Elson (1999) argues that labour markets are quintessentially gendered by nature. For a productive economy, it is necessary to include women. Participation of women thus increases. However, participation of women in the labour market does not equate to women empowerment in the labour market. They are different concepts, because participation does not automatically assure empowerment. Participation is shunted and where participation is encouraged, it still happens that there is a significant reduction in earnings. Gendered markets are characterized by earning differentials (Elson, 1999). The earning differentiation and added discrimination means that an inherent negative gendering exists in markets.
A gendered market is almost always characterized by underreporting of women labour engagements. Census workers classifying the main occupation of men and women always tend to underreport the work done by female workers. For instance, in the case of agriculture, it is observed that the role of the women has almost always been understood with respect to less skilled or less impact works. In some countries for instance, the labor force’s participation of women with respect to agriculture is understood as a seasonal one. Women and their traditional role are considered in the context of their household and this work is often neglected as an informal one. This work is considered as unpaid work and such unaccounted of work leads to gaps in understanding household economy. Estimates were raised from around 17 European countries by researchers based on how much unaccounted-for housework can be traced from as early as the 1970s. Countries like Austria, Bulgaria, France, United Kingdom and Sweden were part of this study. It was estimated that women provide a large percentage of household services. From when women were just 20 years old, it was observed that women produce more household services than they consumed services. Men and children on the other hand are main beneficiaries of these services. Net time transfer by household working is almost always high on the women’s end, except in the case of Sweden where men on a comparative note provided more household care services from their 20’s to their 50’s. In such contexts, the monetary value of time spent by women in maintaining their family and household is neglected. Labour income is earned by women but thought their household efforts. This labour income and market value is not assessed properly. The current national accounting methodology in both developed markets and markets of medium income only consider those goods and services that are sold in the marketplace. In the case of goods consumers in the household, the national accounting methodology includes them, but in the case of services there is no inclusion. The current economic monitoring hence does not include women and their production of services.
Without institutional changes, gendered markets would be a problem for both micro and macro level efficiencies in the global market. A better labour market regulation has to be proposed with an understanding of implications for the globalized world.