Why Equal Pay Really Matters: The Stats You Need to Know

The data on equal pay for women is appalling.

According to UN Women, "The gender pay gap stands at 20 per cent, meaning women workers earn 80 per cent of what men do." For women of colour, migrant women, those with disabilities, and women with children, the gap is even greater.

The cumulative effect of pay disparities has real, daily negative consequences for women, their families, and society, especially during crises. The widespread effects of COVID-19 have plunged up to 95 million people into extreme poverty, with one in every 10 women globally living in extreme poverty. If current trends continue, 342.4 million women and girls will be living on less than $2.15 a day by 2030."

A report from the Institute For Women’s Policy Research found that if women were paid fairly, single women’s income would rise by 13.4 percent, single mothers would earn 17 percent more, and married women’s income would increase by 6 percent. These wage increases would reduce levels of poverty for single mothers by over 50 percent. This would greatly increase the ability of women from all economic backgrounds to provide basic support to their families, including food, education, and child care.

Did you know...

Women also dothree more hours of daily carework  than men, globally.
The motherhood penalty exacerbates pay inequity, with working mothers facing lower wages, a disparity that jumps as the number of children a woman has increases.
In 2021, women’s unemployment rose to nearly fifteen percent, and globally women lost over $800 billion in wages.
At current rates or pay inequality, we risk leaving more than 340 million women and girls in abject poverty by 2030, and an alarming 4 per cent could grapple with extreme food insecurity by that year.
Women make up 67 per cent of workers providing essential health and social care services globally
It will take almost 300 years to achieve economic gender parity.
1.1M Women are still out of the labor force since the pandemic.
A woman with a bachelor’s degree or higher can lose $713,000 over the span of a 40-year career
It is estimated that only 28 per cent of women employed worldwide get to enjoy paid maternity leave.
Globally, nearly 65 percent of people above retirement age without any regular pension are women.
Nearly a third (31%) of women say they value female mentors in the workplace, and 45% said they’d consider turning down a job offer if the company lacked either female leaders or female employees.