Labour Markets

• Wage Differentials

  • Gap is higher for those over 40 as managerial roles are taken into account
  • Gender pay gap is larger among high earners
  • Women in full-time employment earned £17.88 while men earned £19.24
  • 85% of men work full time compared to 61% of women
  • Pay gap in technical occupations like mechanics, law enforcement increased by 1.5% from 2023 to 24
  • Only 35.8% of women aged 40-49 have full time managerial roles
  • Female actuaries/ economists earn 15.1% less than men
  • Women take lower pay in exchange for non-pecuniary benefits, engage in less wage bargaining and work less overtime
• Increase in the UK national minimum wage

  • High earnings are concentrated in the 40-49 range and financial services
  • The proportion of low-paid jobs in the UK has decreased by 18.4% between 1997 and 2024
  • 36.1% of low earners are aged 16-21 including 17% of accommodation and 12. % of occupations i.e waiter or cleaners
  • Average nurse makes £17.50 increasing the minimum wage for nursesmeans increased unemployment