Financy Women's Index: January 2022 - March 2022 - still 59 years to equality
/Australia is currently ranked 50 on the global leaderboard of gender gaps, according to the World Economic Forum’s Global Gender Gap Index 2021 rankings. We’re still two generations away from economic equality.
With ongoing improvements in the gender gaps relating to employment, pay and unpaid work, the superannuation gap will start to close. Policy measures such as providing superannuation payments during government paid parental leave will also help.
Latest Financy Women’s Index update
Total gender equality is 59 years away, down from 100 years in December 2021 - improvements have been made in unpaid work, triggered by the change in gender dynamics during the pandemic.
Recent Household, Income and Labour Dynamics in Australia (HILDA) Survey data shows men did one per cent more work, and women did one per cent less work, resulting in an overall narrowing by 6.1 per cent in the FWX Unpaid Work sub-index across 2021 - the best improvement on record.
In another great leap for the March quarter, equality in superannuation is now 19 years away, instead of 31 years. The time to equality in the gender pay gap is 22 years, while in employment is is 28 years, down from 29 years.
The gender gap in underemployment is the worst-performing area, increasing to 15.5 years from 14 years. Time equality on ASX 200 boards is 6.5 years, with no change across the past two quarters.
