We Have To Wait Another 170 Years To Bridge Gender Pay Gap, Reveals WEF Data

Those looking forward to see the end of gender gap in pay and workforce participation will have to wait for another 170 years, as per data provided by the World Economic Forum in its annual gender gap index on Tuesday (25 October).

Although the data in 2015 foretold that the economic gap between genders could be ended in 118 years, the progress has slowed down drastically in nations around the world.

Iceland and Finland were the highest ranked among 144 nations, with data calculated on progress in equality in education, health and survival, economic opportunity and political empowerment. The African nation of Rwanda occupied the fifth place since it has improved economic participation and income equality. Rwanda also has the highest share of female parliamentarians in the world.

The United States, on the other hand, ranked 45 on the global list. Yemen, Syria, Saudi Arabia and Iran are among the nations ranked at the bottom.

About 54 per cent of working-age women on average participate in the formal economy, in contrast to 81 per cent of men. The average annual earning of women workers is estimated to be $10,778, as opposed to the men earning $19,873.

Closing the gender gap in political empowerment at current rates may perhaps take more than 80 years. The only good news is that the gender gap in terms of education could be closed down within the next decade.