Despite significant progress in recent decades, labor markets across the world remain divided along gender lines. Female labor force participation has remained lower than male participation, gender wage gaps are high, and women are overrepresented in the informal sector and among the poor. In many countries, legal restrictions persist which constrain women from developing their full economic potential. While equality between men and women is in itself an important development goal, women's economic participation is also a part of the growth and stability equation. In rapidly aging economies, higher female labor force participation can boost growth by mitigating the impact of a shrinking workforce. Better opportunities for women can also contribute to broader economic development in developing economies, for instance through higher levels of school enrollment for girls.
In advanced economies and emerging markets, policies should facilitate women’s work–life choices and boost female participation in the labor market, whereas policies in low-income and developing countries should focus on reforms that narrow gender gaps in opportunities and improve education and skills.
Our latest gender note highlights how gender equality can serve as a stabilizing factor to rebalance demographic trends.
Latest books provide analytical and anecdotal accounts of the greatest challenges—and the perspective that comes with time
Empowering women economically is a powerful engine of inclusive growth
A new survey reveals the gender gap persists
Capturing the dividends from women’s economic equity. Too many women are locked out of economic opportunities, which is not only unfair but also harms growth and resilience for all.
The pandemic has deepened long-standing gender gaps, with women continuing to bear the burden of unpaid work. By structuring spending and taxation in ways that advance gender equality—a process called gender budgeting—governments can help close the gap.
International Women’s Day, first recognized by the United Nations in 1977, grew from early 1900s labor movements for better working conditions and women’s right to work.
Activity expanded by nearly 1 percent in 2023, with GDP surpassing its pre-pandemic level by 4½ percent. Headline inflation fell on the drop in energy prices, with core inflation also moderating. Employment rose alongside real activity. Financial conditions have eased somewhat but remain tight. Despite fiscal deficits much larger than pre-COVID, the public debt ratio declined on deferred recording of tax credits and strong nominal GDP growth. Sovereign debt risks are moderate overall, but high at the medium- and long-horizons. Low fertility and low female labor force participation foreshadow faster population and work force declines amid weak productivity growth.
This paper examines the impact of board gender diversity on the performance of firms whose greenfield investments are struck by natural disasters. We find that corporations with more diverse boards are more likely to earn higher net income but less likely to have negative earnings in front of natural disasters. Further analyses indicate that those corporations with more diverse boards invest less in countries vulnerable to climate change but more in countries ready to adapt for climate change. They have lower exposure to environmental policy risks and are more likely to establish dedicated committees to oversee the risks.
This study examines the green transition's effects on labor markets using a task-based framework to identify jobs with tasks that contribute, or with the potential to contribute, to the green transition. Analyzing data from Brazil, Colombia, South Africa, the United Kingdom, and the United States, we find that the proportion of workers in green jobs is similar across AEs and EMs, albeit with distinct occupational patterns: AE green job holders typically have higher education levels, whereas in EMs, they tend to have lower education levels. Despite these disparities, the distribution of green jobs across genders is similar across countries, with men occupying over two-thirds of these positions. Furthermore, green jobs are characterized by a wage premium and a narrower gender pay gap. Our research further studies the implications of AI for the expansion of green employment opportunities. This research advances our understanding of the interplay between green jobs, gender equity, and AI and provides valuable insights for promoting a more inclusive green transition.
The share of women in managerial and leadership roles in Japan – in both the public and private sector – are among the lowest across the globe. This paper empirically examines what drives these large gender gaps in leadership in Japan, using the SVAR model. Results suggest — (i) cultural norms where women take up significantly more burden of household and childcare work; (ii) Japan’s unique employment practices (non-regular employment, long in-person working hours); and (iii) the availability of childcare facilities — are the key drivers. Further progress on workstyle reforms, more flexible labor markets, improving the quality of childcare facilities, and raising paternity leave usage will help close these gaps.
Japan’s fertility has declined in the past three decades. Raising Japan’s fertility rate is a key policy priority for the government. Using cross-country analysis and case studies, this paper finds that the most successful measure to support the fertility rate is the provision of childcare facilities, particularly for children aged 0-2. Offering stronger incentives for the use of paternity leave can alleviate the burden of childcare on mothers, supporting fertility. On the other hand, there is limited evidence that cash transfers are effective in supporting fertility, based on international experience.
This paper provides an update on progress towards the Fund’s FY 2025 Diversity Benchmarks, as of the end of FY 2023. The paper also includes information on action the Fund is taking to promote greater diversity and inclusion through a two-year roadmap of initiatives primarily focused on recruitment, talent development, equity and inclusion and promoting greater leadership accountability and transparency. The paper also covers plans to convene a cross-functional working group to establish the Diversity Benchmarks targets for FY 2030.
St. Lucia has enviably high female labor force participation rate and strikingly low participation gap vis-à-vis male. The latter is lower than OECD average and way below world average. Women are also more educated than men. Yet, using a micro dataset of St. Lucia Labor Force Survey over the period 2016-2021, our analysis points towards disproportionate effects of childcare on female participation and unemployment and a substantial gender gap in labor income for workers without higher education. Moreover, the income gap is not explained by observable worker characteristics. While the paper does not explore causal links, this unique feature of high female participation and, yet, considerable gender gaps in other dimensions could be due to the social, historical, and political structure that resulted in a matrifocal but not a matriarchal system. At the same time, the small gender gaps for workers with higher education across participation, unemployment, and labor income seem to suggest that women can overcome some barriers through education. Our results bring to the fore two crucial aspects related to gender studies: (i) While macroeconomic indicators like female labor participation rate are important tools, they are not always sufficient to capture progress in gender equality; and (ii) econometric analysis needs to be complemented with a more holistic understanding of the history and social context shaping deeply rooted gender traits.
Two broad contrasting demographic trends present challenges for economies globally: countries with aging populations, often advanced economies and increasingly emerging markets, anticipate a significant shrinking of the labor force, with implications for growth, economic stability, and public finances. Economies with rapidly growing populations, as is the case in many low-income and developing countries, will face a burgeoning young population entering the labor market in the next decades—a large potential to reap the demographic dividend if the right skills and economic and social conditions are in place. This note highlights how gender equality, in both cases, can serve as a stabilizing factor to rebalance demographic trends. As decisions regarding fertility, human capital investment, and labor force participation are interlinked, policies should aim at relaxing households’ time and resource constraints that condition these choices. This means that, in general, in advanced economies and emerging markets, policies should facilitate women’s work–life choices and boost female participation in the labor market, whereas policies in low-income and developing countries should focus on reforms that narrow gender gaps in opportunities and support human capital accumulation.
Latest books provide analytical and anecdotal accounts of the greatest challenges—and the perspective that comes with time
Empowering women economically is a powerful engine of inclusive growth
A new survey reveals the gender gap persists
Capturing the dividends from women’s economic equity. Too many women are locked out of economic opportunities, which is not only unfair but also harms growth and resilience for all.
The pandemic has deepened long-standing gender gaps, with women continuing to bear the burden of unpaid work. By structuring spending and taxation in ways that advance gender equality—a process called gender budgeting—governments can help close the gap.
International Women’s Day, first recognized by the United Nations in 1977, grew from early 1900s labor movements for better working conditions and women’s right to work.
Activity expanded by nearly 1 percent in 2023, with GDP surpassing its pre-pandemic level by 4½ percent. Headline inflation fell on the drop in energy prices, with core inflation also moderating. Employment rose alongside real activity. Financial conditions have eased somewhat but remain tight. Despite fiscal deficits much larger than pre-COVID, the public debt ratio declined on deferred recording of tax credits and strong nominal GDP growth. Sovereign debt risks are moderate overall, but high at the medium- and long-horizons. Low fertility and low female labor force participation foreshadow faster population and work force declines amid weak productivity growth.
This paper examines the impact of board gender diversity on the performance of firms whose greenfield investments are struck by natural disasters. We find that corporations with more diverse boards are more likely to earn higher net income but less likely to have negative earnings in front of natural disasters. Further analyses indicate that those corporations with more diverse boards invest less in countries vulnerable to climate change but more in countries ready to adapt for climate change. They have lower exposure to environmental policy risks and are more likely to establish dedicated committees to oversee the risks.
This study examines the green transition's effects on labor markets using a task-based framework to identify jobs with tasks that contribute, or with the potential to contribute, to the green transition. Analyzing data from Brazil, Colombia, South Africa, the United Kingdom, and the United States, we find that the proportion of workers in green jobs is similar across AEs and EMs, albeit with distinct occupational patterns: AE green job holders typically have higher education levels, whereas in EMs, they tend to have lower education levels. Despite these disparities, the distribution of green jobs across genders is similar across countries, with men occupying over two-thirds of these positions. Furthermore, green jobs are characterized by a wage premium and a narrower gender pay gap. Our research further studies the implications of AI for the expansion of green employment opportunities. This research advances our understanding of the interplay between green jobs, gender equity, and AI and provides valuable insights for promoting a more inclusive green transition.
The share of women in managerial and leadership roles in Japan – in both the public and private sector – are among the lowest across the globe. This paper empirically examines what drives these large gender gaps in leadership in Japan, using the SVAR model. Results suggest — (i) cultural norms where women take up significantly more burden of household and childcare work; (ii) Japan’s unique employment practices (non-regular employment, long in-person working hours); and (iii) the availability of childcare facilities — are the key drivers. Further progress on workstyle reforms, more flexible labor markets, improving the quality of childcare facilities, and raising paternity leave usage will help close these gaps.
Japan’s fertility has declined in the past three decades. Raising Japan’s fertility rate is a key policy priority for the government. Using cross-country analysis and case studies, this paper finds that the most successful measure to support the fertility rate is the provision of childcare facilities, particularly for children aged 0-2. Offering stronger incentives for the use of paternity leave can alleviate the burden of childcare on mothers, supporting fertility. On the other hand, there is limited evidence that cash transfers are effective in supporting fertility, based on international experience.
This paper provides an update on progress towards the Fund’s FY 2025 Diversity Benchmarks, as of the end of FY 2023. The paper also includes information on action the Fund is taking to promote greater diversity and inclusion through a two-year roadmap of initiatives primarily focused on recruitment, talent development, equity and inclusion and promoting greater leadership accountability and transparency. The paper also covers plans to convene a cross-functional working group to establish the Diversity Benchmarks targets for FY 2030.
St. Lucia has enviably high female labor force participation rate and strikingly low participation gap vis-à-vis male. The latter is lower than OECD average and way below world average. Women are also more educated than men. Yet, using a micro dataset of St. Lucia Labor Force Survey over the period 2016-2021, our analysis points towards disproportionate effects of childcare on female participation and unemployment and a substantial gender gap in labor income for workers without higher education. Moreover, the income gap is not explained by observable worker characteristics. While the paper does not explore causal links, this unique feature of high female participation and, yet, considerable gender gaps in other dimensions could be due to the social, historical, and political structure that resulted in a matrifocal but not a matriarchal system. At the same time, the small gender gaps for workers with higher education across participation, unemployment, and labor income seem to suggest that women can overcome some barriers through education. Our results bring to the fore two crucial aspects related to gender studies: (i) While macroeconomic indicators like female labor participation rate are important tools, they are not always sufficient to capture progress in gender equality; and (ii) econometric analysis needs to be complemented with a more holistic understanding of the history and social context shaping deeply rooted gender traits.
Two broad contrasting demographic trends present challenges for economies globally: countries with aging populations, often advanced economies and increasingly emerging markets, anticipate a significant shrinking of the labor force, with implications for growth, economic stability, and public finances. Economies with rapidly growing populations, as is the case in many low-income and developing countries, will face a burgeoning young population entering the labor market in the next decades—a large potential to reap the demographic dividend if the right skills and economic and social conditions are in place. This note highlights how gender equality, in both cases, can serve as a stabilizing factor to rebalance demographic trends. As decisions regarding fertility, human capital investment, and labor force participation are interlinked, policies should aim at relaxing households’ time and resource constraints that condition these choices. This means that, in general, in advanced economies and emerging markets, policies should facilitate women’s work–life choices and boost female participation in the labor market, whereas policies in low-income and developing countries should focus on reforms that narrow gender gaps in opportunities and support human capital accumulation.
The IMF's gender-focused events explore the role of gender equality in economic growth. These discussions offer insights into overcoming gender gaps, showcasing strategies that benefit women, families, and the global economy.
In an era marked by rapid technological advancement and shifting global economic landscapes, the imperative for inclusive growth and gender equality has never been more critical.
Managing Director Kristalina Georgieva and World Food Programme Executive Director Cindy McCain discussed their personal career journeys, investing in women and girls, and more.
Kristalina Georgieva, Melinda French Gates, Hon. Zainab Ahmed, and Sima Sami Bahous discussed how the IMF, governments, and others can work together to help reduce gender gaps.
Senior Advisor on Gender joined a panel discussion on the future of global population growth, and the pressures and opportunities it presents for women and girls.
Discussion on why more women are needed in the financial sector, especially in leadership positions, and how this can help with financial sector stability and inclusive growth.
"Gender Equality Boosts Economic Growth and Stability:" remarks by Gita Gopinath, IMF First Deputy Managing Director, delivered at the Korea Gender Equality Forum.
At the Center for Global Development, IMF's Ratna Sahay presented the recently approved IMF Strategy Toward Mainstreaming Gender, followed by a panel discussion.
