As we mark International Women’s Day 2018, there has never been a more critical time to invest in people, especially in women and girls.
Skills, knowledge, and know-how – collectively called human capital – have become an enormous share of global wealth, bigger than produced capital such as factories or industry, or natural resources.
But human capital wealth is not evenly distributed around the world, and it’s a larger slice of wealth as countries develop. How, then, can developing countries build their human capital and prepare for a more technologically demanding future?
The answer is they must invest much more in the building blocks of human capital – in nutrition, health, education, social protection, and jobs. And the biggest returns will come from educating and nurturing girls, empowering women, and ensuring that social safety nets increase their resilience.
According to UNESCO estimates, 130 million girls between the age of 6 and 17 are out of school, and 15 million girls of primary-school age – half of them in sub-Saharan Africa – will never enter a classroom. Women’s participation in the global labor market is nearly 27 percentage points lower than for men, and women’s labor force participation fell from 52 percent in 1990 to 49 percent in 2016.
What if we could fix this?
The phrase “gender gap” may be well known – but what about the gender gap for data? Today at an event at the Gallup Organization in Washington, D.C., U.S. Secretary of State Hillary Clinton and World Bank Group President Jim Yong Kim called for better data-gathering on girls and women as an essential way to boost women’s empowerment and economic growth.
“Gender equality is vital for growth and competitiveness,” said Dr. Kim at “Evidence and Impact: Closing the Gender Data Gap” in Washington, co-hosted by the State Department and the Gallup Organization.
But the lack of gender-disaggregated data hampers development efforts in many countries, Dr. Kim said.
“We need to find this missing data. We need to make women count.”