〇n mean, female earn less than men. Much of this is due to the work they do, either by choice or by social expectations. These often pay less than typical male occupations. Some are the result of discrimination, such as lower wages for women in the same positions. Before the covid-19 pandemic, the median wage gap between men and women narrowed at least slightly. economistThe Women’s Workplace Empowerment Glass Ceiling Index, released each year on International Women’s Day on March 8, shows that this positive trend has reversed in 2021. OECDIncludes UK and Canada (see chart and economist.com/glassceiling for full index).
One explanation is the pandemic hangover. Workers’ wages have been disproportionately hit as hotels, restaurants and shops shut down during the lockdown. And those workers were disproportionately female. If so, the widening wage gap may have been temporary. Demand from employers in these sectors has been hot since the economy began to reopen. Over the past year or so, Americans working in leisure and hospitality have seen faster earnings growth than Americans working in male-dominated industries such as transportation.
A return to pre-pandemic trends will be aided by increases at the opposite end of the income spectrum for women. The percentage of board members in 2022 will be OECD More than 30% of women sneak up on them for the first time. MSCI currently expects to reach parity by 2038, four years earlier than previous estimates. Of the 3,000 or so large companies included in the research firm’s Global Stock Index, only 64 of them had female-majority boards. But that’s double his in 2021 and includes giants like Citigroup and Shell. Such companies in North America consistently have higher credit ratings, according to a just-released analysis by credit rating agency Moody’s. Untangling cause and effect is not easy. There should be female empowerment.
Sign up to stay on top of the biggest business and technology news Conclusiona weekly subscriber-only newsletter.
https://www.economist.com/business/2023/03/09/after-years-in-decline-is-the-gender-pay-gap-opening-up Is the gender pay gap widening after years of decline?