The Women and Equalities Committee have launched an inquiry to inform Government strategy on reducing the gender pay gap, focusing on women aged over 40. The Chair and Committee are speaking to Radio 4’s Woman’s Hour today (4th November) at 10am.
Background to this inquiry:
‘The gap between all male and female employees currently stands at 19.1% (2014), measured by median gross hourly pay, excluding overtime. For all full time employees the gender pay gap is 9.4%, but there are wide variations by age and sector.
Younger women, from 18-39, in full-time work experience a very low or even reversed gender pay gap. ONS data shows the gap for hourly earnings growing from the age of 40 onwards. It is greatest for women in their 50s. This is partly due to the fact that half of women over 50 work part-time, and hourly wages for part-time workers are significantly lower than those for full-time employees.
The gender pay gap is not confined to those working part-time though. Women over 50 working full-time earn 82% of what men of the same age working full-time earn. Some of this discrepancy is down to occupational segregation. At present, two-thirds of women aged over 50 are employed in just three sectors: education, health and retail.’