/ default. aspx diversity is good for the bottom line disparities of this kind are unfair. they also make terrible business sense. diversity improves financial performance : across the economy as a whole, firms with top - quartile executive - level diversity are 20 - 30 % more likely to outperform their peers ( figure 3 ). and diversity reduces risk. research at the university of leicester found that an increase in the number of female traders in a market reduces the occurrence of crashes. 6 firms with monocultures suffer a quarter more governance - related issues than their peers, according to the fca. 7 and the imf found that banks with higher shares of women leaders had higher capital buffers, lower nonperforming loans, and higher ‘ distance to distress ’. 8 figure 3 : likelihood of financial performance above national industry median ( % ) source : ‘ delivering through diversity ’, mckinsey, january 2018. https : / / pdfs. semanticscholar. org / 88c1 / 6ee1ff277cd71340dd15980537174658016f. pdf https : / / www. fca. org. uk / news / speeches / women - finance - keeping - pressure - progress https : / / www. imf. org / en / publications / staff - discussion - notes / issues / 2018 / 09 / 17 / women - in - finance - a - case - for - closing - gaps - 45136 all speeches are available online at www. bankofengland. co. uk / publications / pages / speeches / default. aspx there are several reasons for these findings : first, recruiting a more diverse team means you are fishing in a bigger talent pool – so you should be able to choose a better team. second, more diverse teams make better decisions, because they have more ways to approach problems, and are better at self - challenge ; and third, diversity improves a firm ’ s connection to, and empathy with its customers. within a trading environment, research suggests that adding more women to trading teams tends to improve risk management, increase average returns, reduce the incidence of ‘ over trading ’ ( or trading for the sake of it ), and improve a team ’ s capacity to monitor for, admit to, and learn from past mistakes. but if diversity is so great, why has it taken so long for fx and other markets to begin to embrace it? we can only

economics and statistics nickell, s., 1979. “ education and lifetime patterns of unemployment, ” journal of political economy, university of chicago press, vol. 87 ( 5 ), pages s117 – 31, october. phillips a. w., 1958, “ the relation between unemployment and the rate of change of money wage rates in the united kingdom, 1861 – 1957 ”, economica. pissarides, c., 2000, “ equilibrium unemployment theory ”, massachusetts institute of technology, 2nd edition slacalek, j., 2005, “ productivity and the natural rate of unemployment ”, department of macro analysis and forecasting, diw berlin solon, g, r. barsky, and j. parker, 1995, “ measuring the cyclicality of real wages : how important is composition bias? ” q. j. e. 109 ( 1994 ), pp. 3 – 25. staiger, d., j. h. stock and m. w. watson, 2001, “ prices, wages and the u. s. nairu in the 1990s ”, nber working paper no. 8320. bis central bankers ’ speeches chart 1 : large flows into and out of chart 2 : growth of average wages weak in employment 2013, 2014 despite low unemployment source : labour force survey and own calculations source : ons, bank of england, niesr and hills, thomas, dimsdale note : aei until 2010 and awe since ; inflation expectations as implied by indexed gilt market ; 2014 diamond is for h1. chart 3 : compositional effects currently chart 4 : low skilled employment more weak, generally counter - cyclical cyclical in the us source : ons, labour force survey and own calculations source : u. s. bureau of labour statistics bis central bankers ’ speeches chart 5 : productivity growth very weak chart 6 : pay surveys better match for awe in recent years ex compositional effects source : ons, cbi and bcc source : ons table 1 : detailed questions in the labour force survey characteristics lfs question age how old are you? occupation what was your ( main ) job in the week ending sunday the [ date ]? tenure in which year did you start working continuously for your current employer? and which month was that? education this next section is about qualifications gained in the uk. please think about all qualifications you have ever gained [ in the uk ], even if it was a long time ago or you are