As part of its new gender equality strategy, European Commission is expected to move forwards introducing legal obligation to report on gender pay gap.
Written by Thomson Reuters Foundation
Brussels, March 2 – The gap between female and male employment costs the European Union 360 billion euros ($399 billion) of losses a year, or some 2 percent of its total economy, a new study said on Monday.
Italy, Malta and Greece had the worst readings with about a 20% gap in 2018, when the data was analysed, while Lithuania, Sweden and Finland were the best, all below 5%.
Overall, the average figure for the bloc – including Britain prior to its departure – came in at 15% and fell from 480 billion euros in 2008, according to the EU’s Eurofund agency, which tracks trends to inform policy-making.
The cost is an estimate of foregone earnings, missed welfare contributions and public finance costs related to lower female employment, Eurofund said.
