Unemployment Labour-force participation rates mask trends in unemployment since the former counts both those working and those unemployed but actively looking for employment. After the surge in unemployment due to pandemic lockdowns, both men’s and women’s unemployment rates have almost returned to pre- pandemic levels (Figure 2.3). Historically, women have consistently faced higher unemployment rates than men, except for a short period in 2020 when the pandemic led to a peak in unemployment for both genders (and slightly more so for men). Since then, the likelihood of women experiencing unemployment is again higher than for men, compounding the gender gap observed in labour- force participation: not only are fewer women participating in the labour market, but out of those who are, relatively fewer are employed. According to the latest data from the International Labour Organization (ILO), the global unemployment rate stands at approximately 4.5% for women and 4.3% for men.6 Disparity in female and male unemployment is highest in the Middle East and North Africa region, where the parity ratio currently stands at 2.69, followed by Latin America and the Caribbean, with 1.51 parity, and Eurasia and Central Asia at 1.21. East Asia and the Pacific is the only region below parity (1.0), meaning unemployment is lower for female workers than for men. Figure 2.4 further illustrates that unemployment patterns for women tend to be an amplified version of what is experienced by men. The likelihood of unemployment among workers with different levels of educational attainment tends to vary based on a country’s income level. In many advanced economies individuals with basic education face a higher risk of unemployment, and this pattern is particularly pronounced for women (Figure 2.4.a). Conversely, in low- and middle-income countries, individuals with advanced education are more susceptible to unemployment, with women again disproportionately affected (Figure 2.4.b). Further, women face greater difficulties in their search for employment. An individual is considered unemployed if they are actively looking for work and are available to start a job within a short notice period, typically a week. However, this definition assumes that men and women face similar conditions in their job searches and are equally available to take up employment on short notice. To address these limitations, the ILO has introduced the “jobs gap” measure, which encompasses all individuals who desire employment but are currently unemployed, including those actively seeking employment and readily available to start work on short notice, those not actively searching employment opportunities and not available for immediate job placement, and those searching for employment but unable to join the workforce on short notice. According to this ILO estimate, 12.3%, or 473 million people, fall into the jobs gap category. Women’s jobs gap rate of 15% is significantly higher than men’s jobs gap rate of 10.5%.7 Among both men and women actively seeking employment, women are also significantly less likely to be readily available to start work on short notice than men.8 Evidence suggests that these gaps persist due to both a lack of suitable job opportunities and lack of access to existing opportunities, in turn due to disproportionate care responsibilities and 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Gender gap in unemployment (0-1, parity) Year 1.10 0.95 1.00 1.05Parity line Source World Economic Forum calculations based on ILO modeled estimates, 100 countries, constant sample.Gender gap in unemployment, 2013-2022 FIGURE 2.3 Global Gender Gap Report 2023 35

GGGR 2023