Closing the gender pay gap

In 2021 the Workplace Gender Equality Agency (Agency) conducted a review (Review) of the Workplace Gender Equality Act 2012 (Act). The report resulting from the Review was released in March 2022 and contained several recommendations with the objective of reducing the gender pay gap. The data from 2021 and 2022 showed that the rate at which the gap was closing was the same for both years, stalling at 22.8%. In 2022, the gender pay gap in Australia was 14.1% and it is estimated this alone represents a differential of approximately $51.8 billion per annum.

What does 'gender pay gap' mean and how is it different to 'equal pay'?

Closing the gender pay gap is more than just ensuring that men and women receive equal pay. Unequal pay is only one of many social and economic contributors to the gap. The Agency defines 'equal pay' to mean "when men and women receive equal pay for work of equal or comparable value" which takes into consideration discretionary pay,