Growing gender parity will aid global growth prospects

Subject

Gender parity benefits and initiatives.

Significance

The BBC released salary details for employees earning more than 150,000 pounds (around 200,000 dollars) in July, revealing that two thirds of its high earners, and the seven highest, are male, and showing large gaps between staff performing similar tasks. Gender inequality is a worldwide problem in both the public and the private sector. Research shows that increased parity generates GDP growth through three channels: boosting the size and quality of the workforce; enlarging the consumer market; and acting as an organisational catalyst in leadership positions.

Impacts

• Reviewing and extending existing laws and regulations that promote and enforce gender equity will be as important as new legislation.
• Policy choice and progress will vary across the world, reflecting varying levels of gender parity and different traditions and religions.
• In low- and middle-income countries, ensuring cross-gender financial literacy and inclusion will become a key tool in equality programmes.
• US public spending in support of gender parity, in particular health funding, may fall, but private-sector initiatives have strong momentum.