The rise of women's earning and purchasing power

The Harvard Business Review reported in The Female Economy that women’s employment income is rising at a faster rate than men’s income. Men’s income in America rose by 5.8% in the past year, while women’s income rose by 8.1%. While there is still, in some sectors, unequal pay for the same job, and limited women’s representation in the corporate boardroom, collectively women are progressing in the rate of increased total income from earnings (employed work).

Women are also graduating at American universities and higher education institutions at a higher rate than men. The number of women in the workplace is expected to grow in America, as well as globally. The global increase in women in the workplace is expected to rise from one bilion to 1.2 billion in the next five years.

Collectively, apart from earnings, women are also expected to inherit 70% of the intergenerational wealth transfers in the next 40 years.

Earning power can also be equated with purchasing power. Women have $20 trillion in annual consumer spending in America. In the next five years this is expected to rise to $28 trillion. Forbes magazine also highlights the upward trend in women’s economic progress - the rise of women's earning and purchasing power.

www.forbes.com

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