Good news as Index finds Australian women are progressing on many factors

Good news as Index finds Australian women are progressing on many factors

When it comes to jobs, pay, superannuation and education, progress is happening for Australian women.

But unfortunately the same isn’t true when it comes to the number of women on the largest boards in the country.

That’s according to the latest Financy Women’s Index, which offers a quarterly snapshot of where women are at by combining a number of key economic and opportunity measures, with the help of Data Digger.

It found the overall index has improved 0.8 percentage points to 111.7 in the three months to December 31.

The slight increase is due to a number of improvements for women.

The report finds that superannuation balances for women are now at an all time high, but that that women continue to have an average of 27% less in retirement savings than men.

Meanwhile, the gender pay gap was down to 15.27% in the December quarter.

When it comes to boards, the Index measures progress according to the top 20 ASX listed boards in Australia, which at a 30.9% female rate has remained relatively the same for the past two years. Company Directors data finds that the number of women on the boards of ASX 200 organisations is at its highest rate ever at 26.6%, however progressed has stalled and a 30% target by the end of 2018 is looking out of reach.

Changes are also occurring in education, with women enrolling in courses at a faster race pace then men, and female enrolments in courses like engineering and technology on the up.

“For the first time since its launch on International Women’s Day 2017, the Financy Women’s Index for the December quarter shows a strong correlation and growing trend between women choosing educational courses linked to higher paying industries,” said Financy Women’s Index founder and editor Bianca Hartge-Hazelman.

Nicki Hutley from Deloitte Access Economics said that while the progress mapped for women by the Index shows that change is slow, we should still be exited about the fact movement is occurring.

The Index data is based on more than 700 annual company reports, as well as data from the ABS, the ASX, the ATO and the Department of Education and Training.

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