A slowing Australian economy in the December quarter has put the brakes on women’s financial progress in 2022.
The Financy Women’s Index headline score slipped by 0.1 points to 76.2 points out of 100 in the December quarter to finish 2022, just shy of 76.3 points in December 2021.
Recent weakness in the jobs market under higher interest rates appears to have weighed on the Index during the December quarter, and in particular set back progress in closing the gender gaps in employment and underemployment.
The annual Financy Women’s Index score for the 2022 calendar year also fell -0.1 points, marking the first time in a decade that women’s financial progress finished a calendar year in negative territory.
Independent economist, Nicki Hutley says while the decline is marginal, the fact that women didn't benefit as much as men during the year from the economic stimulus from COVID, is an indictment of gender equality policies.