The World Economic Forum says the crisis of living will affect women the most

The World Economic Forum on Wednesday pointed to a growing gender gap in the global labor force, saying the cost of living crisis due to high fuel and food prices is expected to affect women the most.

The Geneva-based think tank and event organizer best known for hosting an annual gathering of elites in the Swiss alpine city of Davos says recovery from a ballooning gender gap is not as expected as the COVID-19 crisis Is. has been eased.

The economic impact of the pandemic on women has been particularly severe. According to the Society for Human Resource Management, more than one million women left the workforce between February 2020 and January 2022, which is a reflection of persistent pay disparityOutdated notions of undervalued work and caring.

Many others have had to choose between showing up in front-line jobs or taking care of your children Which, with the daycare center closed and the school running remotely, would otherwise be left without supervision.

The Forum estimates that it will now take 132 years for the world to reach gender equality – down from 136 – which the organization defines as four main factors: pay and economic opportunity, education, health and political empowerment.

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A breakdown by country gave Iceland the top marks, followed by several Nordic countries and New Zealand, as well as Rwanda, Nicaragua and Namibia. Germany, Europe’s largest economy, came in 10th place out of 146 countries reported. Also on the list were the world’s largest economies: the US at number 27, China at number 102, and Japan at number 116.

Forum’s managing director Saadia Zahidi says women have been disproportionately affected by the crisis of living after the loss of the labor market during the pandemic and inadequate “care infrastructure” – such as those for the elderly or children.

“In the face of weak reform, government and business must make two efforts: targeted policies to support the return of women in the workforce and the talent development of women in future industries,” she said. “Otherwise, we risk permanently destroying the gains of past decades and losing the future economic returns of diversity.”

The report, now in its 16th year, aims to track the shocks in the labor market that could affect the gender gap.

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