Market Commentary

Women face 101-year wait for financial equality

Posted by Anton Murray Consulting on . Posted in Market Commentary


Women’s financial progress slowed in the December quarter, with the expected time frame to gender equality rising to 101 years. The Financy Women’s Index fell by 3 per cent to 74 points in the December quarter, as male employment recovered. Despite the global COVID crisis in 2019, the financial progress of women is heading in the right direction, Financy reported, although the index has predicted it will still take a century to achieve equality.

The wait has increased to 101 years, from its previously anticipated 100 years in September quarter, as the gap for unpaid work widened. The national gender pay gap is also expected to take 21 years before it closes and Australia achieves equality, while employment is anticipated to 33 years to rectify, 18 years for underemployment, seven years for women on boards and 38 years to close the gap for super. Bianca Hartge-Hazelman, author of the Financy Women’s Index commented: “Without significant change, it’s likely that women will continue to participate in paid work at a reduced capacity to men and this will affect women’s financial security and progress.”

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