Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. ABN AMRO Bank N.V.
  6. News
  7. Summary
    ABN   NL0011540547

ABN AMRO BANK N.V.

(ABN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ABN AMRO Bank N : Redistributing paid and unpaid labour could net each household an extra €1000 a year

12/02/2021 | 01:21am EST
Redistributing paid and unpaid labour could net each household an extra €1000 a year
Press release
2 December 2021
Sustainability
Share

Dutch households would gain an annual € 1000 extra if men and women started doing the same amount of unpaid and paid work. As women now do more unpaid work than men do, households lose out on a good chunk of income. These are the conclusions of research institute SEO Amsterdam Economics in a study commissioned by ABN AMRO.

The institute's economic simulation reveals what the 2020 situation would have looked like if we had achieved true gender equality back in 2010. As the calculations show, an equal division of unpaid and paid labour between men and women would have led to an annual GDP increase of 10.8 billion euros. The total number of hours worked remains the same as it was in reality. Here are some other highlights from the report:

  • The gender pay gap* down 12 percentage points in corporate and 4 in government work

  • The unexplained pay gap** equals an additional 4.4 billion euros a year

  • The number of financially independent women up by 13 per cent

  • Redistributing labour this way does not lead to lower wellbeing or higher absenteeism

Dutch gender equality simulation

The report, Gender equality, presents a simulation in which households started equalising paid and unpaid work between the sexes back in 2010. The results show the consequences for individuals, households and the Netherlands as a whole. In reality, on average women do more unpaid work than men do, especially in terms of household tasks and informal care. In a gender equal situation, women would do over 25% more paid labour. Men, on the other hand, would do 17.1% less paid labour. As a result, average per capita income would rise by 881 euros a year and by over 1000 euros per household.

"This report reflects what the problem of gender inequality means from an economic perspective. This form of inequality is costing society money. Moreover, it shows how, by redistributing unpaid and paid work between women and men, we as a society are becoming more productive. No one needs to work more hours, the work is just distributed differently. That is exactly what would boost our country's GDP. And it also results in a higher average income per household", says Chantal Korteweg, Director of Inclusive Banking at ABN AMRO.

Equal distribution of unpaid and paid work pushes up income for women

The unequal distribution of unpaid work in the Netherlands creates imbalances in the labour market. As women and men grow older and start having children, careers and corresponding incomes increasingly diverge. The difference in hourly wages between men and women starts to diverge around the age of 30-35. This is often related to starting to care for children. In fact, at the age when couples have children, women typically start to do significantly less paid work while the male partner continues working a paid 9 to 5 job. This reduces women's income, particularly because it means they work fewer hours in a paid job and do more hours of unpaid work. From this point on, the hourly wage gap between women and men begins to widen, creating a skew in work history and opportunities for advancement. Korteweg: "The simulation shows how painful the impact of a skewed distribution of work and care hours is in the Netherlands. A redistribution can provide enormous positive effects."

pdf10MB1 December 2021

*gender pay gap:A systematic difference in total salary between men and women with comparable education and experience.

**unexplained pay gap:Part of the pay gap can be explained by differences in background characteristics such as hours worked, education or employment contract. There is also a portion of the pay gap for which there are no identifiable causes. This is the unexplained pay gap.

Author
Jarco de Swart
Senior Press Officer Strategy, Corporate Affairs, Finance & Risk
jarco.de.swart@nl.abnamro.com
+31 (0)20 628 2160

Disclaimer

ABN Amro Bank NV published this content on 02 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 06:20:02 UTC.


© Publicnow 2021
All news about ABN AMRO BANK N.V.
12:12aABN AMRO BANK N : to sponsor WTT and WWTT till at least 2025
PU
01/18ABN AMRO BANK N : Clearing introduces fractional investing infrastructure for commercial c..
PU
01/13ABN AMRO BANK N : Carbon reduction high on the agenda
PU
01/13ABN AMRO BANK N : Jorissa Neutelings ABN AMRO's new Chief Digital Officer
PU
01/13Dutch Environmental Activist Group Targets 30 Companies In Netherlands To Curb Emission..
MT
01/12WeTransfer's Owner to Raise $182 Million in Planned Amsterdam IPO
MT
01/11ABN AMRO BANK N : Payday offers unique solution for paying flexi-workers instantly
PU
01/11ABN AMRO Bank Raises Provision For Excess Interest Compensation to $386 Million
MT
01/11ABN AMRO BANK N : Sustainable Impact Fund invests in INNAX
PU
01/11ABN AMRO BANK N : Update on ABN AMRO compensation scheme for revolving consumer credit
PU
More news
Analyst Recommendations on ABN AMRO BANK N.V.
More recommendations
Financials
Sales 2021 7 315 M 8 301 M 8 301 M
Net income 2021 1 025 M 1 163 M 1 163 M
Net Debt 2021 - - -
P/E ratio 2021 13,8x
Yield 2021 5,66%
Capitalization 13 685 M 15 531 M 15 528 M
Capi. / Sales 2021 1,87x
Capi. / Sales 2022 1,88x
Nbr of Employees 19 700
Free-Float 46,9%
Chart ABN AMRO BANK N.V.
Duration : Period :
ABN AMRO Bank N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ABN AMRO BANK N.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 14,56 €
Average target price 14,74 €
Spread / Average Target 1,25%
EPS Revisions
Managers and Directors
Robert Swaak Chairman-Executive Board & Chief Executive Officer
Lars Kramer Chief Financial Officer
Tom de Swaan Chief Financial Officer & Chief Risk Officer
Christian Bornfeld Chief Innovation & Technology Officer
J. S. Tjalling Tiemstra Member-Supervisory Board
Sector and Competitors