What is Gender pay gap for women?

The gender pay gap is the difference in average earnings between men and women. Despite progress in recent years, a gender pay gap still exists in many countries around the world. This gap is a result of a variety of factors, including occupational segregation, discrimination, and the unequal distribution of caring responsibilities between men and women.

According to data from the World Economic Forum, the global gender pay gap stands at 16%, which means that women earn, on average, 84 cents for every dollar earned by men. The gap is even wider for women from minority and marginalized communities.

Research has shown that the gender pay gap is not only unfair, but it also has economic consequences. When women are paid less than men, they have less money to spend and save, which can impact their financial security and that of their families. Addressing the gender pay gap is not only a matter of fairness and equality, but it also makes good economic sense.

Efforts to address the gender pay gap include initiatives such as equal pay legislation, pay transparency measures, and the promotion of women's leadership and career advancement. Employers can take steps to ensure that women and men are paid equally for doing the same job and can address occupational segregation by recruiting and promoting women into higher-paid positions. Additionally, policies that support work-life balance, such as paid parental leave and flexible working arrangements, can help to reduce the impact of caring responsibilities on women's careers and earnings.