The markets took a plunge over the past few days, fueled by fears of a recession. There are good reasons for women to be feeling bad about their workforce prospects.

Americans are still sour on the economy, and last Friday’s jobs report should give them much to be concerned about. Women, especially, stand to lose as Biden-Harris labor policies restrict their opportunities to craft the careers and lives they want.

Here are 7 takeaways from the July Jobs Report and other recent data:

  1. Unemployment for women continues to trend up, hitting 3.8%.
  2. Women’s unemployment rose to a level not seen since the end of 2021.
  3. Hispanic women’s unemployment spiked to 5.4% from 4.5% from the month prior.
  4. Wage growth slowed to its weakest annual rate since May 2021.
  5. Job openings fell in June to the second-lowest level since March 2021.
  6. New workers seeking unemployment benefits hit the highest point in a year.
  7. More women hold multiple jobs than men and that rate keeps climbing.

As I noted in a statement when the report came out: “We are turning back the clock on post-pandemic progress in the labor force…”

However, women and their households are in a less stable position than they were in 2021:

The inflation rate still exceeds pre-2021 levels, which means the Federal Reserve still hasn’t achieved its mission. Slowing wage growth spells trouble for Americans struggling with unaffordability due to rapidly rising housing costs, increased borrowing costs, and elevated inflation. American households, especially seniors and those from low income brackets, are reaching a breaking point. Savings are spent down, credit debt is rising, and delinquencies have hit a 12-year high.

Meanwhile, the Biden-Harris administration touts so much economic progress on inflation, neglecting to take responsibility for the massive federal spending and reduction on energy production that spiked prices in 2021 and beyond.

Increasingly, women are taking on multiple jobs and gig work to afford their quality of life. Unfortunately, the Biden-Harris administration has cracked down on self-employment, freelancing, and gig economy work through Labor Department regulations. New rules could lead to lost income, contracts, and businesses as they are enforced, leaving women who just want to work on their schedules out in the cold. 

Vice President Harris is now pitching women and the American people on her leadership and economic accomplishments. However, Americans are not feeling her message because the reality of their financial situations is growing worse, not better.

In a new NBC/YouGov poll, only a quarter of registered voters said they’d be better off financially under her leadership compared to about half who favor former President Trump.

Americans are not only sour on the economy and worried about the labor market, but they don’t have confidence in the Biden-Harris administration to get things back on track.

As the regulatory and spending policies of the Biden-Harris administration take effect on the economy, squeezing small businesses, burying large firms in red tape, and raising the costs of goods and services that get passed along to customers, expect the economy to get more turbulent.