Positive Impact of Woman Labor in Economic Growth Essay

Labor – one of the factors of production and serves as the source of competitive advantage of various countries in attracting foreign investors. Alongside with labor is the concept of productivity which is the largest single component of economic growth especially for those labor intensive countries. Therefore, government of various countries around the globe a lot enough focus on maintaining the equilibrium condition of their labor market in order to achieve impressive economic growth. But with the advent of globalization, the demand for laborers extended up to such point wherein the labor market has to accommodate woman on the pool of labor. But why is that so? Are there any benefits that can be derived from hiring a woman on a certain business firm? This paper aims to identify the effects of woman’s entrance to labor pool to economic growth as well as the factor/s that contributed in order for such event to occur in the labor market. Relationship of Woman Labor and Economic Growth   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gender bias in labor force is a large factor to some of the countries especially in the Middle East wherein the labor pool is still being dominated by men and discrimination and injustices to women is very much accepted into their society. But there are still those liberal countries that welcome the entrance of women to labor force. Like for instance in UK, women serve as one of the source of higher productivity and economic growth (Walby, 2002). For the past decades, UK is relatively stable in terms of market success due to the improvement of the skills of their labor force and women made a significant contribution for the attainment of such impressive productivity and high performance. The characteristics of women like being keen to details and always want to take their time in order to attain the highest possible quality improved the efficiency and effectiveness of UK’s labor force.   Furthermore, though women are physically weak as compared to men, they are more productive when it comes to making planning and strategies on how to solve various problems concerning the welfare of the company or a business firms. This distinct characteristic of women serves as an avenue towards the improvement of the entire labor pool of UK for the past years. Moreover, it was identified that deficit in the labor force in the UK market provided a room for the market system to accept the entrance of women into the labor force despite of the fact that women have fewer educational qualifications than men; but this draw back on women was already settled by the present young women. Women nowadays compete at par with men in terms of attaining higher positions in the corporate world as they start to attain higher academic degrees. With this increase on productivity of labor force in UK industries started to generate more income and becomes more profitable. Moreover, domestic production is deemed to boost by the time skilled women entered the labor force of UK. In this regard, it is clear that the entry of women to labor force did provide positive impacts on the economic growth of the country. This insight do not suggest that men are already less efficient as compared to women, the point is, with the entry of women in the labor pool, the efficiency and effectiveness of men is further improved by the women. But with regards to physical productivity, still, men are still the one who dominates in the said area. Moreover, with the entrance of women in the labor force, flexibility of the labor pool improves since there were some tasks that only women can perform or requires the experiences of a woman. As a result, the productivity of the labor forces increase and so with the entire economy. At the end of the day, the entrance of women to labor force increases the volume of domestic production as more laborers can now be hired by domestic and foreign firms; as well as the improvement on the quality of the products being produced in the economy due to the innate characteristics of women like their keen attention to details provides lesser rooms for mistakes or errors. Moreover, those increases in the domestic production and higher quality of products will make the GDP of the country to increase which in return will improve the economic and social welfare of every laborers in the market. References Walby, S. (2002). The Impact of Women’s Position in the Labor Market on Pay and Implications for UK Productivity. Retrieved March 28, 2008, from http://www.womenandequalityunit.gov.uk/publications/weu_pay_and_productivity.pdf