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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

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Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Gender discrimination still driving force behind pay gap

By Cameron Micallef

August 22 2019
Share

Invest

Gender discrimination still driving force behind pay gap

By Cameron Micallef
August 22 2019

A rise in gender discrimination is the biggest contributing factor to the current pay gap and accounts for nearly 40 per cent of the divide in pay, a new report has said.

Gender discrimination still driving force behind pay gap

By Cameron Micallef

August 22 2019
Share

A rise in gender discrimination is the biggest contributing factor to the current pay gap and accounts for nearly 40 per cent of the divide in pay, a new report has said.

A joint report from KPMG and the Diversity Council Australia, known as She’s Price(d)less, has found that the pay gap between men and women remains “stubbornly high”.

The report’s findings estimated that a combination of gender discrimination, caring responsibilities, work participation as well as occupational and industrial segregation is costing women $445 million each week.

That equates to $23 billion per year.

Libby Lyons, director of the Workplace Gender Equality Agency, said stereotypes continue to shape the working lives and potential earnings of women.

“At the heart of each of these factors are stubborn gender stereotypes about the roles women and men play in both paid and unpaid work and family and caring responsibilities,” she said.

While women’s role in unpaid labour is one factor, the difference in pay is also significant due to industrial segmentation of the workforce.

According to the report, the average hourly wage gap between males and females is $2.43, based on 2017 statistics.

The average woman is earning $31.14 per hour, compared with the average man’s hourly earning sitting up at $33.57.

The report also found that the gender pay gap differs across states and territories. As of November 2018, Western Australia had the widest gender pay gap at 23.1 per cent, while Victoria and South Australia had the smallest at 9.3 and 9.4 per cent, respectively.

KPMG Australia’s national chairman, Alison Kitchen, outlined that addressing of these barriers is critically important to the development of Australian society and national economic growth.

“Solving the challenge of Australia’s gender pay gap is not only fair and sensible, it’s an economically responsible endeavour,” she said.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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