Sep 28 2021

Promoting women $ 20 trillion for global economic development by 2050

Promoting women $ 20 trillion for global economic development by 2050

According to a new study, global economic growth could get a boost of $ 20 trillion if women are educated at the same level as men and keep the same number of jobs.

This study is the latest evidence that closing the labor-market gender gap is important for the economy as it recovers from the epidemic - and beyond.

The policy changes, resulting in more women entering the workforce, such as women's access to secondary education, child care, and flexible work arrangements, as they have global growth over the next three decades, "lighting the fire "Ability.  Adriana Dupita, Abhishek Gupta, and Tom Orlick, an economic analysis published this week. The report examines 36 developed and emerging economies.

This study is the latest evidence that closing the labor-market gender gap is important for the economy as it recovers from the epidemic - and beyond. The study found that 58.4% of women between the ages of 25.1 and 64 were higher than 92.1% of men. In the US, while women helped the world's largest economy pull out of the last recession, this time they are almost lagging behind - something that economists have dubbed the country's first female recession.

A growing number of women in the US have left employees in the last year amid service-industry failures and care for children whose school or daycare has been shut down during the epidemic. According to the Census Bureau, some 1.4 million mothers remained out of the workforce in January. At the same time, a February job report showed little improvement in participation among PM-aged women, though still worse than pre-epidemic levels.

India had the lowest female participation rate of 16.6% among the countries analyzed in the report. Closing the gap between men and women can add more than 30% to the country's GDP by 2050.

Bloomberg economist Dupita said, "As important, countries need to think that the economy will have to redesign its economies to enable it to welcome additional labor power with productive jobs". "In many countries, barriers to women's education and employment are deepened." Especially countries like India need to reframe their economy keeping in mind female participation.

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Posted by : Akansha Mehrotra

Editor/copywriter/SEO analyst at Global Market, create content on Sport, Business, Educational, International, Political, Technical, Entertainment, Lifestyle.

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