Title: Young Women’s Trust explains…the income gap
The income gap is the term we use to describe the difference between what an average young woman in work earns compared to the average young man of the same age per year. For young women, the gap starts early in their lives. And it affects what they earn through their whole lives, which just isn’t fair.
[0:18] It means that on average a young woman will earn around a fifth less each year than a man the same age.
[0:24] Why does this happen?
[0:26] There is no single reason, but some of the things that make a difference are:
- Young women are more likely to be doing unpaid caring work, like caring for their own children or younger brothers and sisters.
- Young women are more likely to be in part time jobs, or to be in lower-paid types of work, for example retail or childcare, and they find it harder to progress and get promoted than young men.
- Discrimination also has an impact. In our research, 42% of young women told us they had experienced discrimination while working or looking for work. This could include discrimination because of age, gender, the way a young woman looks, her ethnicity, a disability, mental health, or even the possibility she might have a child in the future.
[1:05] All these factors mean that young women are struggling. They are surviving, not thriving. And the income gap grows as women get older. Which is why we need to tackle this now. We want to build a world where young women have choices and fair financial futures.
[1:26] Find out more at youngwomenstrust.org