The world average of women who are paid for their labor is just under 40%. That doesn’t mean that the other 60% of women in the world don’t work. It just means they aren’t paid for it. Staying at home to care for the family is a valid choice, when it is a choice. In reality, many women work without pay. This isn’t just a pay gap. It’s a gap in actual pay, in participating in the workforce and earning a wage. Today, International Women’s Day, seems like the perfect time to discuss this issue. The 2023 Nobel Prize for Economics was awarded to Claudia Goldin, the first woman to solo win this prize. Goldin looked into women’s past and present roles in the workforce, to define and explain the gender differences in work and pay. Working outside the home, not to mention having a professional career, isn’t always a woman’s choice. Lack of education and occupational options and training determined women’s professional destinies for centuries. In the 1930’s, for example, it was customary that a woman quit her job when she got married, after which she’d be documented in the US census simply as “wife”. It's not the 30’s anymore, so workforce gender differences can’t be explained away by lack of education and professional opportunities. Despite access to education, even today, in the most equal countries, well-educated women are still less likely to work, and when they do, they are likely to be paid less than men. There’s a bit of good news. As technology advances, there’s a growing need for a better educated and highly skilled workforce. As women gain more control and expand the reach of their education, they increase their participation in the workforce and further narrow the gender gap. As leaders, let’s #InspireInclusion of women in our companies. Let’s raise the next generation of professionals, the next Claudia Goldin. Above all, let’s cherish our power to pay everyone, everywhere. It’s where we realize our greatest value. #internationalwomensday #genderequality