ALL THAT NOW ON MATTER OF FACT. A SLATE OF NEW STUDIES CAUGHT OUR ATTENTION THIS WEEK, PUT TOGETHER, THEY PAINT A PICTURE OF WHAT THE ECONOMY LOOKS LIKE RIGHT NOW FOR WOMEN. TAKE THIS REPORT BY THE HAMILTON PROJECT. IT FOUND THAT WOMEN BETWEEN THE AGES OF 25 AND 54 ARE PART DISSIPATING IN THE WORKFORCE AT THE HIGHEST LEVEL EVER. AND MOTHERS WITH KIDS UNDER FIVE ARE LEADING THE WAY WITH ABOUT 70% OF THEM NOW IN THE LABOR FORCE. BUT THERE ARE CHALLENGES THAT WOMEN CONTINUE TO FACE. A RECENT STUDY FOUND THE POVERTY RATE FOR FAMILIES HEADED BY A SINGLE WOMAN MORE THAN DOUBLED BETWEEN 2021 AND 2022. THE LARGER SINGLE YEAR INCREASE EVER RECORDED. SO WHAT’S HAPPENING HERE? BETSEY STEVENSON IS A PROFESSOR OF ECONOMICS AT THE UNIVERSITY OF MICHIGAN AND WAS A CHIEF ECONOMIST AT THE DEPARTMENT OF LABOR DURING THE OBAMA ADMINISTRATION. DR. BETSEY STEVENSON, THANK YOU SO MUCH FOR JOINING ME. SO THE PANDEMIC OBVIOUSLY TOOK A MAJOR HIT ON WOMEN HAVE WOMEN BOUNCED BACK FROM THAT TIME? AS OF NOW? YOU KNOW, THIS WAS OUR FIRST RECESSION WHERE OUR WOMEN LOST MORE JOBS THAN MEN, BUT THEY ACTUALLY COME BACK EVEN STRONGER IN TERMS OF THEIR LABOR FORCE PARTICIPATION. SO FOR PRIME AGE WOMEN, MEANING SORT OF WORKING AGE WOMEN, THEY ARE IN THE LABOR FORCE AT A HIGHER RATES THAN THEY WERE PRIOR TO THE PANDEMIC PICK. ONE OF THE THINGS THAT CAME OUT OF THE PANDEMIC, OF COURSE, WAS FLEXIBLE. IF YOU’RE LOOKING SPECIFICALLY AT CHILDCARE AND I’M CURIOUS IF WE HAVE FOUND THAT THERE’S A GREAT UPSIDE TO THE FLEXIBILITY OR IF THERE’S A GREAT DOWNSIDE TO THAT FLEXIBILITY FOR WOMEN, THAT FLEXIBILITY, I THINK HAS BEEN TREMENDOUS FOR THE US ECONOMY. THE SURPRISING THING IS WE DON’T HAVE AS MANY CHILDCARE WORKERS TODAY AS WE HAD PRIOR TO THE PANDEMIC. SO CHILDCARE IS NOT FULLY RECOVERED. THE THE THE LONG STANDING PROBLEMS OF CHILDCARE BEING SIMPLY NOT AFFORDABLE HAVE NOT BEEN ADDRESSED. THOSE ARE STILL PROBLEMS IN OUR ECONOMY. THEY’RE PROBLEMS FOR WORKING PARENTS. BUT THEY DID GET A BOOST FROM THE FLEXIBILITY THAT CAME FROM THE PANDEMIC. AND THAT’S THAT’S WHY YOU’VE SEEN SO MANY PEOPLE ARE RELUCTANT TO GIVE THAT FLEXIBILITY BACK. WHERE ARE WE RIGHT NOW WITH REMOTE WORK AND WHAT’S BEEN THE IMPACT SPECIFICALLY ON WOMEN WHO’VE CHOSEN TO BE REMOTE IN SURVEY AFTER SURVEY, WOMEN ARE WILLING TO GIVE UP MORE IN TERMS OF WAGES IN ORDER TO GET WORKPLACE FLEXIBILITY IN ORDER TO BE ABLE TO DO SOME REMOTE WORK. AND THAT DOESN’T NECESSARILY MEAN BEING HOME 100% OF THE TIME, BUT I SEE THIS AS A GLASS HALF FULL SITUATION IRRGATION, WHICH IS NOW WE HAVE MORE JOBS THAT OFFER FLEXIBILITY. WOMEN WILL HOPEFULLY BE GIVING UP LESS TO GET FLEXIBILITY. BUT I THINK AT THE END OF THE DAY, WHAT WE REALLY NEED IS MEN TO VALUE FLEXIBILITY AS MUCH AS WOMEN SO THAT IT DOESN’T CONTRIBUTE TO THE GENDER WAGE GAP. IF I MADE YOU COME UP WITH A VERY SHORT LIST OF POLICIES THAT YOU THINK ARE IMPORTANT, CRITICAL FOR WORKING WOMEN, WHAT WOULD YOU WHAT ARE THE TOP THREE THINGS YOU’D HAVE ON THAT LIST IF YOU PUT TOGETHER PAID LEAVE WORKPLACE FLEXIBILITY AND AFFORDABLE CHILDCARE? YEAH, I MEAN, I THINK WE COULD SEE A SURGE IN FEMALE LABOR FORCE PARTICIPATION. THERE HAVE GOT TO BE PEOPLE MAYBE WATCHING THIS WHO SAY, LISTEN, YOU KNOW, ALL OF THOSE THINGS ARE GREAT, BUT UTTERLY IRRELEVANT TO ME. WHY DOES IT OR DOES IT EVEN MATTER TO THE OTHER PARTS OF THE ECONOMY THAT AREN’T ABOUT WORKING WOMEN? IT’S 2023. AND LET’S BE HONEST, WOMEN HAVE BEEN THE MAJORITY. OF COLLEGE STUDENTS ON COLLEGE CAMPUSES NOW FOR 30 YEARS. THE MAJORITY OF STUDENTS IN GRADUATE PROGRAMS. THEY ARE THE MAJORITY OF OUR WORKERS WITH HIGHER EDUCATION. THEY’RE THE MAJORITY OF OUR SKILLED WORKERS. AND RIGHT NOW THEY’RE HOLDING NEARLY HALF OF THE JOBS WE CAN’T JUST IGNORE HALF OF THE LABOR FORCE. THAT IS BEEN AN IMPORTANT CONTRIBUTOR TO US. ECONOMIC GROWTH OVER THE LAST 50 YEARS. IS THIS EXPANSION OF WOMEN’S SKILLS AND THEIR TALENTS AND THEIR PARTICIPATION IN THE LABOR FORCE. IF WE ARE TO LOSE THAT. ST THE WHOLE ECONOMY STARTS TO SHRINK AND WOULD CERTAINLY SLOW GROWTH. DR. BETSEY STEVENSON SO NICE TO