Financy Women's Index

The Women’s Index measures the financial progress of Australian women and economic equality

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Financial inequality is a major obstacle to the progress of women, families and future generations

About Financy Women's Index

How we’re tackling Financial Inequality

The Financy Women’s Index (FWX) provides a broad picture of gender equality and women’s financial progress across the Australian economy each quarter.

The Index aggregates the latest available data from seven key areas to deliver an independent score and measurement of the progress being made to reduce the barriers to achieving gender equality.

The seven areas examined include unpaid work, fields of education and earnings outcomes, employment, underemployment, the gender pay gap, ASX 200 board diversity and the superannuation gender gap.

The Index is supported by Deloitte Access Economics, which provided the economic modelling approach and analysis to assist with the creation of the Index.

Data contained in the Report is reviewed by the Women’s Index Advisory Board; Dr Shane Oliver, Simone Cheung, Roger Wilkins, Joanne Masters, Nicki Hutley and Bruce Hockman.

The Index is made possible with the support of progressive organisations including Wisr, InvestSMART, Deloitte Australia, the Ecstra Foundation and Tech For Good Group.

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.

Lastest Results

Are things getting financially better for women?

Progress to gender financial equality reversed in the March quarter despite a significant win in superannuation savings for women which saw the gender gap narrowing by the most in over a decade, according to the latest Financy Women’s Index (FWX).

The FWX headline result fell 1.6% to 72.2 points during the quarter, from 73.3 points in the December quarter. The result was weighed down by a deterioration in the FWX Underemployment sub-index, which measures the gender gap in the underemployment rate. It declined to 63 points from 71 points, as progress in the male underemployment rate improved faster than that of female. Overall, the time to full gender equality Is 59 years, which is the same as the previous quarter.

Year on year, the FWX is down 0.9%, taking some of the shine off a more progressive 2021 and recent jobs recovery.

The biggest improvement in the FWX occurred in the Superannuation sub-index, which gained as the underlying gender gap in median lifetime balances narrowed to 25%, from 31%, based on the latest figures from the Australian Bureau of Statistics (ABS).

Key Results

  • The Financy Women’s Index (FWX) fell 1.6% to 72.2 in the March quarter, marking the worst start to a calendar year in a decade for gender equality progress.
  • A key driver of the result was a widening of the gender gap in underemployment as male employment outcomes improved 5 times faster than female.
  • On a more positive note, the superannuation gender gap in median lifetime balances improved to 25%, from 31% in December.
  • Years to equality in superannuation is now 19 years and the total timeframe to gender equality remains at 59 years, based on the worst performing area – unpaid work.

Financy Women’s Index by Quarter

Financy Women’s Index by Year

Years to Economic Gender Equality

The timeframe to achieving total gender equality in Australia remains at 59 years based on the worst-performing sub-index, unpaid work.

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FWX ADVISORY COMMITTEE

Meet the FWX
Advisory Committee

The Financy Women’s Index is supported by an Advisory Committee, who believe in the importance of measuring women’s progress to financial equality. The Committee meets regularly to discuss the data findings and the best way forward for the Index to ensure it is as reliable and informative as possible.

Nicki Hutley

Independent Economist
Nicki Hutley is a highly respected and sought after economist with a passion for social impact.

Simone Cheung

Partner in Deloitte Access Economics and leads the Health Economics and Social Policy team in NSW
She has over ten years of experience working in the intersection of government, private and the not-for-profit sector in improving health and social issues in Australia.

Bruce Hockman

former Chief Economist of the Statistical Services Group at the Australian Bureau of Statistics
Bruce has an economics degree from Adelaide University and he also did post-graduate studies at Macquarie University.

Prof Roger Wilkins

Deputy Director of the Melbourne Institute of Applied Economic & Social Research at the University of Melbourne
Professor Wilkins is also the Deputy Director (Research) of the HILDA Survey and produces the annual HILDA Survey Statistical Report.

Joanne Masters

Chief economist for EY Oceania region
Joanne has been an active part of the economic debate in Australia for the last 15 years. Passionate about driving discussions around forces that shape the economy.

Dr Shane Oliver

Chief Economist and Head of Investment Strategy at AMP Capital
Shane has extensive experience analysing economic and investment cycles and what current positioning means for the return potential for different asset classes.
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