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Gender Pay Gap on Pace to Close – in 118 Years


It will take another 118 years to close the global gap in wages paid to women and men.

That stark conclusion came in a report published Wednesday by the World Economic
Forum
 on equal rights between men and
women in employment, health, politics and education. Researchers ranked Iceland as the best nation, while Yemen ranked worst.

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The organization studied 145 countries, and the U.S. placed as the 28th
best for gender equality, ranking just below Mozambique and just above Cuba. The U.S. ranking dropped from 20th last year, mostly due to fewer women in high-profile government
positions, according to the study.


Despite progress made, with a quarter of a billion women entering the
global workforce since 2006, the gender gap in the four areas studied has improved only 4 percent during the
last 10 years, according to the report. With regard to the global gender pay gap specifically, at the rate societies are progressing in
the 145 countries surveyed it will take until 2133 for the world to close the gap between men and women working similar jobs, the organization
reports.

More women than men are enrolling in universities in 97 countries, according to the report. They occupy a
majority of skilled job fields like medicine or law in just 68 countries and
only hold a majority of leadership roles in four nations – Philippines, Colombia, Fiji and Ghana.


“Companies
and governments need to implement new policies to prevent this continued loss
of talent and instead leverage it for boosting growth and competitiveness,” Saadia Zahidi, head of the Global Challenge on Gender Parity at the World Economic Forum, said in a press release.



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