5 cities where women are outranking men in the job market

By JobsFOXBusiness

The economic benefits of an increased number of women in the workforce

S&P Global CEO Douglas Peterson on the firm launching a campaign on inclusivity in the workplace and the economic benefits of a greater number of women in the workforce.

The workforce may have been a man’s world more than 50 years ago, but in certain cities across the country, women are now "taking over."

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According to a new study released Friday by GoBankingrates.com, there are certain areas where women are outranking men based on data comparing the percentage of women and men in the labor force, median earnings for both groups and percentage increase of both over the last five and 10 years.

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What’s more, as reported by FOX Business, the female boost is not only good for cities, but it can be a boon to the stock market and overall economy, according to S&P Global CEO Douglas Peterson.

“In the United States itself—if it had continued with the same labor participation rate for women from 40 years ago until now—our economy would be 6 percent bigger—$1.6 trillion larger, $5,000 per capita larger in terms of our economy,” Peterson told FOX Business’ Maria Bartiromo Opens a New Window.  on Friday. “The stock market would also be a lot bigger.”

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Here are five areas where women are gaining ground, according to GoBankingRates.com.

1. Enterprise, Nevada

Over the last 10 years, the amount of women entering the workforce has climbed from 41.1 percent to 141 percent—the highest increase in any area in the U.S. While significant, the amount of men entering the workforce also grew from 29.5 percent to 115.1 percent

The top three industries for women are accommodation and food services; healthcare and social assistance; and arts, entertainment and recreation.

2. New Orleans, Louisiana

From 2007 to 2017, the percentage of women entering the workforce increased from 20.3 percent to 40.1 percent.

But while men experience a much larger increase at 14.1 percent to 37.7 percent, females account for a slight majority of the overall labor force at 50.9 percent compared to men at 49.1 percent.

3. Savannah, Georgia

The percentage of women entering the workforce increased from 14.1 percent to 24.5 percent from 2007 to 2017, whereas the percentage of men entering the job market was far less, at 9.4 percent to 12.4 percent.

4. Durham, North Carolina

While the percentage of women versus men entering the workforce started out the same, over the last 10 years, women workers increased by 12.9 percent compared to men at 7.8 percent.

Also, Durham ranks in the top three cities for the number of women versus men in the labor force at 51.6 percent compared to 41.1 percent.

5. Washington, D.C.

Over the last decade, the percentage of women workers in D.C. increased from 15.6 percent to 26 percent. And, while that number isn’t the highest on the list, females have comprised the majority of the labor force in the area since 2007 in areas such as professional, scientific and technical services at 17.2 percent; public administration at 16.2 percent and healthcare and social assistance at 12.7 percent.