Women are the hidden ocean of talent in this world. When a woman becomes educated and self-reliant, she not only benefits her family, but also benefits her children and husband’s family as well as her community and the entire country.
Whether it is the right to vote or currently account for up to 54% of the US work force, women have come a long way. And the struggle of women continues even today. Women have played an important role in making America’s economy strong. Now is the time for women to break China’s record as well.
In China, the participation of women in the labor force was 73 points 2 percent in 1990. Whereas it has come down to 60.5 percent in 2019. American women can easily break this record and American women are only a few steps behind this record.
If women become financially self-reliant, then they will have control over their economic resources and decisions related to them. Which will benefit them and their community. With this women will not be dependent on others, on their husband or on their family. They will have their own income. And along with this, the economic status of women will also increase.
According to a report, countries are losing $160 trillion in wealth due to gender inequality. If women participate equally in the labor force. So the per capita income and GDP of the country becomes double. Which are most important for any country. If any country has become developed, then the role of women has been important in it.
Women play a very important role in economic development. Therefore, it is most important that to empower women, they should be given maximum education and financial opportunities. So that they can do good to their family and community. Along with this, to empower women, opportunities should be given in education, health and labor market.
Economic participation of women can not only achieve the goal of social justice, but it also eliminates poverty. Along with this, if the woman is educated and working woman, then the family health and fertility rate is also very low. Which helps a lot in controlling the population. That is, if the woman has an economic participation and is educated along with it, then it is easier to achieve the goal of sustainable development.
If a country works on the empowerment of women, then it will be easy to see the impact of women in areas like Education, Health, Wage Labour, Financial Services, Agriculture, Natural Resource Management etc.
Often women are disqualified for working. Therefore, the economic engagement of women is less in developing and under-developed countries. While the economic participation of women is higher in developed countries than in developing and under-developed countries. There are many reasons behind the low economic engagement of women. There are many barriers to employment such as not getting fair treatment, not educating them or not getting approval of their husbands for employment, legal hurdles etc. All countries need to act on these.
Women in USA Economy
Unless women participate in the labor market, the US Economy will not grow to its full potential. The participation of women in the labor force has decreased in the last few decades. There are many reasons behind this. But the main reason is that America has not yet made any national policy on paid leave for women. When women give birth to a child, when they take leave, they do not get pad leave. They have to choose between child care and paid employment.
According to data provided by the USA Bureau of Labor Statistics, the number of women receiving higher levels of education has increased between 1970 and 2022. Simultaneously, the number of women seeking college degrees has also increased. The women who have become mothers, their participation in the level force has also increased.
Entrepreneurship is very important for any country without this no country can become developed. Women entrepreneurship is growing at a very fast pace. And women are putting a lot of emphasis on innovation and job creation. Which in the end is very important for economic growth. But at the same time when women start a new startup. So there are many obstacles in their way, one of them being the lack of equal access to capital. Along with this, women do not get proper access to market, market information, digital services, network etc.
America’s Initiative
America is committed to increasing the economic participation of women. America is promoting women entrepreneurship through the We-Fi scheme. Under this scheme, $50 million and $354 million are provided for women entrepreneurship in collaboration with international partners. This initiative was taken at the G20 Summit. In this, the private sector invests in women’s business.
One such is the Women and Girls Empowered Scheme. This initiative has been taken to empower women financially. The main goal of this initiative is to make civil society strong enough to support the economic empowerment of women. Along with this, women have to be provided with all kinds of resources, so that they can participate in the global economy and get engaged in collaborative research