Not since Rosie the Riveter rolled up her sleeves in the armaments factories and shipbuilding yards during WWII has there been such a fundamental shift in gender roles and earning power. As Canada’s economy coughs, sputters and chugs back to life, there are signs that some dramatic societal changes have taken place behind the scenes while we were all distracted by the recession. The new reality facing us is that more women than ever before are taking on the role of primary breadwinner.

The recent recession, labeled the “man-cession”, has been particularly cruel to working-class males. Statistics Canada reports that over the previous year a total of 249,000 men lost their jobs, particularly in the manufacturing sector. This compares to a decline of 28,000 for women. Even the rise of dual-income families has meant an erosion of the male’s economic power and control. (In 1980, 53% of couples were dual earners, compared to 65% by 2007.) This new domestic reality also parallels another emerging trend that sees women controlling more and more of the nation’s wealth – up to a startling 70% by 2019.

Seldom, if ever, has history recorded such a dramatic and unprecedented upheaval in the age-old standard of the man “bringing home the bacon” and the woman taking care of the house and kids, and maybe earning some supplementary income on the side. For many men this is a humbling even humiliating experience. For women, this role reversal can be just as emotionally challenging and psychologically threatening. She has not only lost her Prince Charming – the one person who was supposed to protect and defend and provide “forever after”, but there is increasing financial pressure and stress on her as well. And those kids still have to be fed, clothed and educated.

I take all of these social changes rather personally. My husband was also one of the casualties of the recession. He was co-owner of a small investor relations firm that specialized in the resource field, another sector that was also hard hit by the economic downturn. Trying to turn a crisis into an opportunity, he went back to his first love of copywriting and teaching history (waynemelvin.ca), which I fully supported. But I gotta say – the bucks are skinner and there’s now more pressure on my income to make ends meet. I’m ok with this – sorta, kinda, maybe….

I’m sure family counselors and economic advisors across Canada are struggling to make sense of this rapidly changing economic and social landscape. But maybe all this change isn’t such a bad thing — for both men and women – and for Canadian society as a whole. Sure we will have some major adjusting to do and it’s not likely to be easy. Nevertheless, there are great new opportunities out there that we can take advantage of as the new paradigm reveals itself. Creative work. More balanced, supportive and healthier relationships. A revisiting of priorities, dreams and financial goals. A new vision of how men and women interact in the workplace – and at home. Welcome to the new world order. We’d better get used to it – it’s here to stay. – Karin Mizgala

Karin Mizgala is a Vancouver-based fee-only financial planner with an MBA and a degree in psychology. She’s the President of LifeDesign Financial and co-founder of the Women’s Financial Learning Centre.