Disappointingly, the ACTU’s Gender Pay Gap – Over the Life Cycle report shows that whether given less pocket money as a child, lower wages as a graduate, a poorer household income in pregnancy and as a mother or much lower savings in retirement, girls and women still face overwhelming inequality and lack of opportunity.
Heritage Bank survey also reflects gender pay gap
In terms of pocket money, the ACTU’s findings mirror those of a similar survey conducted by the Heritage Bank in 2015. The Heritage Bank survey found the average pocket money earning rate of girls is $10.60 per week, while for boys it’s $11.80 per week.
“Almost half of parents surveyed believe the way their children receive and use pocket money has a direct impact on their relationship with money,” said Heritage Bank CEO Mr John Minz.
“With this in mind, it’s more important than ever for parents to give their kids the opportunity to have their own savings account and benefit from the opportunities it can offer.”
“In 2016, the findings in today’s report are just overwhelming. Young girls are still disadvantaged, women in the workplace are presented with constant barriers and older women face a poor retirement, possibly a retirement into poverty,” said ACTU President, Ged Kearney.
“A girl receiving 11% less pocket money than a boy is a simple indicator that we can all begin to make things fairer in our families.”