Europen mean, female Earn less than men. This is largely due to the work they do, out of choice or social expectations; these are often paid less than typical male occupations. Some, such as lower pay for women in the same position, are the result of discrimination. Before the covid-19 pandemic, the gap between median wages for men and women was at least narrowing. economistThe Glass Ceiling Index for Women’s Workplace Empowerment, released annually on International Women’s Day 8 March, shows that this beneficial trend has reversed in 2021 among some of its wealthiest members OECDincluding the UK and Canada (see chart, and full index at economist.com/glassceiling).
One explanation is the hangover from the pandemic. When hotels, restaurants and shops closed during the lockdown, their workers’ wages were disproportionately affected. These workers are disproportionately women. If that’s the case, the widening pay gap may be just a blip: Demand from employers in these industries has been brisk since the economy began to reopen. Over the past year or so, incomes of Americans working in leisure and hospitality have grown faster than those working in male-dominated industries such as transportation.
Gains for women at the other end of the income spectrum will help return to pre-pandemic trends.Percentage of board members by 2022 OECD Women surpassed 30% for the first time. MSCI Parity is now expected to be achieved by 2038, four years earlier than previously estimated. Only 64 of the roughly 3,000 large companies in the research firm’s global equity index have a majority of women on their boards. But that’s double that in 2021, and that includes giants like Citigroup and Shell. Such companies in North America consistently have high credit ratings, according to an analysis just released by credit ratings agency Moody’s. Sorting out cause and effect is not easy. Empowering women should be.
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