Authors: New York CIty Council
Date: 2017
Why did we select this article?
The article shows in a few slides the main approach the city of New York is undertaking to help women to succeed, to find equitable opportunities and to help them with loans, housing and parenthood. It provides data and facts about what has been reached so far and the goals for the future.
Key Findings
New York is considered to be one of the best cities in the world for women, as it has the smallest wage gap in the USA and it has invested $ 800 million in women-owned business over the last 3 years.
How did the city make it? By launching crow-funding partnerships to support women entrepreneurs, started the first loan program for women entrepreneurs, and made opportunities more accessible to minority and women business enterprises (MWBE). In addition, the city provided six weeks of fully-paid parental leave to city employees, a first in NYC history, increased minimum wage to $15 an hour for all city employees, including those contracted with social services agencies, it prioritized gender equity in the administration; 52 percent of senior leadership positions are held by women and finally increased pay for teachers and nurses by nearly 20 percent.
Women.nyc is needed because close to 50 percent of entry-level employees are women, but they only hold 17 percent of C-suite jobs. Moreover, only three percent of Fortune 500 CEOs are women, and as of 2017, women earn just 82 percent of what their male counterparts take home.
