Why women are victims of poverty globally?

Inequality based on a person's gender is one of the world's oldest and most ubiquitous kinds of discrimination. At the domestic, national, and global levels, it prevents women from having a voice, devalues the labour that they do, and places them in a position that is unequal to that of men.

In spite of the strides made in this direction in recent years, women have not yet achieved economic parity with men in any nation, and they are still more likely to be poor than men. This is despite the fact that significant strides have been made in this direction.

In the workplace, women are more likely to be underpaid, under appreciated, and devalued.

The pay is quite low. Women consistently hold the lowest-paying jobs in every region of the world. It will take 170 years at the current rate of growth to close the wage gap, which currently stands at a difference of 24 percent less than what males earn globally. There are approximately 700 million fewer women in paid labour than there are men.

A lack of work that is acceptable: Seventy-five percent of women who live in developing countries are part of the informal sector. This means that they have a lower chance of having job contracts, legal rights, or social protection, and they are frequently not paid enough to be able to lift themselves out of poverty. There are 600 million people who are employed in the most unstable and unstable forms of work.

Uncompensated labour in the care industry. Women perform at least twice as much unpaid care labour as men, including childcare and housework. In some cases, women perform up to ten times as much unpaid care work as men, and they do this on top of their paid employment. It is estimated that the value of this work done annually is at least $10.8 trillion, which is more than three times the size of the global technology industry.

More hours worked per day: When paid and unpaid labour are combined, women put in significantly more hours each day than men do. This indicates that over the course of her working life, a young woman in today's world will put in the equivalent of four additional years of effort than a man will.

A reduction in poverty for all people would result from greater economic equality for women.

The unequal treatment of women in the workplace results in a loss of $9 trillion per year for the economies of developing nations. This is a sum that, if redirected to women, would not only increase their purchasing power and benefit their families and communities but would also provide a significant boost to the economy as a whole.

Evidence gathered from a variety of different areas and nations demonstrate that decreasing the gender gap leads to a drop in the number of people living in poverty. Countries that have better degrees of gender equality tend to have higher income levels.

Around thirty percent of the overall reduction in poverty and income inequality that occurred between the years 2000 and 2010 was attributable to an increase in the number of women who were working for pay. This occurred throughout Latin America, for example.

It is consequently essential for fulfilling women's rights, eliminating poverty, and achieving broader development goals to assist women in gaining access to work that is both decent and of high quality, as well as in improving their ability to provide for themselves.

The economic independence of women is an essential component of reaching this goal. We need a human economy that works for women and men equally, as well as for everyone else, and not just a select few people who are already affluent.