2005-10-23 / Bloomberg / By William Pesek Jr.
'In August 1999, Kathy Matsui raised many a male eyebrow in Japan with a report on how the future of the No.2 economy was in women's hands. Goldman Sachs (Japan) Ltd.'s chief strategist called the phenomenon "womenomics."
Women have been a powerful economic force for some time. Since many single females live with their parents, they pay little rent and have a disproportionate amount of disposable income. Take away their spending at department stores, travel agencies and fancy eateries and some of the men standing in the way of gender equality probably wouldn't have jobs.
That dynamic will only grow as companies warm to entrusting key jobs to women, especially now that Japan's recovery is encouraging employers to hire again. That's an important development in a nation that's reluctant to ease immigration laws to import labor.
Were Japanese female labor participation rates to hit U.S. levels, per capita income would be 5.8 percent higher, Matsui says. Such girl power would provide a nice boost to Asia's biggest economy.'
That's what's happening in Japan.
How's 'womenomics' in the U.S.? ~ lyh ~