This week, we collaborated with Allie Narwat at Unleash, to write about women leaving the US workforce.
Looking at data on employees at public companies in Northern America, the plot below tracks the rolling mean of monthly hiring rates of women and men. Although the numbers look similar until fairly recently, we observe a widening gap between hiring rates of men and women in the recent past, especially during the pandemic.
It is hard to disentangle whether this dip in women taking up new roles is driven by labor supply, or labor demand. However, we can look at how the market prices for childcare changed during the pandemic. The plot below tracks the percent change over time in the average salaries of childcare and caregiving positions, compared to other job postings.
We see a relative surge in salaries for roles in childcare in early 2021. Cost of childcare remained at this high level throughout 2021. This surge in childcare costs might be a contributing factor to why women are delaying taking up new roles, or are taking up less demanding roles outside of large public companies.
Key Takeaways:
To learn more about the data behind this article and what Revelio Labs has to offer, visit https://www.reveliolabs.com/.
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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
