JPMorgan's report predicts 134 years to achieve global gender equality
What's the story
JPMorgan Chase & Co. has published a report which estimates that it will take 134 years for the world to achieve full gender equality.
The report said that progress toward it had recently stalled, even though there was an increased global participation of women in the workforce.
It added that only about 32% of senior leadership roles at companies around the world were held by women.
Stagnant progress
Gender gap remains largely unchanged in 2024
The JPMorgan report says, "Despite incremental progress, the global gender gap across 146 countries remains largely unchanged in 2024."
Only 68.5% of the gap is closed when taking into account economic and political participation, educational attainment, and health.
The report adds that at the current rate of progress toward gender equality, it will take an estimated 134 years to achieve full parity globally.
Gender inequality
Women underrepresented in high-paying US jobs
The report shows that women are still underrepresented in key executive decision-making roles; white men dominate the highest-paying jobs in the US.
Only about 10% of powerful roles like CEO, COO, and CFO are filled by women.
Despite record levels of female participation in the workforce, there's been a 17% increase in the gender pay gap, it said.
Pay disparity
Gender pay gap persists across age groups
The report also found that the gender pay gap in the US widens with age.
Among younger workers (aged between 16 and 24), women's median usual weekly earnings are about 8% lower than men's.
For prime-age workers, they earn 16% less than their male counterparts, while those aged between 55 and 64 earn 22% less.
Women aged 65 and older earn 27% less than men of the same age.