Economic inequality for women costs $9tn globally, study finds
Women earn less money than men, with less stable jobs and lower participation in the workforce – and that drags down the whole economy
Economic inequality for women costs an estimated $9tn per year in the developing world, according to a report released Friday by ActionAid, an NGO that works to reduce poverty.
A combination of low pay, low participation in the workforce and insecure employment not only drags down women’s economic opportunities, but also the global economy as a whole, the report found.
In the wake of Thomas Piketty’s runaway economic bestseller, Capital in the Twenty-First Century, the issue of wealth inequality has become a hot-button issue. It’s also a key focus of the World Economic Forum meeting in Davos, Switzerland, this week.
According to ActionAid’s report, however, the issue of income inequality is underscored by the more specific – and, arguably, more corrosive – problem of gender inequality.
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