The Women’s Index measures the financial progress of Australian women and economic equality.
Financial inequality is a major obstacle to the progress of women, families and future generations.
To help tackle this, each quarter the Financy Women’s Index (FWX) measures and tracks financial progress and economic equality across seven areas that are important to the advancement of Australian women.
The data and the commentary contained in each quarterly report is designed to give individuals, media, business leaders and government timely insights into the challenges and opportunities that relate to women’s financial wellbeing in Australia.
The Index is supported by Deloitte Access Economics, which provides economic modelling and analysis to assist with the development of the Index and Reports.
Data contained in the Report is reviewed by the Women’s Index Advisory Board; Dr Shane Oliver, Nicki Hutley, Roger Wilkins, Joanne Masters and Bruce Hockman. The Index is also reviewed by the Australian Bureau of Statistics.
The Index is very much made possible with the sponsorship support of Deloitte, OneVue and AMP.
Creative works are produced by We Are Why Pty Ltd.
Ultimately, the purpose of the Index is to help inspire women to live more courageously and confidently – to be Fearless.
Are things getting financially better for women?
Women are making financial progress despite the early setback in female job cuts relative to male in the June quarter.
The Financy Women’s Index rose by 2.2% to 74.1 points from a revised 73.3 points in June, which is about half the pace of progress recorded in the June quarter.
Improved female jobs growth, which was hardest hit compared to male by the onset of the pandemic and government shutdowns in March of this year, coupled with a fresh high in female ASX 200 board appointments helped to push women’s progress higher in the September quarter. A further narrowing of the gender gap in the underemployment rate also helped boost progress.
Whilst this result gives us more reason to feel optimistic as we approach the end of 2020, the situation remains highly volatile and time will tell as to whether COVID-19 has short or long-term impacts on women’s progress and economic equality.
What is the Index signalling for economic equality?
Despite the progress in the September quarter, the timeframe to Australia achieving economic equality is unchanged at a revised 32 years because of the gender gap in unpaid work.
The timeframe to economic equality is based on the worst performing gender indicator of the Women’s Index.
Economic Equality: Unchanged at a revised 32 years in September quarter3.
The gender gap in employment: Improved to 29% v 31% in June quarter 2020.
The gender gap in underemployment rate: Improved to 14% v 15% in June quarter 2020.
The gender pay gap: Unchanged 14% v 13.9% in March quarter.
The gender gap in superannuation: Unchanged at 31%. Last change 35% in September 2018.
The (reverse) gender gap in education enrolments: Narrows to 12%. Last change 13% in September 2018 with more female enrolments.
The gender gap in unpaid work: Unchanged at 34%. Last change 38% in September 2017.