For women, poverty means more than having little or no income. It means lacking control over their income, even in the family. It means missing opportunities because they lack power and voice. It means missing out because they are undercounted, undervalued, underserved, and underrepresented.
Women are missing — and missing out — on many fronts. The value of women’s unpaid work is estimated to equal USD 11 trillion, or almost 50 percent of world GDP, yet this work is missing from national income accounts — leaving women missing out on social security, pension schemes and access to public services.
In terms of paid employment, while more and more women are joining the workforce, they are predominantly clustered in informal work — short term, part time or contract work that leaves them missing from employment-based pension and health insurance benefits. Even in formal employment, women are paid less than men — worldwide, women’s wages are 73-77 percent of men’s wages — and lack similar promotion opportunities.
In too many countries, women and girls are denied a solid education and have no access to credit or legal title to land and property — pre-conditions to overcoming poverty.
Yet women are also missing from the public decision-making structures with the power to shape social and economic policies. As long as social, cultural and economic barriers exclude women from full participation in public life, the solution to the poverty puzzle will remain elusive.