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Money news: Women’s pay, growth, house savings

In this money news that affects your hip pocket, women's pay, the state's powering along and saving for a house.

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In money news that affects your hip pocket this Monday

A new study has pointed blame at women over the reasons why many may be getting paid less on average.

According to Fairfax Media there’s mounting research that supports a view that women may be less inclined to ask for a payrise because they may be less competitive then me. The media report doesn’t really delve into time spent out of the workforce to care for children.

We note that women make up 46 per cent of the Australian workforce, but occupy just 23 per cent of boards seats and 15 per cent of CEO offices.

See more: Women pay attitudes

If you’re living in New South Wales or Victoria then you’re most likely part of the driving force behind the nation’s economy, particularly if you are renovating.

According to CommSec, mining states Queensland and Western Australia are no fuelling growth, instead the two south-eastern states are powering ahead thanks to population growth and housing construction.

See more: Stats on best performing states

And a report by Bankwest fnds that it takes first home buyers nearly eight years in Sydney, about six years in Melbourne and four years in Brisbane to save a 20% deposit for a median-priced house.

The report also found that overall it took an average 4.2 years for couples to accumulate about $100,000 needed for a 20 per cent deposit on a house in 2015.

See more: Bankwest house deposit report

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