Women's pay lags as they often work for free, says new report

A woman's work is -- often unpaid. 

That's a key finding in a new report from Oxfam, an international organization focused on fighting poverty. 

Women in the U.S. typically spend two hours more per day than their male counterparts cleaning, cooking and doing other unpaid tasks. That adds up to more than 95 additional eight-hour work days in a year that women work for free.

If American women did receive a paycheck for that time, it could add up to as much as $1.48 trillion annually, Oxfam says. That figure soars to $10.8 trillion a year when women's unpaid work worldwide is given a value.

“Women and girls, who spend billions of hours cooking, cleaning, and caring for children and the elderly are the backbone of our global economy, yet benefit the least from it,” Paul O’Brien, Oxfam America's vice president of policy and advocacy said in a statement.

The disparity was  just one example of global inequities, Oxfam says, noting the increasing concentration of wealth in the hands of a few.

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The world's roughly two thousand billionaires are richer than 60% of the world's population, Oxfam says, and half of the world is surviving on $5.50 a day.

The report comes on the eve of the World Economic Forum, a gathering of global political and business leaders that takes place annually in Davos, Switzerland.