Gender employment gap costs EU 360 billion euros a year

The gap between female and male employment costs the European Union 360 billion euros ($399 billion) of losses a year, or some 2 percent of its total economy, a new study said on Monday.

Italy, Malta and Greece had the worst readings with about a 20% gap in 2018, when the data was analysed, while Lithuania, Sweden and Finland were the best, all below 5%.

Overall, the average figure for the bloc - including Britain prior to its departure - came in at 15% and fell from 480 billion euros in 2008, according to the EU's Eurofund agency, which tracks trends to inform policy-making.

The cost is an estimate of foregone earnings, missed welfare contributions and public finance costs related to lower female employment, Eurofund said.