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 majority of Americans support higher pay for auto workers who are on strike against Detroit's Big Three carmakers, although approval of the workers' other demands is more mixed, according to a poll from The Associated Press-NORC Center for Public Affairs Research.
The ongoing United Auto Workers strike expanded Thursday in a major blow to Ford as the union ordered 8700 workers to walk off the job at the automaker giant's largest plant.
A retired bank official testified that former president Donald Trump obtained hundreds of millions of dollars in loans based on financial statements that have since been deemed fraudulent.
