Strengthening Women’s Economic Security | GPC

The Administration has strengthened women’s economic security and invested in America’s future by ensuring women have access to good jobs and safe workplaces free from discrimination. The President’s economic agenda led to historic gains in women’s labor force participation—and the lowest women’s unemployment rate in 70 years. Globally, we supported women’s economic security by promoting women’s access to jobs in sectors critical to the future of our planet and closing the gender digital divide.

Ensuring Good-Paying, High-Quality Jobs

The Administration’s once-in-a generation Investing in America agenda is creating millions of good-paying jobs, helping ensure that women, people of color, and other communities currently underrepresented in the industries of the future have equitable access to these jobs.

Advancing Pay Equity

President Biden and Vice President Harris remain committed to closing gender and racial wage gaps and ensuring all people have a fair and equal opportunity to participate in the labor force and support their families. Closing wage gaps is critical to strengthening and growing the economy.

The White House commemorates the 15th anniversary of the Lilly Ledbetter Fair Pay Act on January 29, 2024 in the Indian Treaty Room of the Eisenhower Executive Office Building at the White House. (Official White House Photo by Katie Ricks)

Supporting Women-Owned Small Businesses

In FY 2024, the Small Business Administration (SBA) backed 15,500 loans to businesses that are more than 50% owned by women, for a total of $5.6 billion. The growth in loans reflects a doubling in women-owned business participation from 2020 to 2024. And women’s small business formation surged during the Administration, substantially outpacing overall small business formation. Through the American Rescue Plan, the Administration invested $10 billion to help states, territories, and Tribal governments leverage even more in matching public and private dollars to support small businesses across the United States, with a particular focus on historically underserved entrepreneurs, including women business owners. And the Administration awarded the highest single year and average annual amount of contracting dollars to women-owned small businesses, including $30.9 billion in FY 2023 alone.