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The rise of the remote husband

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In costa mesa, a city in California’s wealthy, beachy Orange County, she is working her way up to becoming a partner in the local office of a major law firm; he is an executive at a tech startup based in the Bay Area, more than 400 miles away. In Cambridge, Massachusetts, he is writing code from their apartment just off-campus, while she attends her classes at Harvard Law School. She is an obstetrician, he works remotely for a tech company; she is an academic at an Ivy League university, he works for a crypto company. All over the country, among the well-heeled and well-educated, a new trend appears to be emerging. When the wives head out in the morning, to their offices, classrooms or hospitals, they are waving goodbye to their husbands, who remain at home.

This is hardly a gender-swapped 1950s revival. The men are still working, after all, not predominantly cooking, cleaning and caring for children. But it does reflect an underappreciated effect of the rise of remote work: the rise of the remote husband.

Men and women still specialise in different kinds of work. Jobs in industries like computer science and engineering are disproportionately performed by men. Teaching and nursing jobs are dominated by women. Professions like law and medicine may still employ more men than women, but the scales are tipping: more women than men are enrolled in law school and medical school. As such, among young couples, she is probably more likely to be going to be a lawyer or a doctor than he is.

Different occupations have also had to take different approaches to remote working. A minority of medical professionals may be able to work remotely, by taking telehealth jobs, but the vast majority have to treat their patients in person. Lawyers may be tied to a specific state or area by their licence and speciality. Meanwhile, the industries which reported the highest level of remote-work flexibility are coding and technology, architecture, engineering and business jobs. About half of people working in computer or mathematical jobs work remotely full-time.

The upshot is that, in aggregate, it is easier for men to work from wherever they please. A survey carried out by McKinsey, a consultancy, found that 38% of working men had the option to work remotely full-time, compared with 30% of women. Roughly half of women report being unable to work remotely at all, compared with 39% of men.

This may sound like yet another way in which women have ended up with the short end of the stick. But that view is myopic. Couples compromise in all kinds of ways for their lives to work together. If she is offered a big promotion, conditional on moving to Chicago, she may have to turn it down if his job is tied to New York. The geographical liberation of either partner makes it possible for the other to ascend the corporate ladder. The Costa Mesa couple picked that area because it was convenient for her job—and for access to their children’s grandparents, who now regularly entertain the little ones.

Claudia Goldin, a Nobel laureate, has written about how remote work may be a boon for women. Over the past 200 years women’s participation in the labour force has been highest when it has been possible to perform paid work from home. She has also found that gender wage gaps are tightest in fields where flexible working is the norm. But it is not only flexibility in the work that women do that may be to their advantage.

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Economics

Will Elon Musk’s cash splash pay off in Wisconsin?

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TO GET A sense of what the Republican Party thinks of the electoral value of Elon Musk, listen to what Brad Schimel, a conservative candidate for the Supreme Court of Wisconsin, has to say about the billionaire. At an event on March 29th at an airsoft range (a more serious version of paintball) just outside Kenosha, five speakers, including Mr Schimel, spoke for over an hour about the importance of the election to the Republican cause. Mr Musk’s political action committees (PACs) have poured over $20m into the race, far more than any other donor’s. But over the course of the event, his name came up precisely zero times.

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Economics

German inflation, March 2025

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Customers shop for fresh fruits and vegetables in a supermarket in Munich, Germany, on March 8, 2025.

Michael Nguyen | Nurphoto | Getty Images

German inflation came in at a lower-than-expected 2.3% in March, preliminary data from the country’s statistics office Destatis showed Monday.

It compares to February’s 2.6% print, which was revised lower from a preliminary reading, and a poll of Reuters economists who had been expecting inflation to come in at 2.4% The print is harmonized across the euro area for comparability. 

On a monthly basis, harmonized inflation rose 0.4%. Core inflation, which excludes food and energy costs, came in at 2.5%, below February’s 2.7% reading.

Meanwhile services inflation, which had long been sticky, also eased to 3.4% in March, from 3.8% in the previous month.

The data comes at a critical time for the German economy as U.S. President Donald Trump’s tariffs loom and fiscal and economic policy shifts at home could be imminent.

Trade is a key pillar for the German economy, making it more vulnerable to the uncertainty and quickly changing developments currently dominating global trade policy. A slew of levies from the U.S. are set to come into force this week, including 25% tariffs on imported cars — a sector that is key to Germany’s economy. The country’s political leaders and car industry heavyweights have slammed Trump’s plans.

Meanwhile Germany’s political parties are working to establish a new coalition government following the results of the February 2025 federal election. Negotiations are underway between the Christian Democratic Union, alongside its sister party the Christian Social Union, and the Social Democratic Union.

While various points of contention appear to remain between the parties, their talks have already yielded some results. Earlier this month, Germany’s lawmakers voted in favor of a major fiscal package, which included amendments to long-standing debt rules to allow for higher defense spending and a 500-billion-euro ($541 billion) infrastructure fund.

This is a breaking news story, please check back for updates.

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Economics

First-quarter GDP growth will be just 0.3% as tariffs stoke stagflation conditions, says CNBC survey

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U.S. President Donald Trump speaks to members of the media aboard Air Force One before landing in West Palm Beach, Florida, U.S., March 28, 2025. 

Kevin Lamarque | Reuters

Policy uncertainty and new sweeping tariffs from the Trump administration are combining to create a stagflationary outlook for the U.S. economy in the latest CNBC Rapid Update.

The Rapid Update, averaging forecasts from 14 economists for GDP and inflation, sees first quarter growth registering an anemic 0.3% compared with the 2.3% reported in the fourth quarter of 2024. It would be the weakest growth since 2022 as the economy emerged from the pandemic.

Core PCE inflation, meanwhile, the Fed’s preferred inflation indicator, will remain stuck at around 2.9% for most of the year before resuming its decline in the fourth quarter.

Behind the dour GDP forecasts is new evidence that the decline in consumer and business sentiment is showing up in real economic activity. The Commerce Department on Friday reported that real, or inflation-adjusted consumer spending in February rose just 0.1%, after a decline of -0.6% in January. Action Economics dropped its outlook for spending growth to just 0.2% in this quarter from 4% in the fourth quarter.

“Signs of slowing in hard activity data are becoming more convincing, following an earlier worsening in sentiment,” wrote Barclays over the weekend.

Another factor: a surge of imports (which subtract from GDP) that appear to have poured into the U.S. ahead of tariffs.

The good news is the import effect should abate and only two of the 12 economists surveyed see negative growth in Q1. None forecast consecutive quarters of economic contraction. Oxford Economics, which has the lowest Q1 estimate at -1.6%, expects a continued drag from imports but sees second quarter GDP rebounding to 1.9%, because those imports will eventually end up boosting growth when they are counted in inventory or sales measures.

Recession risks rising

On average, most economists forecast a gradual rebound, with second quarter GDP averaging 1.4%, third quarter at 1.6% and the final quarter of the year rising to 2%.

The danger is an economy with anemic growth of just 0.3% could easily slip into negative territory. And, with new tariffs set to come this week, not everyone is so sure about a rebound.

“While our baseline doesn’t show a decline in real GDP, given the mounting global trade war and DOGE cuts to jobs and funding, there is a good chance GDP will decline in the first and even the second quarters of this year,” said Mark Zandi of Moody’s Analytics. “And a recession will be likely if the president doesn’t begin backtracking on the tariffs by the third quarter.”

Moody’s looks for anemic Q1 growth of just 0.4% that rebounds to 1.6% by year end, which is still modestly below trend.

Stubborn inflation will complicate the Fed’s ability to respond to flagging growth. Core PCE is expected at 2.8% this quarter, rising to 3% next quarter and staying roughly at that level until in drops to 2.6% a year from now.

While the market looks to be banking on rate cuts, the Fed could find them difficult to justify until inflation begins falling more convincingly at the end of the year.

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