Gender Equality In New Mexico

Decent Essays
Advancing women’s power parity at state level seems to be a smart economical approach to boost gross state product (GSP). A recent research by the McKinsey Global Institute (MGI) finds that maximizing the women’s economic potential and narrowing the inequality gap could add $18 billion in 2025 or more than 10 percent to annual gross state product (GSP) growth in the State of New Mexico over the next ten years. This involves putting more women to work in the formal sector of the economy to achieve a greater gender equality. Realizing the $18 billion addition to GSP requires achieving the potential of gender equality in New Mexico. New jobs will be created to offset the gender disparity and to replace the number of women that will be retiring…show more content…
Adopting pragmatic policy actions to promote more economic participation by women is not only critical to prosperity at long-run but can significantly contribute to the economic growth of the state. The potential gains by the United States which is the largest among the economically advanced countries can be replicated at the state level. On the contrary, expert opinions are of the view that the declining proportion of the active labor force due to demographic transition and slowing technological progress could cause the growth trajectory of the GDP to decelerate. Harnessing the potentials of gender equality will significantly stabilize the GDP growth over the coming decade.

This study examines the potential economic impact of tackling gender inequality in the state of New Mexico, with special focus on Hispanic and non-Hispanic women. The findings of the State Parity Score (SPS) were used to analyze the four indicators identified and prioritized as the impact zones. Action plans and range of potential interventions that policy makers, businesses and non-profit organizations should consider were discussed.
…show more content…
The same formula used in the 2016 MGI’s power parity report was used to compute the state parity score(SPS) and the county parity score (CPS) as shown in the appendix. A combination of New Mexico Department of Workforce Solution (NMDWS) job growth projections and MGI’s estimation technique were used in forecasting long-term growth in key industries up to 2022 based on 2012 employment
Get Access