WUNRN
International Monetary Fund - IMF
WOMEN, WORK, & THE ECONOMY: MACROECONOMIC GAINS FROM GENDER
EQUITY
Direct Link to Full 32-Page IMF 2013
Document:
EXECUTIVE SUMMARY
Women make up a little over half
the world’s population, but their contribution to measured economic activity,
growth, and well-being is far below its potential, with serious macroeconomic
consequences.
Despite significant progress in
recent decades, labor markets across the world remain divided along gender
lines, and progress toward gender equality seems to have stalled. Female labor
force participation (FLFP) has remained lower than male participation, women
account for most unpaid work, and when women are employed in paid work, they
are overrepresented in the informal sector and among the poor. They also face
significant wage differentials vis-à-vis their male colleagues. In many
countries, distortions and discrimination in the labor market restrict women’s
options for paid work, and female representation in senior positions and
entrepreneurship remains low.
The challenges of growth, job
creation, and inclusion are closely intertwined. While growth and stability are
necessary to give women the opportunities they need, women’s participation in
the labor market is also a part of the growth and stability equation. In
particular, in rapidly aging economies, higher female labor force participation
can boost growth by mitigating the impact of a shrinking workforce. Better
opportunities for women can also contribute to broader economic development in
developing economies, for instance through higher levels of school enrollment
for girls.
This Staff Discussion Note
examines the specific macro-critical features of women’s participation in the
labor market, the constraints preventing women from developing their full
economic potential, and possible policies to overcome these obstacles.
Implementing policies that remove labor market distortions and create a level
playing field for all will give women the opportunity to develop their
potential and to participate in economic life more visibly. The analysis
presented in this Staff Discussion Note is based on research undertaken in
academia and by other international financial institutions, in addition to the
IMF’s own surveillance and research work (Appendix 1).
