As International Women’s Day 2023 approaches, the United Nations Development Programme (UNDP) has issued a sobering warning that the Global Goal to achieve gender equality and empower all women and girls by 2030 is at risk of falling behind schedule.
The UNDP has highlighted alarming statistics that underscore the persistent and deeply entrenched gender inequalities in key economic sectors and workforce participation rates worldwide.
According to the UNDP, a mere two in every ten jobs in the critical fields of science, engineering, and information technology globally are held by women.
“The Global Goal to achieve gender equality and empower all women and girls by 2030 is not on track. Two in every ten jobs in science, engineering, and information technology globally are held by women and UN Women predicts that the labor workforce participation rate for women will remain below pre-pandemic levels in 169 countries,” the UNDP said in blog to commemorate the 2024 International Women’s Day (IWD).
As actuaries, whose profession is to apply their mathematical expertise to analyze the financial impact of risks, these statistics are a glaring reality.
“For example, women have longer life expectancy along with distinct health needs related to pregnancy and childbirth. Income gaps and social norms where women often take up greater caring responsibility in the family also result in unique protection needs.”
“As actuaries, whose profession is to apply their mathematical expertise to analyze the financial impact of risks, these statistics are a glaring reality. We see the gender differences in risks faced by women compared to men, which may be driven by biological and cultural factors.
“For example, women have longer life expectancy along with distinct health needs related to pregnancy and childbirth.
“Income gaps and social norms where women often take up greater caring responsibility in the family also result in unique protection needs.””Income gaps and social norms where women often take up greater caring responsibility in the family also result in unique protection needs.”
This glaring underrepresentation in STEM (Science, Technology, Engineering, and Mathematics) disciplines, which drive innovation and economic growth, serves as a stark reminder of the systemic barriers and biases that continue to impede women’s equal access to opportunities in these high-growth, well-remunerated industries.
Compounding this issue is the UNDP’s projection that the labor force participation rate for women will remain below pre-pandemic levels in a staggering 169 countries, potentially reversing years of hard-won progress towards gender equality in the workforce.
These sobering statistics paint a concerning picture, suggesting that the Global Goal to achieve gender equality and empower all women and girls by 2030, as outlined in the United Nations’ Sustainable Development Goals (SDGs), is at risk of going off track.
