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March 27, 2014

Yellen: Women made America’s economy great

“Federal Reserve Chair Janet Yellen said Tuesday that America’s economic progress over the past century has been fueled in large part by the advent of women in the workforce.”

“Yellen is the first female to lead the central bank in its 100-year history, and her speech marked one of the few times over her four-decade career that she has directly addressed the status of women in the workplace. She spoke at a celebration in honor of Women’s History Month on Capitol Hill hosted by House Democratic Leader Nancy Pelosi. Guests included Christine Lagarde, managing director of the International Monetary Fund, and California Rep. Maxine Waters.”

“‘It is no coincidence that America’s great success in the past century came as women steadily increased their participation in every aspect of society,’” Yellen said, according to prepared copy of her statement.”

“The growing number of women in the labor force, particularly after 1970, contributed to the growing wealth enjoyed by American households. Women accounted for about 47 percent of the labor force in 2012, but full-time working females still only make about 77 cents for every dollar men make. Yellen also acknowledged the glass ceiling many women face in government, business and academia — even in her own field of economics.”

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Read full Washington Post article here.

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