Gender pay gap means women won’t earn from today
Due to the gender pay gap women who work full time will stop earning from today, meaning that they will effectively be working for free for the rest of this year. The day is known as Equal Pay Day and marks the average point at which women stop earning compared to men, and this year the day has arrived five days later than in 2014, showing that the divide is narrowing. With the hourly pay gap between men and women currently standing at 14.2%, the government has been urged to take action to bring pay level for men and women, otherwise it could be half a century before pay becomes equal at the current rate of change.
A report by the TUC found that the gap is greater for those at the top end of the earning scale, with the gap in pay being 45.9% for the top 5% of earners. The figure rises to 54.9% for the top 2% of earners, and the General Secretary of the TUC Frances O’Grady was shocked at how large the gender pay gap still was “at the top end of the labour market”, as equal pay and sex discrimination legislation has now been in place for four decades.