More Divorced Women Bouncing Back Financially after Divorce: Study

A new study sponsored by The Pew Charitable
Trust, a non- partisan charitable trust on a mission to “use the power
of knowledge to solve today’s most challenging problems,” has
highlighted some startling results with respect to gender and divorce:
women are faring better than ever before – and relatively much better
than men — when it comes to bouncing back after divorce and
recapturing lost income.

The study, entitled The Pew Economic Mobility Project, says
that 20% of divorced women will boost their income by at least 25% after
divorce – a surprising statistic that nearly doubles the rate in 11%
from the early/mid 1970s.

On the other hand, only 16% of divorced men should expect to
boost their income by at least 25% after divorce – a jump of only 2%
from the early/mid 1970s.

“This says a lot,” Carmen Wong Ulrich, a financial expert told CBS This Morning, “Because 20, 30 years ago, this absolutely was not the case.”

Wong Ulrich further noted that more education for women,
along with a closing wage gap between genders, were key factors driving
the post-divorce income trends.

However, those under the impression that divorce somehow
leads to an income windfall should think again. About 50% of men and
women, respectively, suffer financially after divorce.

For a snapshot of statistics published in the The Pew Economic Mobility Project, click here.