Britain surpassed the average performance of OECD and G7 economies that year due to increasing female employment rates, narrowing the gender pay gap, and a reduction of the gap between male and female labour force participation rates.
However, despite this the country still lags behind on the number of women workers in full-time employment (30th place), and if historical trends continue, will take until 2041 to completely close its gender pay gap.
PwC economist, Yong Jing Teow, said: “It’s positive news that women in the UK have benefitted from the improving economy and there are now more women in work than ever before, but we still have a way to go.
“By fully closing the gender pay gap we could boost women’s earnings by £85bn, which is an average of £6,100 per woman per year.
“It’s not just about getting more women working, but also about getting more of them into high quality jobs that offer career progression and flexibility.”
The rankings for the index are based on countries’ gender pay gap, female labour force participation rate, gap between female and male labour force participation rates, female unemployment rate, and share of female employees in full-time employment.
The Nordic countries occupy the top three positions, with Iceland in 1st place, followed by Sweden in 2nd and Norway in 3rd, while Mexico was ranked bottom in the index, with Korea in 32nd place and Greece 31st.
The top 20 countries’ rank for 2015, and their 2014 position are shown below: