The Key to U.S. GDP Growth is Women, Says S&P Global Economists
It's no secret that the financial industry used to be dominated by men, but there are a few women who are breaking the mold and rising through the ranks. Beth Ann Bovino, S&P Global's Chief Economist, was with us to explain how important women are to not only the workforce, but the economy.
Bovino shares the keys for women to overcome obstacles and climb the corporate ladder. One of the biggest burdens women face, she said, is that they don't pursue opportunities because they are held back by the responsibility of childcare. Bovino said companies have been taking steps in the right direction with benefits such as paying for maternity leave and family care. She does think an area of improvement would be "flex time."
In her recent report titled "The Keys to Unlocking U.S. GDP Growth? Women," Bovino highlights the positive impact of female participation in the labor force. If the U.S. had a similar female workforce to Norway, for example, its economy would be $1.6 trillion larger than it is today, according to S&P Global economists.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
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