Tags: s&p | women | hire | economic | growth

S&P Economist Bovino: To Boost US Economic Growth, Hire More Women

Imageegami | Dreamstime.com

By    |   Monday, 22 January 2018 03:07 PM

S&P's Beth Ann Bovino predicts that hiring more women could give the economy a productivity boost and enable economic growth to truly flourish.

"We've seen a slowdown in women entering and being retained in workforce, and this productivity boost we could get from these women would give the U.S. a boost," Bovino, S&P Global's U.S. chief economist, recently told CNBC.

Bovino co-authored an S&P report that found female labor participation rates have been declining for decades.

"Probably the biggest burden is child care," Bovino told CNBC. While she credits men today with helping more, "women (still) do the lion's share of child care and elder care as well." Maternity and family leave also impacts the decision for women to rejoin the workforce, she added.

Bovino stated that "growth potential has been incredibly slow. While the GDP rate has averaged around 2.5 percent during the recovery, our potential growth outlook is down one percent. We expect only 1.8 percent growth."

For his part, President Donald Trump recently touted what he said was the "lowest female unemployment in 18 years!"

"Get out there now to celebrate the historic milestones and unprecedented economic success and wealth creation that has taken place over the last 12 months. Lowest female unemployment in 18 years!" he tweeted Saturday.

To be sure, joblessness among women was 3.7 percent in December, below the overall U.S. unemployment rate of 4.1 percent, according to the Labor Department.

Meanwhile, Fox News tweeted: "Since @POTUS took office, 863,000 new jobs were filled by women. Over half a million American women have entered the work force since he took over."

(Newsmax wire services contributed to this report).

© 2018 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
S&P's Beth Ann Bovino predicts that hiring more women could give the economy a productivity boost and enable economic growth to truly flourish.
s&p, women, hire, economic, growth
365
2018-07-22
Monday, 22 January 2018 03:07 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved