Close the gender pay gap to strengthen Europe’s competitiveness
Source: EPD Group
“Closing the gender pay and pension gaps is not only a matter of fairness, but also a strategic economic necessity for Europe’s competitiveness, growth, and fiscal sustainability,” said Mirosława Nykiel MEP, negotiator of the report on gender pay and pension gaps in Parliament’s Committee on Women’s Rights and gender equality, after the vote.
“At a time of growing geopolitical pressure and unfair international competition, Europe must fully harness all its talents. Closing these gender gaps is not optional - it is essential”, Nykiel stressed.
According to estimates, gender pay and pension gaps cost the EU EUR 390 billion in 2023 due to lost earnings and lower public revenues. Closing the gender employment gap could boost GDP per capita by between 3.2% and 5.5% by 2050, while higher wages would encourage more women to enter and remain in the labour market.
“Europe cannot afford to waste women’s talent,” Nykiel added. “Pay and pension gaps are an economic inefficiency - they keep people out of work and weaken Europe’s ability to respond to demographic decline and skills shortages.”
The report places competitiveness and productivity at the heart of the debate, highlighting that women’s full economic participation is indispensable for Europe’s long-term prosperity.
“Closing the gender pay and pension gaps is not only a matter of fairness, but also a strategic economic necessity for Europe’s competitiveness, growth, and fiscal sustainability,” said Mirosława Nykiel MEP, negotiator of the report on gender pay and pension gaps in Parliament’s Committee on Women’s Rights and gender equality, after the vote.
“At a time of growing geopolitical pressure and unfair international competition, Europe must fully harness all its talents. Closing these gender gaps is not optional - it is essential”, Nykiel stressed.
According to estimates, gender pay and pension gaps cost the EU EUR 390 billion in 2023 due to lost earnings and lower public revenues. Closing the gender employment gap could boost GDP per capita by between 3.2% and 5.5% by 2050, while higher wages would encourage more women to enter and remain in the labour market.
“Europe cannot afford to waste women’s talent,” Nykiel added. “Pay and pension gaps are an economic inefficiency - they keep people out of work and weaken Europe’s ability to respond to demographic decline and skills shortages.”
The report places competitiveness and productivity at the heart of the debate, highlighting that women’s full economic participation is indispensable for Europe’s long-term prosperity.