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(-) – The U.S. financial system is being held again by insurance policies that discourage girls from working, Richmond Federal Reserve President Thomas Barkin mentioned on Monday.
The United States was a frontrunner in feminine labor power participation however has lagged different wealthy counties in current a long time.
Barkin mentioned the labor power participation hole between U.S. and Canadian girls of prime working age suggests variations in authorities insurance policies are taking part in a job.
He mentioned demographic variations between the 2 international locations solely clarify a part of the hole, and famous that within the United States, girls with much less formal training account for a lot of the drop in labor power participation amongst girls between 1997 and 2015.
He mentioned U.S. tax insurance policies might be providing disincentives for some girls eligible for tax breaks that focus on low revenue earners.
“Women with much less training within the United States face quite a few obstacles to working,” Barkin mentioned in ready remarks for the Charlotte Economics Club in Charlotte, Norte Carolina.
He didn’t touch upon the near-term outlook for the U.S. financial system or financial coverage.
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