Australian News / 08 March 2023
Shining a light on the gender pay gap
It’s International Women’s Day today, and right on time, the Coalition’s agreed to support Albanese Government legislation (paywall) that aims to help close Australia’s gender pay gap. The new law would require companies with over 100 employees to publish their gender pay gap data. That may be embarrassing for some companies with the latest data showing that for every dollar earned by a man working full-time, their female counterpart makes 87c. It’s a measure supported by the Business Council and Chamber of Commerce and Industry. There’s also been some interesting international data released – according to Moody Analytics, closing the gender pay gap in OECD countries would boost the global economy by 7% – in terms of a dollar figure, that amounts to about $7 trillion… That’s trillion with a T.
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