Global fintech and funding innovation ecosystem

Ten things to know about gender equality

McKinsey Global Institute | Sep 21, 2020

Gender eqality - Ten things to know about gender equalityIn 2015, the 193 member countries of the United Nations came together to commit to 17 Sustainable Development Goals. Goal 5 focused on gender equality and set the ambitious target of achieving gender equality and empowering women and girls everywhere by 2030. Five years later, large gender gaps remain across the world, and the early evidence suggests that the COVID-19 pandemic has had a regressive effect on gender equality.

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How can we ensure that the role of women in the workplace and in society is central to efforts to rebuild economies in the COVID-19 era, and that women do not fall further behind? As world leaders at the UN General Assembly assess progress, look ahead to recovery, and commemorate the 25th anniversary of the Fourth World Conference on Women and the Beijing declaration, we offer our perspectives on the ten things everyone should know about gender equality.

10 Facts About Gender Equality

1. Tackling the global gender gap will boost global GDP

2. Progress toward gender equality has been marginal since 2015; large gaps remain

3. Over the past two decades, while women in advanced economies have made large gains as workers, consumers, and savers, they have faced rising costs and insecurity

4. Women continue to work a double shift at home

5. Women face growing challenges from automation

6. The challenge for women is now even greater as they experience economic fallout from COVID-19

7. We can grow our way out of some gender equality issues but not others

8. Companies that are gender and ethnically diverse outperform their peers

9. The corporate career pipeline for women is leaky, especially early on

10. All stakeholders need to work together to maintain and accelerate progress on gender equality

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