Question

Explain why 1970, the la.bor force participation rate for women has increased from 43.3% in 1970 to 56.9% in 2018. During the same period, real GDP increased from $4.715 trillion to $17.286 trillion.

Answer 1

Women’s increased labor force involvement signifies the transformation in the US economy. Nearly six out of ten of the United States women labor separately away from their homes.

Women work force is reasonably high when compared to men. Virginia has recorded to be the state with the lowest women labor work force in the nation. Women labor force participation has been increased in the District of Columbia.

Black women who are aged above sixteen are considered to be the large population of women labor force participation. Women who are in their crucial working years constitute the major labor force in United States.

Answer 2

Answer and Explanation:

One of the main reasons the participation rate for women has increased from 43.3% in 1970 to 56.9% in 2018 is that social and cultural norms that used to limit women to the main activity of taking care of children and the house have changed, discriminatory laws and practices are changing, women have been fighting for their rights to employment opportunities. And the research has proved that this has a positive outcome in real GDP. This is because when women are included in the labor market in a country, the amount of people working increases and so does the production. In other words, the country in which a larger share of people are working will produce more output per person. Then, as countries increase the presence of women in their workforces, the potential to increase economic output is bigger.