AUSTRALIA is missing out on $195 billion or 13 per cent of GDP by failing to close the workforce gender gap, says the chief economist at Goldman Sachs, Tim Toohey.
Mr Toohey said living standards would rise, productivity would increase and pension liabilities would fall if certain policies were introduced to help close the gap.
But he warned if it wasn't priority for both sides of politics, it would have a detrimental impact on economic growth. ''As a nation we will be lucky to get labour supply growth of 1 per cent going forward. That means Australia will simply grow by a slower rate than we have become accustomed to.''
See full Article: http://www.theage.com.au/national/cost-of-gender-gap-put-at-195b-20130308-2fr6n.html
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