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Gender discrimination still driving force behind pay gap

By Cameron Micallef · August 22 2019
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egg

Invest

Gender discrimination still driving force behind pay gap

By Cameron Micallef
August 22 2019
Reading:
egg

Gender discrimination still driving force behind pay gap

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By Cameron Micallef · August 22 2019
Reading:
egg

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.

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“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.

Gender discrimination still driving force behind pay gap
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About the author

Cameron is a journalist for Momentum Media's nestegg. 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 leveraging their insights to grow your portfolio.

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About the author

Cameron is a journalist for Momentum Media's nestegg. 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 leveraging their insights to grow your portfolio.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

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