Progress and Problems: 6 Facts About Gender Parity

Recently, we looked at Japan’s Womenomics initiative.

Now, with 6 facts about gender parity, let’s take the next step.

6 Facts

1. Aggregate Labor Force Participation Rates

In developed economies, a growing number of women are in the labor force.

Because participation rates are about the number of people rather than aggregate hours, we are not told that more German women could be part timers. As a result, while the growth in U.S. women’s participation rates is less than others, total work hours could be more:

2. Reasons For Labor Force Participation Rates

But the reasons vary.

Rather than “one size fits all,” Italy and Japan illustrate the different phenomena that propelled women into the labor force. Whereas Italy’s demography changed the number of working age women, Japan’s older women were rejoining the labor force:

3. The Leaders and Laggards

In all prime age bands, the U.S. participation growth rate lags behind Europe and Japan:

4. Unpaid Work

Still, women work longer hours.

In most countries, more than men, women do the unpaid childcare and eldercare that become our second job:

5. Declining Pay Gaps

Everywhere, but by different amounts, the gender pay gap is smaller.

Sadly, in the U.S., since 2010/2011, for all pay levels, the gender wage gap has stagnated. And everywhere, it remains too large:

6. Leadership

We can end with some hope.

Although small, the proportion of female CEOs has grown:

Our Bottom Line: Production Possibilities Graphs

Whenever women in the labor force are constrained, everyone suffers from the decline in business activity. Summarized through a production possibilities graph, the curve illustrates the maximum capability of an economy using all existing land, labor, and capital. Then, through a dot inside the curve (with a vast menu of axes that we could have selected), we can show the underutilization created by the absence of gender parity:

My sources and more: Thanks to the Goldman Sachs Exchanges podcast on women for inspiring today’s post. From there, their 24 page report had lots more detail and all of today’s graphics. Please note also that today’s “Bottom Line” echoes past econlife posts.