Nobel economics prize awarded to U.S. economist Claudia Goldin for work on women in the labor market

The Nobel economics prize was on Monday awarded to Professor Claudia Goldin of Harvard University for her research on women in the labor market.

Goldin provided the first comprehensive account of women's earnings and labor market outcomes through the centuries, the Nobel committee said in the prize announcement while announcing the prize. Her research reveals new patterns, identifies causes of change but also speaks to the main sources of the remaining gender gaps.

The winners of the award, which is officially titled the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, receive 10 million Swedish krona ($907,000) between them.

Last year's prize went to U.S.-based economists Ben Bernanke, Douglas Diamond and Philip Dybvig for their work on banks and financial crises.

The Nobel committee said their research in the early 1980s had "significantly improved our understanding of the role of banks in the economy, particularly during financial crises," and in showing the importance of avoiding bank collapses. They added this was "invaluable" during the 2008-09 financial crisis and the Covid-19 pandemic.

This is a breaking news story, and it is being updated.