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The Gender Pay Gap Has Hit A Record Low

We still have a LOT of work to do

Australian Bureau of Statistics (ABS) figures released today show that the national gender pay gap has again dropped, reaching its lowest point in over 20 years, seeing a record high of women in full-time work. 

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Using the latest ABS Average Weekly Earnings trend series data, the Workplace Gender Equality Agency (WGEA) has calculated the national gender pay gap as 14.1% for full-time employees, a difference of $239.80 per week. On average, women working full-time earned $1455.80 while men working full-time earned $1695.60.

Financy attributes the drop in pay gap to a record high in the number of women in full-time work. There are now over 5.5 million men in full-time work as of this January, compared to 5.49 in December, the outletโ€™s statistics show

RELATED: Australiaโ€™s Gender Pay Gap Is The Lowest In 20 Years

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Libby Lyons, Director of the Workplace Gender Equality Agency, welcomed the news.

โ€œThis latest drop in the national gender pay gap supports the results from the Agencyโ€™s own data. Over the five years of reporting, there has been a strong increase in employer action on gender equality. As a result, we are seeing some real improvements,โ€ Lyons said via a statement on Thursday. 

โ€œMore employers are analysing their pay data for pay gaps. More employers are then taking action to ensure women and men are equally rewarded and remunerated. These actions by Australian employers are a key contributing factor in the ongoing decrease in the gender pay gap.โ€

Despite this positive result, Ms Lyons also said that the national gender pay gap remains an important reminder that women continue to face significant barriers in the workplace, particularly in terms of pay. โ€œHowever, we have to keep our foot on the pedal and maintain momentum. I now want to see all Australian employers take action on addressing pay equity,โ€ she added. โ€œIt is not hard. Do a pay gap analysis. Develop an action plan with targets. Report the results to the executive and board and monitor your progress. It is that easy. If every employer did this, we would close the gender pay gap pretty quickly.โ€

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RELATED: The Gender Pay Gap Is Narrowing But Weโ€™ve Still Got A Long Way To Go

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The national gender pay gap is the difference between womenโ€™s and menโ€™s average weekly full-time ordinary time earnings, expressed as a percentage of menโ€™s earnings. It is a measure of womenโ€™s overall position in the paid workforce and does not compare like roles.

RELATED: A Labor Government Would Force Companies To Reveal Gender Pay Gap

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The new ABS data also showed the main factors contributing to the gender pay gap, including: 

  • Discrimination
  • Women and men working in different industries and different jobs, with female-dominated industries and jobs attracting lower wages
  • Womenโ€™s disproportionate share of unpaid caring and domestic work
  • Lack of workplace flexibility to accommodate caring and other responsibilities, especially in senior roles
  • Womenโ€™s greater time out of the workforce impacting career progression and opportunities.

Lyons finished, โ€œThe gender pay gap is a symptom of a broader cultural problem in our workplaces. It reflects that womenโ€™s work is traditionally undervalued and women are under-represented in senior executive and management roles. Average full-time salaries are lower for women than men in every occupation and industry in Australia and female-dominated occupations and industries attract lower pay than male-dominated ones.โ€ 

WATCH: The Most Powerful Australianโ€™s Of 2018. 

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