Gender inequality in pay costs $160 trillion annually across 141 countries

Pay gap inequality

Globally, countries are losing $160 trillion in wealth because of differences in lifetime earnings between women and men. This amounts to an average of $23,620 for each person in the 141 countries, according to a World Bank Group study. ‘Unrealised Potential: The High Cost of Gender Inequality in Earnings,’ study examines the economic cost of gender inequality in lost human capital. It reveals that globally women account for only 38 per cent of human capital wealth versus 62 per cent for men. In fact, in low- and lower-middle income countries, women account for a third or less of human capital wealth. The losses in wealth from inequality in earnings between men and women vary by region. The largest losses - each between $40 trillion and $50 trillion-are observed in East Asia and the Pacific, North America, and Europe and Central Asia. 

Technology challenged CIOs

As many IT (information technology)  workers develop greater technology skills and apply them to advance their careers, many digital workers in non-IT departments believe their CIO (chief information officer) is out of touch with their technology needs. According to Gartner, Inc. survey less than 50 per cent of workers (both IT and non-IT) believe their CIOs are aware of digital technology problems that affect them. European workers say that their CIO is more aware of technical challenges (58 per cent) than US workers believe they are (41 per cent). The survey also reveals that millennials were less likely to approach IT support teams through conventional means. About 53 per cent of surveyed millennials outside the IT department say that one of their first three ways to solve a problem with digital technology would be to look for an answer on the internet.