CED Report: Boosting Women's Labor Force Participation by One Percent Would Generate an Additional $72.8 Billion of Income for Women
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Tuesday, May 31, 2022
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NEW YORK, May 31, 2022 /PRNewswire/ -- Increasing women's labor force participation rate by even one percent would dramatically increase economic opportunities for women—and yield additional growth and prosperity for the United States more broadly. For women alone, a one percent increase would translate into an additional $72.8 billion in income, according to a new report produced by the Committee for Economic Development, the public policy center of The Conference Board (CED). But as the report points out, the ability to access paid child care is one of the main barriers to participating in the labor force—and for those important economic benefits to be realized.
Key Points:
- The new report drills into decades of the Census Bureau's Current Population Survey estimates and determines factors affecting labor force participation.
- "The labor force participation rate for women and men has been declining over timea trend that the pandemic has only exacerbated," said Dr. Lori Esposito Murray, President of CED.
- Key insights from the new report include:
A one percent increase in the labor force participation of women ages 18-54 would produce multiple economic benefits. - Overall male and female labor force participation: Overall male and female labor force attachment rates are also interrelated with the share of children in paid care.