Across the United States — and around the world — women are quietly exiting the workforce. Some leave abruptly after hostile workplace experiences. Others make a slower calculation: the wage gap is persistent, advancement feels blocked, caregiving support is absent, and bias — subtle or overt — makes staying more costly than leaving.
This is not a “women’s issue.” It is an economic one. And the Monterey Bay region is no different.
As the President and CEO of MBEP, economic development is at the heart of my workdays. Whether I’m meeting with an elected representative to discuss housing policy, advocating for regional broadband dollars, or convening stakeholders for jobs, I am keenly aware of inequities in our region. I am a caregiver of two school-age girls, two parents in Kern County, and a mother-in-law in Los Angeles County. And I’m one of the luckier ones — a flexible staff, grandparents that are still capable of stepping in to help with their granddaughters when I travel for work, which is often, and a husband that supports my career growth and my commitment to MBEP’s mission and embraces his role as equal parent and partner. Not everyone has that privilege.
Economic participation is one of the strongest drivers of sustainable growth. When women fully engage in the labor force — as employees, entrepreneurs, investors, and leaders — productivity rises, innovation expands, and communities stabilize. Conversely, when barriers push women out, economies contract in ways that compound over time.
The data is clear. According to the U.S. Bureau of Labor Statistics, women’s labor force participation has rebounded since the pandemic but remains deeply uneven across race, income level, and caregiving status. Meanwhile, the wage gap persists — with women earning, on average, about 82 cents for every dollar earned by men, and far less for Black and Latina women. These gaps are not simply the result of occupational choice. They reflect systemic patterns: undervaluation of care work, unequal access to capital, promotion bias, and workplace cultures that penalize motherhood.
Bias also operates in less visible ways. Women report being interrupted more frequently, credited less often for ideas, evaluated more harshly for assertiveness, and labeled “difficult” for leadership traits that are praised in men. In high-pressure environments, they are often expected to absorb institutional dysfunction without complaint. When they raise concerns — about equity, harassment, or discriminatory practices — they risk retaliation or reputational damage.
At a macroeconomic level, this leakage of talent is profoundly inefficient. McKinsey & Company has estimated that advancing gender equality could add trillions of dollars to global GDP. That projection is not abstract. It is rooted in labor force participation, entrepreneurship rates, and productivity gains when women’s contributions are fully leveraged.
Legal and policy frameworks are decisive in shaping who can participate. Access to paid family leave, affordable childcare, equitable lending practices, transparent pay policies, and strong anti-discrimination enforcement all influence whether women can remain economically active. When these supports are absent or weakly enforced, the burden shifts onto individuals — and many opt out.
Entrepreneurship tells a similar story. Women start businesses at high rates, yet they receive a fraction of venture capital funding. Lending disparities limit scale. Regulatory environments that do not address structural inequities compound the gap. Removing barriers to credit and capital is not charity — it is economic strategy.
Companies also bear responsibility. Workplaces that ignore bias, tolerate inequity, or dismiss leadership input from women risk more than reputational harm. They risk losing institutional knowledge, reducing innovation capacity, and weakening governance. When senior women depart, the signal reverberates throughout an organization: advancement may not be viable here.
The consequences extend beyond boardrooms. When women’s incomes stagnate or disappear, household financial stability erodes. Child outcomes are affected. Retirement savings shrink. Community spending declines. The ripple effect is measurable.
This moment demands an honest conversation. Not one framed solely around “work-life balance,” but around structural design. How are workplaces built? Who benefits from current norms? What legal frameworks enable or constrain participation? Where are accountability mechanisms failing?
At MBEP, our internal policies focus on flexibility so we can recruit and retain top talent. And as a regional convener, MBEP advocates for and continues to support regional and statewide childcare policies.
Economic resilience requires inclusive participation. Sustainable growth depends on harnessing the full spectrum of talent available. Removing barriers that limit women’s access to work, entrepreneurship, and financial systems is not merely about fairness — it is about strengthening the foundation of our economy.
When women leave, we all lose. The question is not whether we can afford to address bias, discrimination, and wage inequity. It is whether we can afford not to.
—Tahra Goraya is President & CEO of Monterey Bay Economic Partnership (MBEP), a regional member-supported nonprofit organization whose mission is improving the economic health and quality of life in Monterey, San Benito and Santa Cruz counties.
About Monterey Bay Economic Partnership (MBEP): Monterey Bay Economic Partnership (MBEP) is a regional member-supported nonprofit organization consisting of public, private, and civic entities located throughout the counties of Monterey, San Benito, and Santa Cruz. Founded in 2015, our mission is to improve the economic health and quality of life in the region.