GENDER EQUALITY IN THE LABOR MARKET

Хураангуй

We have already heard about many of the challenges that prevent women from fully participating in the economy and the statistics that demonstrate them. For example, women’s participation in labor force has been declining, women entrepreneurs are more likely to own informal or micro businesses. Women receive smaller amounts when they apply for loans, are less successful with their applications, and they pay higher interest rates. All this despite having a better performance statistically on repayment of loans. We are aware of these figures and the challenges they indicate, however, we should not confuse these statistics with women not already being incredibly important to the success of the economy.

 We must avoid definitions of economic growth, productivity and the use of certain statistics, that lead us to undervalue women’s incredible contributions to the economy now. The care economy is a concept that is emerging in global discourse that helps us form the vocabulary to discuss the critical (but often unpaid) work that is required in any society or economy, and that work is disproportionately carried out by women. In Mongolia studies tell us that if you compare working men to working women, not including those who stay home full time to take care of family and loved ones, working women do three times more household work than working men.