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 year, owing to the pandemic’s scarring effects on gender equity.