New data reveals 21.7% gender pay gap across Australia
The Workplace Gender Equality Agency (WGEA) published for the first time ever on Tuesday the gender pay gaps for nearly 5,000 private sector employers.
The data revealed a 21.7% gender pay gap across Australia, where women only earn 78 cents for every dollar earned by a man.
The findings also found that only 30% of employers have a median gender pay gap between the target range of -5% and +5%.
According to the report, 62% of median employer gender pay gaps are over five per cent and in favour of men.
"All employers should be aiming for a gender pay gap within +/-5%," said WGEA chief executive officer Mary Wooldridge in a statement.
"This range allows for normal business fluctuations and employee movements, while signifying that an employer has a focus on identifying and addressing inequalities and is taking action to ensure there is gender equality throughout an organisation."
Gender pay gap publication
The publication of the employers' gender pay gap comes after the government legislated it last year, saying it would boost transparency and equality in the workplace.
"The release of employer gender pay gaps marks a historic step towards transparency and accountability in addressing gender inequality," said Minister for Women Katy Hallagher in a statement.
"By shining a light on gender pay gaps at an employer level, we are arming individuals and organisations with the evidence they need to take meaningful action to accelerate closing the gender pay gap in Australian workplaces."
In Australia, the gender pay gap costs the economy $51.8 billion annually, according to the minister.
With the publication of gender pay gaps, Wooldridge said this marks a "catalyst for action and change."
"The time for talk and excuses is over. Change takes action and employers need to double down on ensuring all employees are fairly represented and equally valued and rewarded in their workplace," Wooldridge said.
