Communications of the ACM
Silicon Valley Could Gain $25 Billion By Narrowing Gender Gap
If Silicon Valley can close its gender gap, the tech-heavy area could gain $25 billion in gross domestic product by 2025, according to a new McKinsey report.
Credit: TechCrunch
Closing the gender gap could net Silicon Valley $25 billion in gross domestic product (GDP) by 2025, according to a new McKinsey study.
In comparison to other metropolitan areas, Silicon Valley could improve in overall gender parity, with McKinsey reporting the Valley has a gender parity score of 0.57 versus 0.69 in San Francisco and 0.61 in New York.
In terms of single mothers, Silicon Valley is the best performing metropolitan statistical area in California, and San Francisco has a substantial opportunity to boost women's presence in the workforce. There currently are only 80 women for every 100 men in the San Francisco labor pool.
Narrowing the gender gap at the California state level could lead to a $272-billion gain in GDP by 2025, while achieving full gender parity could increase GDP $648 billion by 2025.
Nationally, the U.S. could add $2.1 trillion in 2025 GDP by closing the gender gap in work, and national gender parity would elevate that figure to $4.3 trillion.
McKinsey analyst Kweilin Elligrud says the dual purpose of the report is to spur government, businesses, and nonprofits to proactively work toward gender equality, and to "bring more people to the table to talk about this and act on this."
From TechCrunch
View Full Article
Abstracts Copyright © 2016 Information Inc., Bethesda, Maryland, USA
No entries found