2024-08-19 05:43:57
Australia’s gender pay gap – a key measure of economic inequality between men and women – has fallen to a record low of 11.5 per cent.
That was down from 13% a year earlier and the biggest annual drop since 2016. A decade ago, the figure was closer to 19%.
The latest data is good news for our economy and society – demonstrating that we are increasingly able to recognise and fairly value the abilities and contributions of women.
Today, women have more opportunities in the workforce, helping them achieve greater financial independence than in previous decades and maintain financial independence in retirement.
But national averages don’t tell the whole story. While the gender pay gap has narrowed in some industries, it’s widened in others.
Today, August 19th is Equal Pay DayThis means Australian women would need to work an extra 50 days after the end of the last financial year to bring their earnings on par with their male colleagues.
This provides us with a timely opportunity to reflect on what has driven progress this year and what work we still have to do.
Women’s income continues to rise
We compared the average weekly income Suitable for both men and women.
In dollar terms, women currently earn an average of $231.50, or 11.5%, less per week than men in full-time employment.
The recent narrowing of the gap is due to faster growth in average earnings for women. Early The narrowing of the gap is often due to slower income growth for men.
What’s behind the progress?
While changes in the gender pay gap reflect a range of economic factors, the Albanese government has been quick to attribute recent declines to a variety of factors. Targeted Action This is the time spent since taking office.
Let us see if and how these actions worked.
Firstly, the government has sought to increase transparency of salary information. It has banned pay secrecy clauses and now requires all major Australian companies to publicly report on their gender pay gap.
The reforms, which will take effect in 2023 and target private companies, are already having an effect, as the gender pay gap in the private sector, which was larger to begin with, has fallen faster than in the public sector.
Second, the government has targeted gender bias in industrial relations (including the legacy effects of past decisions) and made gender equality a new objective of Australia’s Fair Work Act.
The Fair Work Commission must now consider gender equality in its pay reviews, including its Minimum wage determination.
The government also introduced a multi-employer bargaining system in an attempt to strengthen the bargaining power of workers in female-concentrated industries.
As the Fair Work Commission conducts its review of the modern award system, the impact of these changes will continue to ripple through the labour market, with priority given to those impacted Female-focused industries.
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Third, to further address the historical undervaluation of “women’s work,” the government directly addressed the low wages in female-concentrated industries and supported raising women’s wages. Elderly care workers.
Targeting the issue of low wages and undervaluation in an industry where women account for approximately 87% of the workforce will help drive the momentum of reducing the overall gender pay gap.
The government’s recent wage hike Early childhood educators and care workers About 95% of the workforce is female. Once the policy comes into effect, it will also target gender patterns in low-paying sectors.
These government actions are critical to eliminating gender biases entrenched in the existing system. They also complement other initiatives implemented last year, such as Respect for Work Actrequiring employers to take the initiative to eliminate sexual harassment.
But there is still a long way to go to close the gender gap in every area of the workforce.
Some sectors declined, others rose
Breaking down the gender pay gap by industry can present a more diverse picture.
In industries such as construction, public administration and security, and retail trade, wage falls have been significant over the past two years.
But sectors such as healthcare and social assistance still have high rates, at over 20%, and finance and insurance at 18%.
In some industries, the gap has actually widened over the past two years. In arts and recreation services and electricity, gas, waste and water services, the gap has been growing.
This may reflect a larger shift
It is important to interpret these data carefully. In some cases, a widening gender pay gap could reflect positive changes in industry structure if it reflects more women joining male-dominated industries at entry level and developing senior female talent for the future.
Therefore, a Workplace Gender Equality Agency (WGEA) provides an opportunity for organizations to account for these dynamics. Employer’s statementThese data are published on the WGEA website, along with the gender pay gap for each organisation.
Over time, more women entering entry-level positions and advancing to senior and decision-making positions can improve gender balance.
The real test is to ensure they can do this, by fostering more gender-equal, inclusive and respectful work cultures and systems.
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