Gender Pay Gap Persists
It is sobering indeed to find that in the 21st century,women work for less pay. This, according to the World Economic Forum is likely to persist for a century. The problem has not improved since 2008 – the beginning of the financial crash. It is too soon to tell whether the two things are linked. Of course global statistics will skew the domestic situation here in the UK – or so you would think. In fact, the UK lags behind several other European nations and even places as far flung as Rwanda and Philippines have greater parity. Of course these places are beset by perhaps far greater social problems but it is troubling nonetheless. Klaus Schwab the chairman of the WEF highlights that inequality will become less tolerable as computers dominate the economy. Contributions can be more easily measured in the technologically advanced workplace and the gap between men and women doing the same job is a staggering 40% across the globe. In fact the latest figuresindicate that a man’s average salary iscirca$20,000 with a comparable woman earning just $11,500. We also hear of more high profile cases in the film industry, where there can be a difference of millions between the pay of male and femals actors.Those at the bottom of the economic cycle are likely to be hit thehardesthowever, and this is of concern for empowerment and social mobility. Moves are afoot in the UK to compel businesses to publish gender pay gaps since voluntary disclosure is unattractive to some. The Government must introduce regulations by 26 March 2016. Watch this space.