Gender employment gap costs Europe €370 billion per year
Despite a continued increase in the female activity rate in Europe during the recent financial crisis and a narrowing of the gender participation gap in most Member States, a significant gender employment gap remains. With the female employment rate still more than 10% lower than the male equivalent, the cost of this -including foregone earnings and missed welfare contributions of individuals to the society, as well as the public finance cost, comprising individual welfare transfers and social benefits – is now estimated at around €370 billion, corresponding to 2.8% of the EU’s GDP. At an individual level, the cost of a woman’s exclusion from employment throughout her working life is estimated at between €1.2 million and €2 million, depending on her educational level. These findings are detailed in the new report The gender employment gap.
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