Abstract:

Based on the data from the China Family Panel Studies (CFPS) from 2014 to 2022, combined with other micro-data, this paper examines the differential effects of housing debt on the employment choices of males and females from the perspective of gender division of labor. The main findings are as follows: (1) Housing debt significantly increases female labor force participation, whereas it exerts no statistically significant effect on male labor force participation. Drawing on the gender division of labor theory, men, who are traditionally regarded as the primary breadwinners, tend to maintain stable engagement in the labor market. In contrast, women, who typically bear the primary responsibility for family caregiving, are more likely to enter or re-enter the labor force in response to the financial pressures associated with housing debt. (2) The positive effect of housing debt on labor force participation is most pronounced among married women, particularly those with access to intergenerational caregiving support. (3) Housing debt drives women to opt for flexible employment arrangements, such as self-employment and part-time work, in order to better balance work and family obligations, while men remain unaffected by such financial pressures in this regard. (4) Housing debt significantly increases work intensity among men, whereas women’s work intensity remains relatively stable; this discrepancy is primarily attributed to the constraints imposed by women’s caregiving responsibilities within the household. The research findings provide policy implications for advancing high-quality and full employment, refining real estate market regulation, and guiding households to maintain rational debt levels.

Key words: housing debt, employment choice, female labor force participation, gender division of labor, gender difference