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Working women contributing to the economy

A recent study by the Centre for American Progress and Centre Economic Policy and Research explain the vital role played by women in improving the economy of a country.

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Working women contributing to the economy

The increase in number of working women in the past few decades doesn’t just indicate the social progress of a nation. A recent study by the Centre for American Progress and Centre Economic Policy and Research reveals the great impact working women have had on the economy of the nation.

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Over the past three decades, the percentage of working women has gone up from 28.6% to 40.7% and their working hours have increased from 960 hours to 1560 hours. Another pleasant change was also seen in the percentage of working mothers, which had gone up to 44.1% from 27.3%. Not only do these figures indicate a more liberated society and a healthier workspace environment; they also prove that families as separate units are getting richer.

 

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The statistics indicate that if there hadn’t been an increase in this number, the economy of the country would have been about 11% smaller, which means the country would’ve lost out on $1.7 trillion in output. To emphasize the role of working women in this case, the researchers compared the scenario in the US to the situation in Japan.

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Both countries are developed yet; Japan has failed to generate a good percentage of working women and has been under a slumped economic state since almost a generation. As a result, they have a wider pay gap. In comparison to the US, where the female employment rate is 14% lower than that of males, and Sweden where it is 5.6% less than that of males, in Japan, it is 25% lower.

 

In the US, a good percentage of working women has resulted in monetarily sound families and a larger economy on the whole. However, according to Economix, the study also states that the economy could further benefit more by initiating more women into working. Currently, around 1/3rd of all women in USA do not work and 1/4th of all mothers don’t either. The New York Times blog suggests a few policies that could initiate this- flexible working hours, mandatory paid family and medical leave and sick days that could be utilized for child care, amongst others.

 

ORIGINAL SOURCE: Economix

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http://economix.blogs.nytimes.com/2014/04/15/how-working-women-help-the-economy/?_php=true&_type=blogs&_r=0

 

 

 

 

 

 

working women study Centre Economic Policy and Research Centre for American Progress Women and the Economy
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