WUNRN
Direct Link to Full 19-Page
Document:
How Women Are Being Affected by the Global Economic Crisis
& Austerity Measures
Jane Lethbridge, Public Services International Research Unit
(PSIRU) - October 2012
|
EXECUTIVE SUMMARY The global trade union
federation Public Services International (PSI) commissioned this report to
identify how women are being affected by the global financial and economic
crises, and the austerity measures being implemented by many governments. The
report analyses how women are being affected by changes in employment,
income, public services and benefits. The 2008 global financial
crisis was triggered by the collapse of the US sub-prime mortgage market. The
failure of these loans, packaged as complex derivatives and securities, sent
shockwaves through deregulated global financial institutions and threatened
the overall global economy. Governments used reserves
and borrowed extensively to support the financial sector. This increased
sovereign debt. Global GDP has declined. Unemployment has increased. Tax
revenues have fallen. Rather than taking action to stimulate the economy and
increase revenues, many governments are cutting expenditures, jobs and public
services. Women workers and their
children, in both the public and private sectors, are bearing the brunt of
these cuts: Women are the majority
among public sector workers and therefore have lost more jobs. The economic crisis has
reduced demand for exports from developing countries in sectors where most
workers are female. The gender pay gap has
widened. The long struggle for
equality has been set back by closure or funding cuts for public institutions
that promote equality for women at work and in society. Shelters for victims of
domestic violence have been closed. Governments have failed
to respect the legal rights of women workers. In at least one case, pregnant
women were first to lose their jobs. Wage freezes and cuts
have reduced the incomes and mobility of women who were already among the
lowest paid. Cuts in public services
and womens income will have long term effects on the health, well-being and
future opportunities of their children. Those who are most
vulnerable are being hurt the most. For example, girls are dropping out of
school to care for other family members while their mothers seek work. More and more women are
working in insecure jobs with long hours, low pay, and poor working
conditions to support their families. Reduced access to
health and education for women and girls will have long term effects on their
position in society. |
There is a continued need
to measure how the economic crisis and the cuts in government spending are
affecting women. As governments have been reluctant to use gender impact
assessments to assess austerity measures, there will have to be an increase in
political will to collect and analyse data. Trade unions and other civil
society organisations must campaign for the needed research and analysis to be
done, as well as undertake it themselves. Equality institutions and
organisations have been damaged by cuts. New investments in equality structures
are required.