Texas鈥� female population is projected to surpass 18.5 million in less than 20 years 鈥� with women of color already making up the majority.
Women make up 46% of the workplace in Texas, with more than one million joining the workforce in the last 10 years.
But women earn 83% of what their male colleagues earn 鈥� a wage gap costing Texans more than $47 billion annually.
Those are among the findings in a study the Texas Women's Foundation released on Thursday found over the last two years.
The foundation published its fifth edition of Economic Issues of Women in Texas, examining women鈥檚 role in the workforce and economic growth 鈥� and the economic challenges they continue to face.
It focuses on statewide research, first beginning its research in 2014 and updated every two years. It鈥檚 conducted by non-profit group Every Texan and includes U.S. Census Bureau data, federal and state agency data, studies by policy organizations and academic research.
Texas has the eighth strongest economy globally, according to the study. Women-owned businesses alone in Texas generated $42 billion in wages and employed more than one million people.
But systemic barriers like stable housing, healthcare access, and childcare access can hinder women from success.
These findings emphasize the importance of addressing disparities in education, employment and access to resources, according to Karen Hughes White, president and CEO of Texas Women鈥檚 Foundation.
鈥淚n order for the Texas economy to remain strong, we must address the barriers for Texas women and families by enacting supportive and inclusive policies, closing the wage gap and increasing representation of women in leadership roles,鈥� White said.
Women on average earn between $5000 up to $20,000 less than men annually across 63 counties in the state, despite outpacing men in academic achievement, according to data.
17% of women in Texas are uninsured and nearly half of women live in a 鈥渃hildcare desert,鈥� areas where there are too few licensed slots for the number of children who need care. Single mothers also face the highest housing cost burden, limiting financial stability and mobility. And these numbers impact women of color the most.
White said policy changes are needed to improve women鈥檚 involvement in the workforce.
The study offered recommendations for policymakers, including promoting economic participation, equal pay, providing support for women鈥檚 educational advancement, and expanding healthcare access.
White said these issues affect everyone, not just women. She said she hopes the state鈥檚 growth in the future includes all Texans.
鈥淲hen we invest in women, women invest in families and the economy,鈥� White said.
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