STOCKHOLM: The Nobel economics prize was awarded Monday to Claudia Goldin, a professor at Harvard University, for advancing the understanding of of the gender gap in the labour market.

Goldin is only the third woman to win the prize, which was announced by Hans Ellegren, secretary-general of the Royal Swedish Academy of Sciences, in Stockholm.

“Understanding women’s role in the labour market is important for society. Thanks to Claudia Goldin’s groundbreaking research, we now know much more about the underlying factors and which barriers may need to be addressed in the future,” said Jakob Svensson, chair of the Committee for the Prize in Economic Sciences.

Goldin does not offer solutions, but her research allows policymakers to tackle the entrenched problem, said Randi Hjalmarsson, member, prize committee.