Janet Yellen

For a number of reasons, I’ve been thinking about Sri Lanka’s unusually low female participation in the labor force. As is common among policy people, I was emphasizing the benefits for households from having multiple incomes and to various sectors from having less constraints on labor inputs. Here, Janet Yellen talks about the macro-economic benefits directly: The sweeping movement of women from the home to the workplace during the mid-20th century, she said, was a “major factor in America’s prosperity.” But that progress has stalled in recent decades, leaving women less likely than men to hold paying jobs. Bringing more women into the work force with policies like expanding the availability of paid leave, affordable childcare and flexible work schedules, she said, could help to lift the American economy from a long stretch of slow growth.