Women Disadvantaged: Austria Slips in Labor Market Equality
"Progress towards gender parity in the workplace remains sluggish," wrote PwC in the report release on Friday.
In Austria, only 66 percent of women work full-time. In the year 2000, this figure was still at 76 percent. For men, nine out of ten work full-time. Meanwhile, the wage gap remains significantly wide. A woman earns almost a fifth less than a man. Specifically, last year it was 18 percent less. This figure decreased only marginally by one percentage point compared to 2018.
"Despite a minimal improvement in the gender pay gap by one percentage point, the overall ranking remains weak," according to PwC. "Stagnant labor force participation, the rising unemployment rate of women, and still significant wage differences are the main reasons for the decline."
Luxembourg shows that it can be different. There, the gender pay gap is at minus 0.9 percent. This means that women there, on average, even earn more than men.
"Devastating Consequences"
"While other countries have made great strides after the pandemic, Austria lags behind in workplace equality," criticizes Agatha Kalandra, PwC Austria board member. "Despite small progress in the gender pay gap, Austria has fallen back in the ranking - with devastating consequences. Especially single mothers are threatened by old-age poverty and remain disadvantaged as pensioners. If the current trend continues, it will take almost 50 years to close the wage gap."
A higher labor force participation of women means not only social but also economic advantages. An increasing employment rate of women can sustainably boost productivity in Austria and strengthen the country's economic stability in the long term.
"The connection between workplace equality and economic growth shows that investments in gender equality are not only socially but also economically sensible," says PwC expert Johanna Schaller. "A larger and more diverse workforce not only promotes GDP but also economic innovation, reduces income inequality, and strengthens the skills base."
Equality in the Labor Market: Iceland in 1st Place
Iceland has moved up three places compared to the previous year and occupies the top position this year, followed by New Zealand and Luxembourg. This success is primarily due to comprehensive political measures and progressive programs to promote gender equality in the workplace.
Since the introduction of the index, the Nordic countries, in particular, have consistently led the rankings. More and more countries are adopting similar measures, such as comprehensive childcare and targeted government initiatives to promote pay equality and support for parents. Germany ranks 21st, Switzerland 20th - both neighboring countries perform significantly better than Austria.
(APA/Red)
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