When Vice President Harris described the mass exodus of women leaving the labor force as a “national emergency,” she was absolutely correct. The U.S. regressed to 1988 levels in terms of women’s labor force participation, meaning we’ve lost 32 years of progress toward gender equity in the labor markets—all in a span of 11 months.
Gender inequity drains the economy
Women’s plummeting participation in the labor market is a national emergency because it’s a massive drain on our economy. Since 1970, women have added $2 trillion to the US economy through their increased labor force participation.
Pre-pandemic, we could have strengthened our economy by an additional $789 billion and $512 billion through closing the labor force participation and gender pay gaps, respectively. We’ve lost those opportunities plus approximately $1.4 trillion in labor force advancements in one year. That’s a $2.7 trillion loss for one country in a single…