Over the past 60 years, women have played an essentail part in the growth of the workforce and the economy as a whole. In fact, women hold the majority of jobs for the first time in over a decade at 50.4% according to the U.S. Bureau of Labor Statistics.
With that being said, here is a list of 5 interesting (and totatlly awesome!) facts about women in the workforce.
1. More than 11.6 million businesses are owned by women.
What would life be like without Spanx, Flikr, or Rent The Runway? You’ve got a few stellar women entrepreneurs to thank for that: women-owned businesses have skyrocked in the past few years, and the numbers just keep growing! It’s estimated that 36% of all U.S. businesses are owned by women. You go, girl!
2. Women earn more bachelor’s degrees than men.
It’s no surprise that women outweigh men in graduate school 137 to 100 and have been for some time. In fact, women have been earning more bachelor’s degrees than men since 1982, more master’s degrees since 1987, and more doctorate degrees since 2006!
3. The labor force participation rate for women is declining.
Despite the growth in women-owned businesses, the overall participation rate for women in the workforce continues to decline. The women’s labor force participation rate skyrocketed in 1962 and continued to grow until the early 2000s when it suddenly stagnated and reversed. In addition, the lack of participation doesn’t have any effect on race or ethnic group or background.
4. Women-owned businesses employ over 8.4 million workers and generate $264 billion in payroll.
Whether it’s employing millions of people or generating some seriously huge piles of cash or fueling the economy, one thing is for sure: women entrepreneurs are the shining future of America. Also, I bet you didn’t know that 59% of women-owned businesses are owned by African American women!
5. 36% of all businesses are women-owned, and they account for 12% of all sales and 15% of employment.
Here’s another interesting statistic about women in the workforce (can you tell where I’m going with this?): 36% of ALL businesses are owned by women. That means about 1 out of every 3 business owners you’ve met or heard of is probably a woman. How cool is that?
In conclusion, women have played a crucial part in the workforce for the past half-century, and that fact remains the same! Whether she’s a doctor, a lawyer, or a dump truck driver, every woman has an essential role to fulfill in the workforce, and the future of America and the economy is up to her.