1、Investors should consider this report as only a single factor in making their investment decision.For Reg AC certification and other important disclosures,see the Disclosure Appendix,or go to Bigger Picture|July 3,2024|5:00AM BSTWOMENOMICS 25 Years And The Quiet RevolutionSharon Bell+44(20)7552-1341

2、 Goldman Sachs International Yuriko Tanaka+81(3)4587-9964 Goldman Sachs Japan Co.,Ltd Note:The following is a redacted version of the original report published July 3,2024 25 pages nWe first publi shed on womens contri buti ons to the labour force,the opportuni ty for greater parti ci pati on and th

3、e economi c possi bi li ti es thi s provi ded 25 years ago i n research led by our then head of Japan Portfoli o Strategy,Kathy Matsui;Womenomics:Buy the Female Economy.Her research helped to shape the poli cy agenda,and we detai l the poli cy progress i n Japan i n thi s report.n25 years later we r

4、eturn to some of her themes.Whi le Matsui focused on Japan,we look globally at the progress made and consi der some constrai nts and opportuni ti es from here.nWomens contri buti on to the labour force i s di fficult to overstate.I n I taly,for example,the workforce would have shrunk i n recent year

5、s but for womens greater parti ci pati on.nI n most countri es,womens workforce parti ci pati on has ri sen and pay gaps have di mi ni shed.But progress i s nei ther li near nor uni versal;women i n I ndi a have seen parti ci pati on sli p,pay gaps remai n substanti al(not least i n Japan).Globally,

6、womens share of non-pai d work remai ns hi gh:a maj or barri er to workforce parti ci pati on and equali ty more generally,i ncludi ng the abi li ty to reach the top echelons i n firms,academi a or poli ti cs.nOne of the areas of greatest progress i s i n the corporate sector;the number of women CEO