GENEVA – It will take at least seven more decades until women earn as much as men if the pay gap continues to narrow at the current pace, the International Labor Organization (ILO) said Monday in Geneva.
Women currently earn 23 percent less on average than men, the U.N. labor body said in a report issued for International Women’s Day on Tuesday.
While 72 percent of men around the world are employed, the rate for women is 46 percent. This gap has narrowed only 0.6 percentage points over the past 20 years.
“Over the last two decades, women’s significant progress in educational achievements has not translated into a comparable improvement in their position at work,” the ILO experts wrote.
Since women spend far more time on household work and child care than men, many are unable to take on full-time work and end up earning less, ILO said.
These factors, together with the fact that many women tend to work in lower-quality or informal jobs, leads to stark gender disparities in old age.
Some 200 million elderly women around the world live without regular pension income, compared to 115 million men, ILO reported.
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