According to CNN, there are more single women in the workforce than ever, which will have a “profound effect” on the U.S. economy.
According to Morgan Stanley, by 2030, 45% of working women aged 25 to 44 will be single, up from 40%, whose research also shows that single women outspend married women.
Morgan Stanley expects “some sectors in particular” will benefit from more single women with money to spend on themselves, including “apparel and footwear, personal care, food, and luxury vehicles.” Lululemon and Nike are poised to do exceptionally well, as are Sephora and Ulta Beauty.
CNN’s report doesn’t identify any “losers” from the surge in single women, but the baby clothes and baby food sectors are sure to take a hit. Single women are perfectly capable of having babies outside marriage, but they tend to have fewer children overall than married women.
Children raised in single-parent homes are also more likely to have problems at school, less likely to graduate from high school and college, and less likely to be employed. So, not only will all the single working women mean fewer adults for the next generation, but it also means those adults who are produced won’t be as educated or productive as past generations raised by two parents.
Most working-age women want to get married. Perhaps instead of celebrating singleness, CNN and Morgan Stanley could ask why so many working women aren’t tying the knot.
