Gender Pay Gap
Definition: The unadjusted Gender Pay Gap (GPG) represents the difference between average gross hourly earnings of male paid employees and of female paid employees as a percentage of average gross hourly earnings of male paid employees.
The gender pay gap has seen a general decline in the past decade. However women still earn less than men. Unequal pay is a key indicator revealing inequalities between women and men in other areas. Gender stereotypes in education, in the labour market and at home create economic gender inequality.
Definition: Mean income shows the average income of men and women adjusted for purchasing power parity.
Men earn more than women, not just in wages but also from investments and other assets.
People at risk of poverty
Definition: Persons are at risk of poverty if their equivalized disposable income is below the EU threshold set at 60 percent of the national median income after social transfers.
Women in the Nordic region are at a slightly higher risk of living in poverty than men. For most Nordic countries both women and men's risk of poverty lies well below the EU average. Monetary poverty can lead to social exclusion and degrade quality of life. That is why Nordic reforms over the past 50 years have actively addressed economic gender equality.
Relative median income ratio (65+)
Definition: Ratio of the median equivalized disposable income of people aged above 65 to the median equivalized disposable income of those aged 65 years or below.
Later in life, women in the Nordics rely on less income than men. Some women are even living out their retirement in poverty. Smaller retirement savings are linked to the periods of time when women don't work or work part-time due to childcare or family care responsibilities. Even the gender gap in leadership positions lead to a gap in lifetime earnings.