The Economics of Home Production

Abstract

The composition of the labor force has changed dramatically since 1960. In 1960, only one-third of the labor force participants were female. However, since the 1960s, the labor force rates of men have declined, from 83.3% to 75% as of 1995, while the participation rate for women has surged, from 37.7% in 1960 to 58.9% in 1995.1 The combination of rising labor force participation rates for women and falling rates for men has resulted in a work force that is approaching equal representation of each gender. However, the picture at home indicates a far greater gender stratification of work than that of the paid labor market.