Norway has remain at the top of the PwC Women in Work Index due to its low levels of female unemployment and low gender pay gap.

The index ranks 27 Organisation for Economic Cooperation and Development countries on a measure that combines five key indicators of female economic empowerment: the equality of earnings with men; the proportion of women in work, both in absolute terms and relative to men; the female unemployment rate; and the proportion of women in full-time employment.

Norway is followed by Denmark and Sweden. These three countries have consistently occupied the top three positions in the Index since 2000, the first year for which it has been calculated.

The economic crisis continues to take its toll on the absolute performance in the southern European countries. Portugal, Spain and Greece all saw their gender wage gaps widen and female unemployment rates increase in 2012, reflecting more general economic weakness in these countries.

The two Asian countries represented in this index, Korea and Japan, still have a long way to go before they catch up with the rest of the OECD.

Although these two countries have made progress in absolute terms since 2000, other countries have made even more significant gains. The relatively high gender wage gaps and low rates of female labour force participation underlie their poor performance.

The Netherlands and Ireland have made the biggest progress on the Index since last year, with both countries moving up five positions, due in large part to narrower gender wage gaps.

To mark International Women’s Day yesterday, PwC also released a report focusing on what organisations can do to create the right environment for millennial women to flourish in the workplace.

The report ‘Next generation diversity – Developing tomorrow’s female leaders’ identifies six key themes which are integral to the successful attraction, retention and development of the female millennial.