The gender pay gap in Australia has reached a new low of 21.7 percent, according to a report released by the Workplace Gender Equality Agency (WGEA). The report highlights that although progress is being made, there is still work to be done in achieving true gender equality in the workplace.
The 1.1 percentage point decrease from the previous year is the second biggest drop since the WGEA began collecting employer data in 2014. However, the report also reveals that every industry and almost three in four employers still have a gender pay gap larger than 5 percent in favor of men.
On average, for every one Australian dollar that men earn in Australia, women earn 78 cents. While the average annual pay difference between men and women has narrowed by $1,322, there remains a significant gap of $26,393.
The key driver behind the lowering of the gender pay gap is the increased representation of women in management positions and the upper pay quartiles. The report states that the proportion of women managers now stands at 42 percent, up from 41 percent in the previous year.
WGEA CEO Mary Wooldridge attributes this positive change to several factors, including increased discussion and debate around gender equality, a tight labor market, and impending legislative reform. These factors have collectively driven action on workplace gender equality over the past year.
While it is encouraging to see progress in narrowing the gender pay gap, it is evident that more needs to be done. Achieving true gender equality in the workforce remains a crucial goal, requiring ongoing effort and commitment from employers and society as a whole.
The WGEA report serves as a reminder that gender pay disparity is still a prevalent issue that impacts the lives of countless women in Australia. By fostering a culture of inclusivity and implementing comprehensive measures to address inequality, Australia can continue to make significant strides in achieving workplace gender equality.
