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April 9, 2016

There's a $2 Trillion GDP Boost in Shrinking the U.S. Gender Gap

By Laura Colby

Improving gender equality would add at least $2.1 trillion to U.S. gross domestic product by 2025, according to a McKinsey Global Institute study, a boost roughly the size of the Texas economy.

“We were surprised that there was such a large economic opportunity still at stake” because the U.S. is a relative leader in gender parity, said Kweilin Ellingrud, a McKinsey partner and author of the study. The consulting firm in September said the global economy would gain $28 trillion in GDP with full gender equality.

While completely erasing the gender gap would add $4.3 trillion to U.S. GDP, Ellingrud said the $2.1 trillion represents more realistic progress. The smaller figure assumes each U.S. state improves at the same rate as the most-improved state in the previous 10 years. The study looked at 10 indicators, from the number of women in managerial and technical jobs to political leadership to violence against women. For the full story from Bloomberg, click here.

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