The Global Payroll Association (GPA) has released new research predicting that the gender pay gap in the UK will shrink to its lowest level of 11.9% by 2025, with men earning 13.5% more on average than women.
The GPA's analysis of a decade's worth of data reveals significant progress in closing the gender pay gap. In 2013, the average hourly wage for men was £16.52, compared to £13.36 for women, resulting in a gender pay gap of 19.1%. Over the years, this gap has gradually narrowed. By 2019, the average hourly wages were £21.31 for men and £18.49 for women, reducing the gap to 13.2%.
Projections for 2024 suggest that men's average hourly earnings will reach £21.81, with women earning £19.11, equating to a 12.4% gender pay gap. By 2025, the gap is expected to further close, with men earning £22.30 per hour and women £19.64, resulting in a difference of 13.5% and a gender pay gap of 11.9%.
Melanie Pizzey, CEO and founder of the GPA, emphasised the importance of accelerating this progress:
"While it's encouraging to see the gap shrinking, it's happening too slowly. Employers must ensure equal pay for equal work to eliminate the gap entirely."
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