Women wield increasing power

Pasadena Star News

By: Cynthia Kurtz

Posted: 3/19/2014 

March is Women’s History Month. It is a time to reflect on the contributions women have made as well as how women’s roles have changed over time. This is a good opportunity to review how women’s roles in business have changed.

In 1970, women comprised 38 percent of the U.S. labor force. That percentage slowly increased until 2000. Today, women make up 46.8 percent of the labor force. That share has remained unchanged since 2000. While more women are joining the labor force - close to 73 million women work today compared to 66 million in 2000 - the number of men entering the workforce is increasing at a similar rate.

The age of women in the workforce has changed over time reflecting the change in attitudes about working and raising families. In 1970 one in four women between the ages of 16 and 24 were in the workforce. Between the ages of 25 to 44, only 18 percent of women remained in the workforce - the decrease in women working can be attributed to women leaving to raise their families. After age 45 there was a slight uptick in the percentage of women working as empty nesters returned to the work place.

In 2012, only 14 percent of the women between the ages of 16 and 24 had joined the labor force. After age 24, however, the percentage jumped to over 20 percent and has remained relatively stable until women reach the age of 55 and start to retire. 

We hear a lot about unemployment rates and how education and age effect the likelihood of being unemployed. There are also differences based on gender. From 1970 through the early 1980’s, women had a significantly higher unemployment rate than men. Around 1982 women closed the gap and through the rest of the 80’s, 90’s and early 2000’s the unemployment rates for men and women remained within a few tenths of a percent of each other.

When the recession hit in 2008, it was men who experienced the larger negative impact. By 2010 the unemployment rate for women was 8.6 percent compared to 10.5 percent for men. It appears the gap is closing again - in 2012 the unemployment rate for women was 7.9 percent and for men 8.2 percent.

Women are picking different careers that they did 25 years ago. While 47 percent of the labor force is female, according to the Catalyst Pyramid on U.S. Women in Business, 51.4 percent of management and professional occupations are held by women.

Today women make up almost 54 percent of pharmacists compared to less than one-third in 1985. Fifty-three percent of financial managers are women - up from 35 percent in 1985. The biggest change is the number of women who are choosing the law. Over 50 percent of lawyers today are women compared to 18 percent in 1985.

Equity has not reached executive offices and board rooms - only 14.6 percent of executive positions, 4.6 percent of CEOs and 16.9 percent of board seats are occupied by women. While the numbers have increased, change has been slow. Women still have a long way to go to be equally represented at the highest corporate levels. 

There is an old Chinese Proverb, “Women hold up half the sky.” Everyday women are proving that they are willing, able and ready to hold up their half of the sky.