OVER 60 per cent of Americans are living paycheque to paycheque over a prolonged era of rising inflation, according to a new Varo Bank analysis.
Women experience a more severe battle to make ends meet than males do, since they are “significantly more likely” to experience financial difficulties.
The Varo Bank report reveals that about 59 per cent of women find themselves living paycheque to paycheque, contrasting with 41 per cent of men.
Additionally, 67 per cent of women consider themselves financially fragile, indicating limited financial flexibility and support.
Contributing to this financial strain is the persistent gender wage gap, where women earn only 80 per cent of what their male counterparts do.
Women are also more likely to take on caregiving roles, leading to career breaks or part-time work, further exacerbating the wealth gap, especially for those nearing retirement.
Stacy Francis, a certified financial planner, and CEO of Francis Financial in New York, points out the challenges women face, including starting with less money, living longer, and incurring higher retirement costs.
Maggie Wall, Head of Diverse Growth Markets at Citizens, emphasises that enhancing financial literacy is crucial for women.
This includes seeking guidance from financial advisors to develop both short- and long-term plans.
TRANSPARENCY data indicates that the gender pay gap among civil servants narrowed to 9.6 per cent in the year to March, compared to the previous year.
However, the median gender pay gap widened for the first time in six years in 2021-22, with men earning 11.3 per cent more than women.
The 2022-23 figures, while an improvement, remain higher than the 8.1 per cent reported two years ago.
The Department for Work and Pensions reported a zero per cent pay gap for 2022-23, consistent with the previous year.
In contrast, the Cabinet Office, overseeing Civil Service HR and the Equality Hub, saw its median gender pay gap increase to 20.2 per cent.
Cabinet Office gender champion Elizabeth Gardiner expressed disappointment, attributing the rise to an underrepresentation of women in senior roles, resulting in decreased representation compared to the previous year.
“The deteriorating figures for this year require more detailed analysis and liaison with colleagues across the department, particularly in the professional groups,” she said.
THE England and Wales Cricket Board (ECB) announced the establishment of an independent cricket regulator in response to a damning report revealing issues of racism, sexism, classism, and elitism in the sport.
The Independent Commission for Equity in Cricket (ICEC) exposed “widespread” discrimination in June, leading to 44 recommendations.
Formed in 2021 after a racism scandal involving Pakistan-born bowler Azeem Rafiq at Yorkshire County Cricket Club, the ICEC triggered the creation of the new regulator.
Headed by interim director Dave Lewis, a former police officer, the regulator will monitor compliance with game regulations, including safeguarding, anti-corruption, anti-doping, and anti-discrimination.
An independent cricket regulatory board will oversee the body.
ECB chief executive Richard Gould stressed the importance of robust processes to enforce regulations, welcoming the changes.
He said: “It is important that the game has the best processes in place in order to enforce regulations. The ICEC Report recommended that we introduce further independence to the game’s regulatory process and the Cricket Regulator overseen by an independent Cricket Regulatory Board will do that.
“The Cricket Regulator is ring-fenced from the ECB, and that separation will ensure that their work is distinct from our work as the game’s promoter.”
NISSAN and Manchester City are strengthening their collaboration to assist City in the Community’s LGBTQ+ and disability programmes over the next two years, as part of Nissan’s ongoing commitment to community initiatives.
Nissan first worked with City in the Community in 2021, and it has been Manchester City’s Official Automotive Partner since 2014.
Also, Nissan has had a significant influence on the development of the One City Disability programme at City in the Community.
As part of their donation, Powerchair Football sessions will now have eight brand-new wheelchairs, giving young players more possibilities.
Since 2021, Nissan and City in the Community have worked together to effectively implement initiatives including the City in the Community’s Blue Run fundraising and the Nissan Possibilities Project, which aims to improve possibilities for people from marginalised populations.
Sam Dainty, Head of Partnerships and Fundraising at City in the Community, said: “Inclusion is embedded into City in the Community, and we are passionate about breaking down barriers to participation so people in Greater Manchester can achieve their full potential.
“Not only does Nissan align with our values but also allows us to further expand our work.”
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