Told you are about to meet the CEO of a major corporation, do you imagine someone in a skirt? According to a recent Washington Post article, the answer from most people is “No”. To individuals saying we have entered “the age of women,” because of Elena Kagan and more females in the U.S. work force, this journalist instead looked at “the areas where the real money and power reside.” For example, at Google and Amazon, the top paying hedge funds, and the major banks, males dominate top management. Her conclusion? She suggests that for women to claim economic power, they have to focus on amassing their own capital.
Looking further at gender equality in OECD Nations, 2006 median income statistics indicate that women earn 18% less than men. In Japan and Korea, the gap is close to 30%, in Poland, New Zealand, and Belgium, at 10%, the gap is much less, and for the U.S. the difference is 19%. Correspondingly, women hold only 1/3 of all management positions.
The Economic Lesson
In the U.S., to be defined as a part of the labor force, a person has to be 16 or older and employed or unemployed but looking for a job. With 154 million people in the U.S. labor force, women total approximately 72 million.