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Tucked away in the latest "Economic Report of the President" is a slew of statistics
describing the contribution women have made to the supercharged U.S. economy. The annual
report, released in mid-February by President Clinton's Council of Economic Advisers, says
that "the progress made by women in the paid labor market has been one of the most
important economic changes of the 20th century." A political statement? Not really, when
you consider the evidence presented in the 432-page report. "Clearly, this past century
has brought a number of amazing improvements in the quality of life and standard of living
for Americans," says Martin N. Baily, the council's chairman.
From 1950 to 1999, the percentage of women among U.S. architects nearly quadrupled, to 16%; the percentage of women economists nearly tripled, to 51% of the profession; the share of women pharmacists increased sixfold, to 49%; and the number of women lawyers went up sevenfold, to 29%. Women journalists now total 50% of the workforce, up from 38% in 1950.
According to the White House report, in 1999 about 60% of females 16 years of age and
older were in the workforce. That's up from about 20% at the turn of the 20th century. During the same time period, the labor-market participation rate for women 25 to 44 years of age -- the average child-bearing years -- rose from less than 20% to more than 75%.
A PRICE FOR PROGRESS.
As more women have entered the workforce, the ratio between what the average woman earns
and what the average man earns has narrowed, according to the report. In 1967, for example, the ratio of wages paid to full-time female workers, vs. those of male workers was about 60 cents to every dollar paid to men -- and that remained fairly constant throughout much of the '60s and '70s. By 1998, the ratio had shot up to 73 cents on the dollar. But what's behind the gap? About one-third of the disparity is due to differences in skills and experience, another third is attributed to the fact that men and women work in different industries, and the final third is unaccounted for, according to several studies cited in the report.
What's the main reason for women's greater presence in the workforce? Increased education and training, says the Presidential report. The study also cites new workforce opportunities for women, plus changes in family structure. There are more and more single women in the workplace, with just 56% of the adult population married today, compared with 68% in 1960, the report notes. Meanwhile, the percentage of working, married women making more than $20,000 a year (in
inflation-adjusted 1998 dollars) rose to 43% in 1998, from 14% in 1968.
There is a price to be paid for this progress. "Although the choice to enter the labor market results in more material goods for families, these benefits come at the expense of home time," the report says. In his 2001 budget, President Clinton proposes expanding coverage under the Family & Medical Leave Act to smaller businesses with as few as 25 employees. The current threshold is for companies with at least 50 employees. The law allows new parents to take up to 12 weeks of job-protected leave.
By Laura Cohn in Washington EDITED BY DOUGLAS HARBRECHT
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