Janet Yellen, chair of the Federal Reserve, keeps a close eye on the United States economy. One of the concerns of the Federal Reserve since the Great Recession (officially 2007–2009) has been the sluggish rate of overall economic growth in the United States, which impacts the well-being of all of us. In a recent speech, reported by Binyamin Appelbaum of the New York Times, Chair Yellen said that policies making it easier for women to work could significantly improve the nation’s economic growth. She suggests three policy areas that would make it easier for women to participate in the labor market:
There was a lot of focus on a dearth of middle-class jobs for men in the United States during the recent presidential election. This discussion centered on the loss of good-paying manufacturing and mining jobs for men, which have been in decline since the 1960s due to automation and globalization. Not much attention has been paid, however, to the declining number of women in the US workforce. This trend is the opposite of trends in women’s employment in other industrialized countries. What explains this difference for women in the United States?