Full Gender Equality Would Result In A $4.3T Boom For The Economy
Gender equality in the workplace could boost the US economy by $4.3T in a decade, according to a new study by the McKinsey Global Institute.
The report defines gender equality as the US taking all steps to increase women’s participation in the economy by hiring more women into high-pay sectors and paying women the same wages as men.
And while there are signs we’re on the right track, the report concedes it won’t be easy to achieve that $4.3T growth as the barriers holding women back are unlikely to fully subside in a decade, Money reports.
The numbers make it easy to see why—currently women make up 46% of the US workforce but account for only one fifth of GDP. [Money]