Recent developments in Australia indicate a positive trend in addressing the gender pay gap. As of March 2024, the gap has narrowed by 0.6 percentage points, now standing at 21.8%. This means that, on average, women earn A$28,425 (approximately US$18,590) less annually than their male counterparts. Notably, over 56% of employers reported improvements in their gender pay gap, reflecting a growing commitment to workplace equality [1bb96eef].
Significant wage increases have been observed in sectors like aged care, where women make up 80% of the workforce. However, disparities remain stark, especially at the executive level, where female CEOs earn A$158,632 less than their male counterparts [1bb96eef]. In response to these ongoing issues, the Labor government is set to introduce legislation requiring firms with over 500 employees to establish measurable gender equality targets, aiming to further close the gap [1bb96eef].
This legislative push is part of a broader effort to promote gender equality in the workplace. The next pay report is expected in February 2025, which will provide further insights into the effectiveness of these measures and the overall progress in reducing the gender pay gap in Australia [1bb96eef]. Meanwhile, in the United States, the gender wage gap has been widening, with women earning only 83 cents for every dollar earned by men, a decline from 84 cents in 2022. This disparity is particularly pronounced among minority women, highlighting the need for continued advocacy and systemic reform [68843aa9].
As Australia takes steps to address its gender pay gap, the situation in the U.S. serves as a reminder of the ongoing challenges faced by women in the workforce globally. The contrasting trends in these two countries underscore the importance of sustained efforts and legislative action to achieve true pay equity [68843aa9].