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Women will make up the majority of the U.S. workforce sometime in 2012. Although much of the growth is attributed to the creation of many low-paying jobs, women are making big gains in many typically male-dominated lines of work. For example, women hold 52% of all managerial and professional jobs, compared with 26% in 1980. They comprise 60% of all accountants, 32% of physicians and 31.5% of lawyers.
The wage gap is shrinking as well. Working women now earn 77% of what men earn, vs. 60% in 1980. The difference is sure to continue to narrow. A key reason for the trend: More education. Over the past few years, women have earned 60% of all bachelor's and master's degrees awarded in the U.S. Moreover, 48% of medical school grads and 47% of law school grads are female. Men, meanwhile, are far likelier to leave school early and thus lag in job skills.
Similar trends are occurring in Vermont. Low-paying jobs including cashiers, salespersons, and waiters have the highest amount of job openings in the state. College enrollment rates indicate similar higher education trends as well. The gender breakdown at the University of Vermont is comprised of 57% female students.
The impact of women-run small business is significant upon the economy. Women-owned firms have been growing at twice the rate of businesses, currently owning 28% of privately-held U.S. organizations; these businesses contribute $2.8 trillion to the economy. Without these women-run businesses, an additional 16% of the labor market would be unemployed.
For more information about 2012 Vermont workforce trends, visit the Vermont Department of Human Resources.
Information used in this article was derived from the following sources:
Vermont Department of Labor
Woman's Support Network
National Women's Business Council |