Cost-of-living crisis to hit women hardest, report says

A cost-of-living crisis sparked in part by higher fuel and food prices is expected to hit women the hardest, the World Economic Forum reported Wednesday, pointing to a widening gender gap in the global labour force.

The Geneva-based think tank and event organizer, best known for hosting an annual gathering of elites in the Swiss Alpine town of Davos, says a hoped-for recovery from a ballooning gender gap hasn’t materialized as expected as the Covid-19 crisis has eased.

The forum estimates that it will now take 132 years — down from 136 — for the world to reach gender parity, which the organization defines around four main factors: salaries and economic opportunity, education, health, and political empowerment.

Saadia Zahidi, managing director at the forum, say women have been disproportionately affected by the cost-of-living crisis following labour market losses during the pandemic and insufficient “care infrastructure” — such as for the elderly or children.