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Monday, January 30, 2023

Men over 50 earn 30% more than women in UK (study)

Men over the age of 50 earn an average of 30% more than women of the same age in Britain, according to a study published on Monday, the biggest pay gap of any age group.

“Family responsibilities, which continue to fall disproportionately on women, mean they may be excluded from pay rises,” says Stuart Lewis, CEO of Rest Less.

These missed opportunities “accumulate over time, widening the pay gap” and it “can have devastating long-term consequences for women’s retirement and financial independence later in life,” it quoted in a statement .

By comparison, young people aged 18 to 21 have an average pay gap of 18%, which narrows to 12% by the age of 30 before increasing again throughout their working lives, according to the study, which draws on British data. based on. The Office for National Statistics (ONS) published at the end of October.

The data also shows that the median gross income gap across all ages narrowed by 5 percentage points to 19% over the past decade, but widened again nationwide during the pandemic, with the exception of those under age 50. With where it was a little underpowered.

Separately, the British government on Monday announced its intention to increase flexibility at work by helping employees “balance work and personal life”, particularly those “caring for children or vulnerable people”, according to a release. to help.

Telecommuting, shared position among multiple employees, flexible hours, distributed throughout the year or compressed into a few days a week: employees will be able to request adaptation of their work from the moment they want, according to the improvement the executive intends to carry out Hired, without waiting six months, as is the case today.

Employers will need to explore available options with their employees before denying a request for flexibility, and low-wage workers will no longer be bound by exclusivity clauses that bar them from holding multiple jobs.

od-acc/mb

AFP

Conocé Trust Project
World Nation News Desk
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