Analysis by the Trade Union Congress (TUC) shows that the gender pay gap is almost 15% and widens "dramatically" after women have children. The report also reveals that women effectively work for free for 54 days due to the discrepancy between what men and women are typically paid. Women aged between 50 and 59 have the highest pay gap of 20.8%, while for those aged 60 and over it is 18.4%. The gender pay gap is largest in the South East of England (17.9%) and East of England (17.5%). TUC analysis of official data shows that the gender pay gap has fallen by an average of 0.4 percentage points a year since 2011. At the current rate of progress, it will take until 2044 for pay parity to be achieved. TUC general secretary Paul Nowak said: "Working women deserve equal pay, but at current rates of progress, it will take more than 20 years to close the gender pay gap.” He added: “It's clear that just publishing gender pay gaps isn't working. Companies must be required to publish action plans to explain what steps they'll take to close their pay gaps, and bosses who don't comply with the law should be fined.”
Read more: The Independent
Visit Our Website Here To Apply & Learn More
Explore Your Finance Options Here.
Visit our website for more news and product information, or click the button below to submit a short enquiry form for your finance needs.
Comments