, or any type of office role."I'm not committed to any direction yet, but I'm not getting any younger," he said. "I'm resigned to ultimately taking an entry-level job if they'll have me."Dan said he'd been advised to pursue an entry-level job at <a target="_blank" href="https://www.businessinsider.com/home-depot-typical-customer-demographics-shopper-profile">Home Depot</a> or <a target="_blank" href="https://www.businessinsider.com/is-costco-membership-worth-it-for-one-person-2024-5">Costco</a>, in part so he could receive health benefits. He also thinks it would be wise for him to move to a more affordable region of the country to reduce his living expenses.A path that checks both these boxes might end up being the most practical, he said. But there's another obstacle in his job search, one that might make it difficult for him to move or commit to a significant work schedule for at least a few years.Even though his ex-wife has custody of the children, Dan said he's the "full-time dad" when she has work commitments like a business trip. He also helps with day-to-day responsibilities like school drop-off and pickup."I will probably wait until my kids graduate from high school and then I will move to somewhere cheaper to live and take the best job available to me," he said, adding that this is expected to happen over the next few years.In the meantime, Dan's trying not to get too pessimistic about his future career outlook."Most people identify you by your job," he said. "I don't want to be identified as someone who hasn't had a career during his adult life."Are you a man who's not looking for work or has struggled to find a job? Are you willing to share your story? If so, reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

A former stay-at-home dad says he's struggling to find a job after his nearly 20-year break from the workforce:  'I'm underqualified for jobs that I used to do'

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