Women may have to wait more than 50 years for equal pay, a new report has found.
The difference in the hourly pay gap between men and women is closing at a rate of just 2.5 pence per year, according to analysis by accountancy firm Deloitte based on data from the Office for National Statistics (ONS) in 2015. This means pay parity is not forecast to be achieved until 2069, or another 53 years, reports The Independent.
Deloitte’s study gives new insight into the reason that women’s wages lag behind. Emma Codd, managing partner for talent at Deloitte, found that the lack of women in certain industries and specific job is one factor.
The gap is widening in some occupations, such as teaching, while the difference in starting salary between men and women who have studied science, technology, engineering and mathematics (STEM) subjects and go on to take jobs in those spheres is far smaller.
“If more women study STEM subjects and pursue related careers they will increase their earnings potential in the early years of their working lives and – should they remain in their careers – the later ones. This in turn should serve to reduce the gender pay gap,” Codd said.
Despite David Cameron’s vow last summer to “end the gender pay gap in a generation”, the UK is still lagging behind the European average when it comes to gender equality at work, according to a Glassdoor study.
Sweden, Norway and Finland have the highest gender equality in the workplace. Italy, Greece and Ireland have the lowest scores.
