financial news .

Women Paid 24% Less than Men Globally

Women around the world are facing a huge wage gap when compared to their male counterparts. Globally women are paid 24% less than men doing the same work and in Asia women are paid 30% less.

In Asia 45% of working age women are outside the work force compared to 19% of working age men. Estimates by the International Labour Organization shows that gender inequality is costing Asia $ 45 billion a year. Furthermore, it is believed that if female and male employment were to be equal Gross Domestic Product would rise 19% in Southeast Asia and 27% in the Middle East and North Africa.

In Canada the gap in income between men and women is 19% as of 2013.

In 2013 the United States of America median weekly income of full-time workers was $860 for men, compared to $706 for women which puts the gap at 18%. According to the White House website Full-time womens earnings are only about 78% of their male counterparts which puts the wage gap at 22%.

The pay gap is even greater for African-American and Latina women. African-American women earn 64 cents and Latina women earn 56 cents for every dollar earned by a white non-Hispanic man.

75% of women who work around the world outside the home are employed in jobs where they do not have protected work, minimum wage guarantees and pensions which leaves them vulnerable to poverty in their old age.

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