As per a recent survey, women receive 77 cents for every dollar earned by males in the job. This highlights the gender disparity that exists globally.
According to the World Bank’s most recent analysis, which examined the real results for women in 190 economies, the gender gap is far wider than previously believed.
“The gender gap for women in the global workplace is massive – in fact, much wider than previously thought,” said the research.
The research states that laws requiring equal pay for equal work have been passed in 98 economies. Only 35 economies, meanwhile, have implemented methods to ensure pay transparency or close the wage gap.
“Experts perceive that approximately half of women in the examined economies have equality when it comes to pay and access to high-paying jobs,” said the research.
Global gender disparity
Pay was just one of ten indicators examined in the report, which also examined the frameworks assisting in the law’s implementation.
According to the analysis, economies have only constructed less than 40% of the necessary systems for fully implementing equal opportunity laws and frameworks. This suggests that the frameworks that support the law greatly influence its implementation.
The principal author of the report, Tea Trumbic, stated in a statement that “it is more urgent than ever to accelerate efforts to reform laws and enact public policies that empower women to work and start and grow businesses.”
According to the research, women still face substantial barriers to retirement, nationality rights, and business.
The research also notes that safety is another sign of failing economies.
While 151 economies have rules that forbid sexual harassment in the workplace, only 39 have regulations that forbid it in public areas, which frequently keeps women from taking public transportation to get to work.
Little more than half of women worldwide are able to participate in the workforce due to these barriers.
Trumbic declared, “This is not just unjust—it’s wasteful.” Enhancing women’s involvement in the economy is essential for elevating their voices and influencing decisions that directly impact them. Simply said, nations cannot afford to ignore half of their population.
