The International Labour Organization ILO, is a U.N. agency, since 1919 that brings together governments, employers and workers of 187 member States , to set labour standards, develop policies and devise programmes promoting decent work for all women and men. ILO report shows closing the gender gaps by 25 per cent by 2025 could add US$ 5.8 trillion to the global economy and boost tax revenue. The report provides analysis of the key drivers of female labour force participation by investigating the personal preferences of women and the societal gender norms and socio-economic constraints that women face.
A key finding of this report:
- Closing these labour market gaps would yield significant economic benefits in terms of GDP growth and improving individual welfare in multiple dimensions.
- There are significant constraints influencing a woman’s decision to participate. Accordingly, the report introduces a comprehensive framework to address the drivers of these gender gaps and outlines a series of policy recommendations to improve the labour market outcomes of women.
- Women who would like to improve their labour market situation are being held back by social norms and a range of socio-economic constraints
Moving forward, closing gender gaps will require concerted efforts across a range of policy dimensions. In this respect, the most immediate concern for policy-makers should be to alleviate the constraints on women’s freedom to choose whether or not to enter the labour market and the barriers they face once they are in the workplace.