Summarize and synthesize the assigned readings. Essay

Discussion
Mathematics and Economics
Name
Institution
Date
DISCUSSION
Part 1
According to Jacobsen, the growth of the female labor force participated reflects some of the great changes that have happened in the economy of the United States. For example, from 1948 to 1997, there has been an addition of 46 million women workers in the economy.This is because women have become very educated. However, there has been a decline in the trend of men in labor participation. The differences in labor force participation in different groups is related to demographic differences. Age is also a factor. The rise of female labor force participation can be divided into factors associated with increased demand and those associated with increased supply. These factors include the following.[Blau, Francine D., and Lawrence M. Kahn. "Gender differences in pay." ]
Demand for labor has increased due to technological innovations and this has increased market productions. The demand for labor has increased. At the same time, increased wages and income have made people purchase and consume more. The rise of the education of women has assisted in increasing the supply of women who are educated. Employers are willing to pay more to have a qualified team. Technological changes in non-market production is another factor. With the growing technological advancement, goods and services are available in the market. These developments and increased women have been able to penetrate the labor market. Changes in the composition of families had affected labor supply through changes in tastes and availability of unearned revenue. The size of a family, marriage trends and divorce affect labor supply. In the 1950s and 1960s, the number of unmarried women had increased and this explains why women were a source of labor. The last factor is the decrease in the wages of men.[Jacobsen, Joyce P. The economics of gender.]
However, male labor force participation has decreased. The demand-side factors include sectorial declining demand for labor in the male sectors. Additionally, there is an increase in the possibility of substitution by female workers because of technological changes and low income for women. When it comes to supply factors more men are retiring early because of the availability of old-age benefits and pensions. This had reduced the supply of labor among men.[Jacobsen, Joyce P. The economics of gender.]
Part 2
According to Jacobsen, women are paid lower income compared to men. This is because women tend to work fewer weeks and work a few hours per week compared to men. Additionally, the wages of women tend to decrease as they age. This reflects on the tendency of women to drop out of labor force for family reasons and a lot of barriers in the advancement of their skills. In the 1970s women...