Gender pay gap hits record low

Money Magazine
21/9/2023

Recent data shows a significant upswing in female workforce participation, resulting in remarkable progress towards narrowing the gender wage gap. Over the past year, female full-time employment surged by 6%, with a record high participation rate of 62.6%. This positive shift has driven the gender wage gap to its lowest point at 13.0%, down from 13.9% pre-pandemic.

Flexibility in work arrangements and rising living costs are driving women to join the workforce. With a tight labor market and inflation, it's prime time for women to ask for fair pay hikes. Employers are more likely to negotiate as skills are scarce and unemployment at a 50-year low. Beyond salaries, women can seek educational opportunities and enhanced leave options, including maternity and menstruation-related leave. Flexible working hours and work-from-home choices are vital too, as they help balance domestic responsibilities.

Read the full article here.
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