The dynamics of the society we live in today have clearly changed. Women’s perspectives on their responsibilities have evolved with time, which has led to lifestyle choices that prioritise their career over customary familial duties.
According to a recent Morgan Stanley survey, there will be a significant increase from previous decades, with around 45 per cent of women in their prime (working age range of 25 to 44 years) expected to be childless and single by 2030.
One of the key reasons behind this trend is women's decision to postpone getting married or choosing to remain single. This is a significant shift from earlier generations when it was common for women to marry in their 20s. The tables have turned; today, they want to put their profession and personal growth first, and so being single is beginning to appeal to them. Women in their 30s and 40s are more likely to file for divorce or opt to not marry again once they reach middle age.
In the past, women would become mothers in their early 20s. However, the trend of postponing or reconsidering parenthood can have various effects on society. Many factors contribute to this, such as worries about the expense of raising children, job growth, and work-life balance. These days, a greater proportion of women are joining the labour and taking on the role of primary breadwinner in their homes. Women now have the financial freedom to prioritise their personal fulfilment and professional development as a result of this change.
The economy is predicted to be significantly impacted by the increase in childless, unmarried women. As an increasing number of women opt not to get married or have children, their financial power is probably going to increase. The way society views marriage and parenthood by 2030 is also probably going to change. This might result in more progressive childcare, flexible work schedule, and equal pay policies—actions that could contribute to closing the female wage gap.
It is obvious that in the years to come, women's contributions to the global economy will only grow in importance. Their increasing independence will undoubtedly be the driving force behind it, and it will have an equal impact both within and outside of the workplace.
Image source: CII blog, Future CIO, Guardian, Cloudfront