A new report from the McKinsey Global Institute finds that the world economy would become $28 trillion richer by 2025 if women would participate in the global workforce at the same rate as men. As reported in Fortune, the group’s research extends to developing countries but also points out that a smaller percentage of American working-age women are in the labor force today than were 15 years ago.
McKinsey estimates that 43% of the potential economic gains from advancing women’s place in the U.S. economy could be made by simply closing the workforce participation gap between men and women, but that closing the gap will require a $2 trillion investment in education, healthcare, and opportunities like paid family leave over the next decade.