Gender Pay Gap Widens As U.K. Loses Ground In Global Rankings
The UK slipped from 13th to 17th place in PwC’s annual Women in Work index of 33 OECD countries.
(Bloomberg) -- The gender pay gap has widened in Britain with men earning 14.5% more than women, according to a report — up from 14.3% the previous year.
The UK slipped from 13th to 17th place in PwC’s annual Women in Work index of 33 OECD countries.
“Over the last decade, the UK has consistently lagged behind the OECD on the gender pay gap, and at the current rate of progress it will take nearly half a century to close the gender pay gap in the UK,” said Tara Shrestha Carney, a PwC economist.
PwC said women earn on average 90 pence ($1.13) for every £1 earned by men from a similar personal and professional background.
The gender pay gap increases with age, the report said, with women between 46 and 65 years old experiencing more than twice the hit of women under 30. This is partly due to a “motherhood penalty” as women take on a bigger share of childcare.
“It’s crucial that working parents are properly supported — championing flexible and hybrid working, alongside progressive parental leave policies, is key,” said Ian Elliott, chief people officer at PwC UK.
The gender pay gap for all employees in the UK was 14.3% in 2023, according to the Office for National Statistics.
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
