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Sunday, July 19, 2015

Women's Earned Income Growing Faster Than Men's

Women's Earned Income Growing Faster Than Men's
Harvard Business Review recently reported that women’s earned income is rising at a rate faster than men's, growing at 8.1 percent compared to 5.8 percent for men. They also have more purchasing power than men. Combined, this points out the fact that women are rising in power.

The tortoise and the hare?

One of Aesop's Fables is a well-known story called "The Tortoise and the Hare." It's a story about a race between a turtle and a rabbit. Although the much faster rabbit seems the logical winner, the turtle wins through slow and steady progress, while the rabbit loses due to his overconfidence. This story might very well be compared to the battle of the sexes in the workplace.

It might seem that women still have a long way to go, but it just seems that way. Their progress may seem slow, but they are progressing, and people are taking note. Consider these statistics.

  • Women control $20 trillion in annual consumer spending in the U.S.
  • At every level, women are graduating with degrees in higher education at an increasing rate that is surpassing men.
  • The number of women in the workplace is expected to grow from one billion to 1.2 billion in the next five years.
  • Income for women is growing faster than income for men, 8.1 percent compared to 5.8 percent for men.

Growing power

In an published in Forbes magazine, examples of women who made a difference pointed out clearly that women are growing in power by pursuing challenging careers in formerly male-dominated industries, speaking out on women's issues, and challenging men in the court systems. The point is that each woman's progress makes a difference and contributes toward the growing trend towards not only increasing economic power, but increasing power.

Read more by visiting www.forbes.com/sites/85broads/2013/08/26/the-power-of-just-one-woman/
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