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II ClosinGap Index ClosinGap launches the second edition of the ClosinGap Index to quantify the impact of the different gender gaps on Spanish GDP.

The pandemic intensifies gender gaps in Spain and pushes back the horizon for full parity to 2058

The decomposition of the second ClosinGap Index shows that the pandemic has intensified the gender gap from 35.9% in 2020 to 36.7% in 2021 and the date by which Spain will achieve full parity is pushed back to 2058. In terms of economic impact, the indicator shows that, in aggregate, the cost of inequalities between women and men has a negative effect on society of 213,299 million euros, equivalent to 19% of GDP in 2020.

Work-life balance, the unfinished business

Because of COVID-19, women have taken on most of the unpaid work, such as housework and childcare during confinement, an added difficulty when it comes to reconciling work and family life, which has increased the rate of part-time work among women. This indicator has worsened by 3.2 percentage points compared to last year, with the most relevant gap to be closed being 59.2%.

The main conclusions drawn from this analysis could not be more convincing: the gender parity index has worsened compared to last year as a result of the pandemic. Given the social and economic impact that this circumstance has on our economy, it is essential to promote initiatives to reverse this situation in the public and private spheres.

Manuel Martín Espada Partner in charge of Markets at PwC Spain
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