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Closing Japan Gender Gap May Boost GDP 13%, Goldman Says

Japan’s workforce would swell by more than seven million people and output would jump if participation by women equaled that of men, Goldman Sachs Group Inc. said in its latest “Womenomics” report.

Closing the gender employment gap could boost Japan’s gross domestic product by as much as 13 percent, analysts led by Chief Japan Strategist Kathy Matsui wrote in a note dated yesterday. The role of women in Japan’s workforce will likely get a “renewed focus” as the government in June announces a revised growth strategy and Prime Minister Shinzo Abe calls for increased labor participation, according to the report.