American economist Claudia Goldin has won the 2023 Nobel economics prize for "having advanced our understanding of women's labour market outcomes," the Royal Swedish Academy of Sciences said on Monday.

Goldin is only the third woman to win the Economic Sciences Nobel after Elinor Ostrom in 2009 and Esther Duflo in 2019. 

Of the 54 Nobel Prizes in Economic Sciences that were awarded from 1969 to 2022 only 25 of the 92 winners have had the honour of getting the award as single recipients.

"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the official statement read.

"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."

The coveted award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns ($999,137).