It’s International Women’s Day, a global day celebrating the social, economic, cultural, and political achievements of empowered women! The day also marks a call to action for accelerating gender equality.
This is an issue important to everyone. The role women play in their communities has a massive impact on economic development, poverty rates, and sustainable development. One woman earning a promotion, landing an interview, becoming a homeowner is changing the trajectory of her family for generations. She is also improving her community in big ways.
Like Sara, whose progress towards a better life is transforming her child’s future.
At Live & Learn, we invest in women. Here are just 4 of the ways WE ALL benefit.
Increased workforce participation
Women spend around 2.5x more of their time on unpaid care and domestic work than men. It makes sense that because women take on more of the domestic responsibilities, it becomes harder to work outside of the home. When women are empowered, they are able to pursue paid, stable employment, poverty rates decrease, food insecurity decreases, and the stability, nutrition, and overall wellness of her family increases. Closing the gender pay gap will accelerate these benefits.
When more women work, economies grow.
It is estimated that the gender wage gaps lowers the economy some 15% of GDP. When women are able to work in stable jobs, they invest their income in securing the basic needs of their families, in opportunities and wellness for their children, and in their local economies.
Increasing women’s educational attainment contributes to more inclusive economic growth.
Increased educational attainment accounts for about 50% of the economic growth in OECD countries over the last 50 years. Education, upskilling, and re-skilling to keep pace with technology are critical for providing women with opportunities to raise their wages. When women are provided education and continued skill-development, they are less reliant on government assistance. The effects are passed down to their children and will have an impact on economic growth for years to come.
Women’s economic equality is good for business.
Companies receive great benefits from increasing employment and leadership opportunities for women. In an article from Wealth Matters, UN Women estimated that companies with three or more women in senior management functions score higher in all dimensions of organizational performance.
When we empower women, we increase the skilled workforce, local economies are strengthened, businesses do better, and families rise out of poverty and create generational wealth and self-sufficiency. We all benefit.
This is not like eating a pie. When someone is given an opportunity, it doesn’t mean there is no slice left for others. In fact, there is more than enough to go around. Empowered women do not diminish opportunities for others. Rather, when we raise women up and include diverse voices in conversations and decision making, every level of our community is strengthened.
Thanks to the support of donors who believe in the importance of empowering women, Live & Learn women are strengthening our broader community for generations to come.
Source: UN Women, 2018
