Make It Easier For Moms To Work And U.S. Economy Will Improve

Make It Easier For Moms To Work And U.S. Economy Will Improve The key to boosting Americas economy lies inpolicy changesthat enable more women to work, Janet Yellen,chair of the U.S. Federal Reserve System,saidin an atypically personal speech on Friday.While addressing students at Brown University as part of the 125 Years of Women at Brown conference, Yellen cited the rise of women in the workforce during the mid-20th century as a major factor in advancing Americas affluence. In more recent times, though, the rate of women joining, and thereby improving, the countrys workforce has dropped and a lack of mandatedpaid maternity leave, affordablechildcare, andflexible work schedulesis largely to blame, she asserted.Evidence suggests that many women remain unable to achieve their goals, Yellen said. If these obstacles persist, we will squander the fhigkeit of many of our citizens and incur a substantial loss to the productive capacity of our economy at a time when the aging of the popula tion and weak productivity growth are already weighing on economic growth.To better illustrate her point, Yellen referenced a range of statistics showcasing Americas female workforce stasis. Following World War II, about one-third of appropriately aged women held jobs outside the home by the early 1990s, this ratio had risen to about three-quarters of women.In the last 20 years, though, this percentage has changed very little, translating to a total drop-off in workforce growth. In April 2017, the number of women between the ages of 25 to 54 who were either working or looking for workstill stood at 75 percent. Meanwhile, the number of similarly aged men who were holding or seeking a job clocked in at88.6 percent more than 10 percent higher than women.If the rate of working women were to rise to the same level of working men, Americas annual economic output would stand to benefit by5 percent, Yellen said. But the only clear way of getting there, she reaffirmed, is by making jobs outs ide the home more accessible to women by mimicking some of Europes more mom-friendly work policies.Fairygodboss is committed to improving the workplace and lives of women.Join us by reviewing your employer