Australia's Gender Pay Gap: A Deep Dive

0:00In Sydney, it's March 17, and here's what is going on. Australia's gender pay gap sits above 11%, according to the latest workplace gender equality agency figures. Women in that with smaller superannuation balances at retirement are less likely to own homes and hold less overall wealth than men. On top of that, women face higher financial stress. In 2024, 23% struggle to pay bills on time, cover mortgages, or even afford meals, based on a major household survey that's nearly one in four women. These issues hit business ownership too. Women are less likely to start companies, and when they do, they're often in lower profit sectors with weaker survival rates. Limited collateral makes loans harder to get, slowing growth. The gaps build over time, cutting borrowing power, and delaying wealth building. It ripples out, reducing job switches, productivity, and increasing public service needs. Recent policies help, like superon parental leave since last July, and pay boost in

1:04childcare and age care, mostly benefiting women. Those changes cost big $3.6 billion for early childhood wages over two years, and nearly $18 billion over a decade for aged care. Looking ahead, extending super to under 18 girls and part-time jobs could make a cheap difference, while everyone encourages financial know-how. For women, this story is made possible by our sponsor, see the episode description. Press play. Put your head down. The sound is already there. S-O-L-I-SollyPillow.com.