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No safety net for UK’s worst paid women

By April 9, 2018National News

Millions of working women face financial insecurity, according to new research conducted by the Living Wage Foundation and the Fawcett Society for International Women’s Day.

A poll of women earning below the real Living Wage, conducted by Survation, found that of working women paid less than the real Living Wage of £10.20 an hour in London, and £8.75 outside of London (a quarter of all working women):

  • A third (33% or 1.12 million women) have no savings at all, including pensions
  • Nearly half (43%) have less than £100 saved, too little to cover a financial emergency
  • If they were to lose their job
    – 61% have savings for a month or less
    – 33% have savings for less than a week
  • If their bills were to increase:
    – 49% would cut down on food
    – 41% would cut down on heating
  • 39% have more than £500 of debt, while 31% have more than £1,000 of debt
  • Over a quarter (25.1%) are spending more than £100 servicing debt each month.
  • 94% worry about their financial situation
  • 66% do not see their financial situation improving within a year

You can read the full report here

Another recent report, Low Pay in the Charity Sector, also by the Living Wage Foundation, found that 30.4% of females in the charity sector earn less than the Living Wage, compared to 21% of males.

Overall, it found that more than a quarter of charity workers are not paid enough to live off.

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