US economy can be boosted by gender equality

US economy can be boosted by gender equality

Women will certainly need to explore more of full-time opportunities yielding higher returns in order to gain full economic advantage.

Posted:Apr 08,2016

 A research conducted by McKinsey Global Institute, the US economy could gain about $4.3 trillion by the end of 2025. This research even projected a fair share of the economic boost coming from female employees. Once the female employment ratio shoots up by 10%, the country’s economy will see a gain worth $2.1 trillion. When it comes to changes in terms of growth of GDP, increase in productivity and jobs, a human issue that keeps pressing is gender inequality.

Some 10 million new jobs are expected to be created by the end of 2025. In order to reach the target of $2.1 trillion, some 6.4 million fresh jobs will have to be created. An amount worth $475 billion needs to be invested by the local governments and businesses just to ensure a smooth progress of the US economy.

Although most jobs remain low paid within the US economy, the last few years have witnessed the creation of two million jobs within the US economy. The expensive business regulations are often criticized by those that are opposing equality programs enforced by the government.

More than 40% of our workforce is constituted by women employees. Women make up for a fifth of the GDP in US. Much of their current economic contribution can be boosted once they are trained and get promoted to management and leadership positions.

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