UK: 80 PERCENT EMPLOYERS PAY MEN MORE THAN WOMEN

Sun 09 Apr 2023:

A Financial Times analysis found that nearly 80% of employers in the UK pay men more than women on average in their organization, which is a damning report in the current climate. It went on to say that the percentage figure had gotten worse since mandatory gender pay gap reporting began six years ago.

“The data showed that 79.5 per cent of employers had a gender pay gap that favoured men in 2022-23, higher than the figures collected both last year and six years ago,” according to the publication.

The average wage disparity between men and women stood at 12.2 percent in 2022-23, up from 11.9 percent in 2017-18.

The stubborn inequality persists across different sectors. The pay gap increased in transport and administration last year and remained highest amongst employers in the educational setups. The average pay gap in the sector stood at a whopping 23.2 per cent.

The finance sector did not fare any better as the average pay gap stood at 22.7 per cent in 2022-23. Lloyds Banking Group and NatWest Group were the biggest culprits as the pay disparity gap stood at 34.8 per cent and 31.6 per cent respectively.

“There are comparatively more women in junior roles, and more men in higher-paid leadership roles . . . this is the main source of the overall pay gap, as the lower number of senior women brings down the average pay for these colleagues,” Lloyds said attempting to rationalise the findings.

According to a UN report, for every dollar that a man makes across the world, a woman only makes 77 cents due to the growing pay disparity between the two genders.

Despite the best efforts of fair-pay activists and business groups, the figures show that the battle is far from over. Organizations may be fighting for gender equality in the workplace, but they haven’t done nearly enough to address the gender pay gap.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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