Here we are in 2020, 100 years after women earned the right to vote. A lot has changed since then. For starters, you’re on your computer reading a blog. The word “blog” wasn’t even adopted into the English language until the 1990s, an abbreviation from “weblog.” Anyway, women are a much more equal member of society today than they ever have been. That does not mean that we have achieved ultimate success, we still have a long way to go. But we are making progress. One place that we see these improvements is in the workforce.
What’s the state of women in the workforce today?
Forbes did some digging into the U.S. Government’s December Job Report and found that women are now the majority of the workforce! They beat out men by a mere .08% which doesn’t sound like much but equals 109,000 jobs. Apparently, it’s becoming less and less common to be a “stay-at-home” mom. That could have something to do with the high cost of living. In many communities, families struggle to live on a single salary. A more positive viewpoint is that it has resulted from more equal rights for women. It turns out both contribute to the current trend.
There are other shifts that explain the tendency. Previously, many male-dominated jobs were very industrial. While we still have plenty of industrial work, we are moving into a more automated world meaning there are fewer industrial jobs in the country. At the same time industries that employ more women such as healthcare are expanding.
Think its only men in finance? Men only hold 44% of jobs related to finance while women come in at 56%!
In a report conducted by McKinsey that relies on data from 2015-2019, more women sit at the C-Suite (the highest level in a company). Their representation in the C-Suite rose from 17% in 2015 to 21% today. After women become managers, they have the opportunity to climb the ladder. However, McKinsey notes that companies are preventing women from stepping up to manager. There are many women that are getting stuck at the lower levels of the company, preventing their promotion. They notice that 28% more men are promoted to manager than women.
So, while we have made significant progress, we do need to continue our efforts to promote diversity in the workforce and to create a more supportive environment for all employees to thrive.
What’s your experience as a woman in the workforce? What is your company doing to increase gender diversity? What would you like to see improve in 2020? Share it with us!