To say that 2023 has been a challenging year feels like something of an understatement. Between the cost of living crisis, near-constant global uncertainty and the collective grief we’ve experienced from watching others around the world suffer, it’s been increasingly difficult to stay hopeful that things will get better.

And when our finances are tighter than ever, it feels like an even greater kick in the teeth to remember that this year, women will, on average, take home £574 less than men each month – an increase from £564 in 2022.

New research from the Fawcett Society, published today, marks Equal Pay Day 2023, the day when women effectively begin working for free due to the average gender pay gap. This year, among all employees in the UK, the average gender pay gap decreased to 14.3%, from 14.4% in 2022, according to the Office for National Statistics – and the pay gap is even worse for women of colour.

It’s a small improvement from the 17.4% seen in 2019, but progress to close the gender pay gap is still glacial and comes with shocking consequences.

Equal Pay Day 2023: women over 40 won’t see the gender pay gap close in their working lifetime