DMCC announces Ambassadors of WDC’s System of Warranties

DMCC has announced that its Executive Chairman and Chief Executive Officer, Ahmed Bin Sulayem, and its Special Advisor - Precious Stones, Dr Martin Leake, have been appointed as ambassadors of the World Diamond Council’s (WDC) updated SoW initiative...

Today

WDC launchеd an upgraded and expanded System of Warranties

The World Diamond Council (WDC) has marked the 40th anniversary of the establishment by the United Nations of the International Day of Peace with the official public launch of its upgraded System of Warranties (SoW).

Today

Botswana Diamonds completes nine-hole drilling on Thorny River

Botswana Diamonds has completed its nine-hole drilling programme on the Thorny River property in South Africa. It said the objective of the hole drilling was to see if two kimberlite blows were one contiguous orebody, thus increasing the overall resource...

Today

Lifeline for small-scale chrome miners in Zim

Zimbabwe Zhongxin Smelting Company, a joint venture between a Chinese firm and the Zimbabwe Defence Forces, is constructing a $60 million smelting plant in Masvingo.

Today

Out of the deep blue: Buyers at Christie’s will have a chance to bid for Rolex Experimental Deep Sea Special N°1

Developed as a prototype for perfecting the Rolex diving watch concept, this Rolex Deep Sea Special N°1 was attached to the hull of Auguste Piccard’s bathyscaphe Trieste for the inaugural deep-sea trial to a depth of 3,150 meters in the Mediterranean...

Yesterday

Jewelers - Target Female Self-Purchasers

03 september 2009

The model family of the 1950s, Dad is the sole earner and Mom is at home cooking three hot meals a day, is hard to be found in the U.S. these days, according to a survey published by www.idexonline.com and dedicated to working women. In this multi-part series, we are looking at what this means for jewelers. The good news: more women than ever before work outside of the home and now have the discretionary income to buy jewelry for themselves. The opportunity: self-purchasers.

Prior to World War II, the woman’s place in American society was in the home. As factories geared up to make war commodities in the late 1930s, the only labor available was women, since men were being shipped overseas to fight the battle in the fields of Europe and beyond. The poster of the proverbial Rosie the Riveter said it all: a woman was as capable as a man of doing work that had previously been the exclusive domain of the male.

Since World War II, the percentage of women in the workforce has continued to rise. In the 1970s, less than 45 percent of all women were employed outside of the home; today, almost 60 percent of all women have a job outside of the home.

At the same time, the percentage of men in the American workforce has declined modestly, as more men have become “house husbands.”

Other facts about women in the labor force include the following:

The labor force participation rate – the percent of the gender that was working (or seeking employment) – was 59 percent for all females, it is even higher for mothers (“mothers” are defined as females with children). About 69 percent for married mothers and 77 percent for unmarried mothers (widowed, divorced, separated, or never married) are either in the workforce or are seeking a job outside of the home. This indicates that mothers – married or unmarried – are much more likely to be in the U.S. workforce than other females with no children.

The labor force participation rate for all mothers with children under 18 was 71 percent in 2007.

In 2007, the unemployment rate for working married mothers was about half – around 3 percent – of the total unemployment rate – about 6 percent – for all workers.

Dual Incomes Fuel Personal Income and Wealth Levels

Both the husband and the wife work in just over half of all married-couple families in the U.S. Thus, these dual income families have high levels of income, and often engage in significant discretionary spending. About 75 percent of all families in America are classified as “married couples.”

The man is the sole breadwinner in just under 20 percent of all families – and is the sole breadwinner in just 9.8 percent of all families with children under 18 living at home.

In households where both the husband and wife work, the level of discretionary income is much higher than in households were only one spouse works. Further, the aggregate amount of discretionary income in those households represents a dramatically larger market segment than any other market segment comprised of various numbers of wage earners in a household.

In a study by the Conference Board in 2006, research showed that the total after-tax income generated in households with both a husband and wife working was nearly $2.3 trillion, about 70 percent more than the aggregate after tax income generated in households with only one spouse working. The two-earner households had an aggregate of nearly $775 billion of discretionary income, more than double the aggregate amount of discretionary income in households with only one wage earner.