General statistics on women in the workforce

Let’s look at data on women in the workforce as a whole to help  understand what the current state of business looks like. From total labor population to the current state of the gender pay gap.

1. Just under 47% of workers in the United States are women.

2. 77.5% of women ages 25 to 54 are employed or actively seeking work — a new record since the federal government began tracking labor participation in the 1940s.

3. As of June 2023, the participation rate in the workforce for women between the ages of 25 and 54 set a record high for the third month in a row.

4. U.S. women earned about $0.82 for every dollar a man earned, as of 2022 data.  I’m still angry about this

5. Canada, China, the United Kingdom, and the United States have the highest percentages of women participating in the labor force.

6. More women are willing to negotiate for raises than men (31% vs. 29%).  I always thought this was reversed.

7. Women make up 29% of the manufacturing workforce, an all-time high.

Fempreneurs: stats on women small business owners

As it turns out, women are doing the most when it comes to opening up small businesses across the country. But that doesn’t mean women in entrepreneurship don’t face hardships. Check out the women-owned business statistics below.

8. Women own almost 10 million businesses in the U.S.

9. Women-owned businesses account for $1.4 trillion in receipts.

10. Women have created about half of all new businesses for the third year in a row since the COVID-19 pandemic.

11. 46% of American women entrepreneurs experienced gender bias when trying to raise capital.

12. Hawaii, Virginia, and Colorado have the most women-owned businesses (24.7%, 23.7%, and 22.2%, respectively).  Wonder why

Data on women founders, managers, and CEOs.

Women continue to break the glass ceiling and take on well-deserved roles like board director, manager, and CEO. Although there is still a lot of work that needs to be done to address gender disparity in top corporate positions (and even in the classroom  The following data shows that things are slowly moving in the right direction.

13. Women account for 52% of all management-related U.S. occupations in 2021.

14. 8.8% of the companies on Fortune 500’s 2022 list have women CEOs.  Not even 10%?  How sad!

15. Women represent 8.6% of all venture capitalists.  Again less than 10%

16. Worldwide, over 20% of board director seats are held by women, according to 2019 data.

17. For every 100 men promoted from entry-level to manager in 2023, 87 women were promoted.

18. From 1982 to 2022, women in managerial occupations has risen from 26% to 40%.

19. Women are most likely to be managers in the HR, Social Services, Education, and Food Service industries. Interesting, back to the jobs related caring for others. Why not finance? How many of our mothers managed the household expenses to the penny?

Facts and figures on minority women in business

Historically, minority women have faced the biggest hardships and had to overcome the biggest hurdles when it comes to making their mark in the business world. But the silver lining? They are more than up to the task. As you can see in the data below, this demographic is growing, and they aren’t afraid to speak up for what they deserve.

20. Hispanic women’s labor force participation rate has risen 2% from 2022 to 2023.

21. Black women’s labor force participation rate has risen 2% from 2022 to 2023.

22. Approximately 57% of Asian American women are engaged in the current labor force.

23. Women of color make up 10% of S&P 500 board directors.

24. 88% of women of color say they want to be promoted, compared to only 80% of white women.

25. 42% of newly created women-owned businesses have been started by Black women.

26. 31% of newly created women-owned businesses have been started by Latino women.

27. 38% of SBA’s Community Advantage Pilot Program loans went to Black-owned and Hispanic-owned businesses.

Mother of all businesses — how moms are tackling business

There is much room for improvement in how mothers are treated in the workplace. With sky-high costs of childcare and shrinking family leave benefits, it’s hard not to get discouraged. But never underestimate the power of a mom! The following data shows both the positives — and the negatives — of our current culture regarding working mothers. We should be ashamed

28. 70% of women with children under 18 are employed.

29. Over 75% of women with children under 18 are employed full-time.

30. Mothers are the primary breadwinner in 40% of American households.

31. 61% of women in the workforce believe that motherhood disrupts their ability to progress in their careers.  How unfair is this?  Women should not be denied because they have children. After all it takes 2 to create a child

32. Mothers aged 25 to 44 are less likely to be in the labor force than women of the same age who do not have children.

33. When it comes to women with similar levels of education, there is little gap in the earnings of mothers and non-mothers. Add that to the gap with men and mothers again come up short

34. Accessing and affording quality childcare is the number one reason women leave or change jobs.  What a major loss of skills when women are not supported and have to choose

35. Women own an estimated 90% of childcare businesses and more than half are owned by women of color.

Stats on the future of women in business

It’s clear to see in the statistics above that women are leading the pack when it comes to entrepreneurship, management, and overall small business ownership. But how will the labor market change for women when we look to the future? Interesting data

36. By the year 2031, women aged 25 to 31 joining the workforce will increase by 6%.

37. The Department of Labor projects that women aged 25 to 54 will add about 2.9 million more workers to the workforce over the next eight years.

38. In the age of automation, it’s estimated that 7% to 24% of women currently employed worldwide may need to transition across occupations. AI may replace many admin jobs that are primarily women

39. It’s estimated that 20% more job opportunities will be catered to women vs. 19% to men by 2030. I wonder what opportunities?

40. If female labor market participation in the U.S. grew to the levels seen in other developed economies, the economy could receive a $1 trillion boost over the next 10 years.

 Leadership Roles & Representation

Corporate Leadership

• Women hold about 29% of senior-level roles in S&P 500 companies, including around 8% CEO positions

• In Fortune 500 firms, 8.8% had female CEOs in 2022, and roughly 10.4% of CEOs across Fortune 500 in 2024 were women Yet 47% of the workforce is women

• On corporate boards, women make up around 28–30% of seats, with women of color approximately 7%

Entry to Manager Level

• Women account for 52% of all U.S. management occupations but only 40% of managerial roles in 2022

Race & Age Breakdown

• Women of color hold just 4% of C-suite roles in finance  Black and Hispanic women each launch about 42% and 31% respectively of new women-owned ventures

• Generation X dominates women small business ownership (~56%), followed by Boomers (~30%), with Millennials showing 36% higher success rates than male peers

 Entrepreneurial Prevalence & Small Business Ownership

• 42% of all U.S. businesses are women-owned (~13 million firms; $1.8–2.1 trillion in revenue)

• 31–39% of small business or franchise owners are women

• Women are launching ~1,800 new businesses per days Is this because we are not being hired in corporate in jobs that fit our skills?I

• Minority women’s business ownership is rapidly growing: Black women +33–50%, Hispanic and Asian ownership have doubled recently .

 Success Metrics: Women vs. Men

Performance

• Women-led companies outperform male-led ones: 10% higher revenues, 63% better performance, ROI 34–60% higher, depending on studies

• Female founders generate 2x more revenue per dollar of investment, and in one Reddit community: “Women-led companies perform 226% better than market average”

Survival & Exit Rates

• VC-backed startups led by women have a ~19.4% exit rate, higher than their male equivalents

Funding & Pay Gap

• Women retain 90% of income to reinvest in their own companies .

• Yet, women receive only 2–3% of all VC funding, are 42% less likely to get VC than men

• Only 25–34% of women seek external financing; 61% self-fund, compared to men who seek VC or loans more often women don’t have as many funding options

• In the first year, women-owned ventures typically earn ~34% less revenue than men’s is this because they don’t have the initial funding or support?

What can each of us do with all this information? Encourage woman to strive. Help them achieve and support their journey. Teach our daughters to decide on the lives they want and go after them and not let others deter them. Eliminate stereotypes. Imagine a workplace where everyone has opportunities to be the best performers and the impact on the business world