The World Economic Forum‘s Gender Gap Report says that the 2022 global rising costs will hit women harder. The report was published on Wednesday and measures the gender gap in 146 countries all over the world. The data were collected taking into account four main factors: salaries and economic opportunities, education, health, and political empowerment.

Fighting the disparity

This disparity is based on several factors, ranging from the Ukrainian war, climate change, and the stagnant years following Covid-19. “Government and business must make two sets of efforts: targeted policies to support women’s return to the workforce and women’s talent development in the industries of the future,” said Saadia Zahidi, managing director at the World Economic Forum. “Otherwise, we risk eroding the gains of the last decades permanently and losing out on the future economic returns of diversity.”

The rising cost of living in numbers

The rising cost of living is now a global phenomenon, mostly affecting fuel, food, and housing. According to the Bureau of Labor Statistics, consumer prices went up to 9.1 percent in June 2022, compared to last year. This is the highest increase since 1981. 

On a more positive note, the Gender Gap Report estimated that it will take 132 years for humanity to reach gender equality, compared to the 136 years estimated in 2021.