Australia’s gender pay gap has remained at its lowest point in 20 years at 14.0% but the bad news is that in order to make the same amount of money as men did last financial year, Australian women would have to work an extra 59 days.
New data from the workplace gender equality agency reveals that Equal Pay Day will be on the 28th August this year, marking the extra days from the end of the previous financial year that women would have to work on average to earn the same amount as men earned that year.
2019 Key Facts
- The national gender pay gap is 14.0%. It has declined from 14.1% in the past 6 months.
- On average, women working full-time earned $1484.80 while men working full-time earned $1726.30.
- Full-time average weekly earnings difference between women and men is $241.50
Why the gap matters
The gender pay gap matters because it measures the extent of the barriers women face in the workforce. Women’s full potential in the workforce is not being realised and this is costing individuals, families and the Australian economy.
The gender pay gap is a compounding economic issue that results in women retiring with around 40% less superannuation than men, which has a knock-on effect on their ability to live comfortably in retirement and pay for aged care.
So ladies AND gentlemen, it’s time to tackle the ‘gap’ focus on why closing that ‘gap’ is important and if you’re brave enough, invite some open discussion in your workplace or over a glass of wine, but don’t let it slip by for another year.
