That question is the focus of some recent research by Chen Huang.
Women’s labor force participation rate has moved from 61% in 2000, to 57% today. It seems two-thirds of this change has been due to demographics, namely the aging of the adult female population. What about the rest? It seems that, relative to education levels, wages for women have not been rising since 2000:
I discover that the apparent increase in women’s real wages is more than accounted for by the large increase in women’s educational attainment. Once I condition on education, U.S. women’s real wages have not increased since 2000 and may even have decreased by a few percentage points. Thus, the locus of wage/education opportunities faced by U.S. women has not improved since 2000 and may have worsened. Viewed in that light, the LFPR decrease for women under age 55 becomes less surprising.
You can consider that another indicator of the Great Stagnation.