Women have achieved a lot since they started working outside the home, and the number of women participating in the labor market keeps increasing, with periods of decline as well.
Data from the Bureau of Labor Statistics Employment Situation Report for October 2022 shows the labor participation rate for both men and women is 62.2%, while the employment-population ratio is 60.0%.
Specifically, the participation rate of women, ages 16 years and older in the labor market is 56.7%, while their employment-population ratio is 54.6%. On the other hand, women’s unemployment rate in October 2022 is 3.7%.
For more insight, let’s look at different sectors of women in the workforce by their level of education.
An analysis of government data by the Pew Research Center shows there are more women than men in the US college-educated workforce today. Just over 50% of American workers with a bacehlors’ degree or higher are women –, ages 25 years and older.
This is an increase in women’s representation in this sector of the llabor force since before the pandemic. Data shows that in the second quarter of 2022, 31.3 million college-educated women, 25 years old and above, particpated in the workforce, compared to 29.1 million in the same quarter of 2019.
This is in spite of the recession that was caused by the COVID-19 pandemic.
The same analysis by the Pew Research Center shows that 35.1% of women with an associate degree or with some college attendance, ages 25 years and older, actively participate in the workforce.
A McKinsey study found that women, especially women of color, are still largely underrepresented in corporate America. This is especially true of senior leadership roles – despite modest gains in the past eight years. According to the Women in the Workplace 2022 report, only only one in four C-suite leaders is a woman, and only one in 20 is a woman of color.
The 2022 McKinsey report noted that women are demanding more from their employers and willing to leave their current position to get it. With so few women represented in executive leadership roles, this creates a dilemma for companies who recognize the unique value of female talent.
Some of the reasons why women leaders seek better opportunities is because of suffering ‘microaggressions’ in the workplace – people questioning their judgement or mistaking them for “someone more junior” – something male counterparts may not experience.
It’s clear that progress still needs to be made for American women in the workforce, and DiversityWorking strives to be part of that progress by representing great opportunities from companies across different industries, companies that recognize the value of women in the workplace and actively seek their talent.
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