Average earning of women is half than those of men with $10,778, versus $19,873. It will take 170 years to close this wage gap.
New Delhi-Oct 28, 2016. Rednewswire/-
According to the World Economic Forum, efforts made to close the gender wage gap and workforce participation around the world has been so slow in the past few years that it would take 170 years to reach economic equilibrium between men and women.
Some statistics presented last year showcase that the economic gap between men and women would take nearly 118 year to close. However, world progress towards the same has reversed or stalled away, said WEF, the Swiss non-profit organization in its annual gender gap index.
“These forecasts are not foregone conclusions. Instead, they reflect the current state of progress and serve as a call to action,” said Saadia Zahidi, a member of WEF. Among the total 144 countries measured on the basis of education, survival, health, economic opportunities and political empowerment progress, Finland and Iceland are ranked the highest.
Next in the list were Sweden and Norway followed by Rwanda which has shown tremendous improvement in income equality and economic particpitation. The country has the highest number of women parliamentarians in the world, said the report. U.S was ranked 45th whereas Yemen, Saudi Arabia, Pakistan and Syria stood at the bottom.
Disparity in Wages
The economic between men and women measured this year is reverted back to what it was in 2008. It is calculated on the basis of participation in labour force, income earned and advancement in jobs. This year it stands at 59 percent.
The WEF report says that, given the current rate of gender wage gap and the widening of this gap last year, men and women will not reach economic equality in another 170 years. Average earning of women is half than those of men with $10,778, versus $19,873.
However the political gender gap is decreasing slowly and steadily. Though education (literacy and school enrollment) gap between men and women is so small that is would close in the coming 10 years but it will take 82 years to close the political gap.