Hybrid work boosts women’s workforce return in U.S.
NEW YORK, UNITED STATES — Recent data shows that women’s labor force participation in the United States has surpassed pre-pandemic levels, reaching 73% by the end of 2023, up from 70% in 2020.
The pandemic saw the departure of many women from their jobs due to increased domestic responsibilities, including childcare and eldercare.
But nowadays, the trend towards flexible work arrangements has been a key factor, according to a February report by Moody’s Analytics. Remote jobs offer a pathway to higher-income roles, especially for millennials balancing childcare costs and housing.
Countries like Australia, India, Japan, and the European Union are leading the charge in adopting flexible working schedules and increasing gig and freelance opportunities. This has helped narrow the gender labor force gap and added an estimated $1.5 trillion to global income.
“A silver lining of the havoc wreaked by the COVID-19 pandemic may be a permanent shift in attitudes towards working that paves the way for more women to actively engage with the labor market,” the report said.
Moody’s report saw an 11% increase in women in C-suite roles between 2015 and 2023. However, challenges such as inflation and childcare expenses pose ongoing risks to women’s labor force participation.
In the United Kingdom, Public First revealed that 58.7% of women were fully employed in 2023, from 56.5% in 2019.
The surge has been more apparent in sectors implementing hybrid work, such as finance and insurance (75% to 83%), and information and communication (79% to 83%).
