The gender inequality gap is costing Australian women millions in lost wages and changes are urgently needed, an equality taskforce has said.
The Women’s Economic Equality Taskforce told the government this week that Australian women will on average make almost $2 million less than their male counterparts over their lifetimes. Further, the economic gap caused by gender inequality is costing the Australian economy $128 billion (yep, you read that right — billion).
“Despite some progress over recent years, Australian women still face deep and broad-ranging gender inequality and continue to shoulder a disproportionate burden of unpaid labour across all spheres of life,” taskforce chair Sam Mostyn said.
“In the crudest economic terms, $128,000,000,000 is the value to the Australian economy that can be realised by purposefully removing the persistent and pervasive barriers to women’s full and equal participation in economic activity.
“This prompts serious inquiry into whether Australia has the necessary social and economic settings to support the modern lives we lead, and to be internationally competitive with an economy defined by its diversity, dynamism, resilience and ingenuity.”
The taskforce, set up by the federal government last year, has made a number of recommendations on how to boost women’s involvement in the economy. Recommendations include having the government engage with groups that can encourage women to enter typically male-dominated industries, invest in universal early childhood education and care, and ensure the minimum wage is a living wage.
However there are many challenges ahead, including overcoming the 30 per cent of Australian men who somehow still do not believe gender inequality exists, and Mostyn said recommendations would take a decade to implement.
“We have been clear in this report that the delivery of greater economic equality for women will require a decade of significant reforms,” she said.
“We have clarified that some reforms are urgent and demand immediate action, while others will be addressed in the near and long-term future.”
It is clear that removing barriers to equal participation can only benefit everyone, and now it’s over to the government to take the next steps.
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