B.C. women make less money than men and worry about it more: Survey

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As International Women’s Day approaches on Thursday, gender inequality remains a major issue in B.C.

That’s according to a new report by Vancity Credit Union that found B.C. women worry more than their male counterparts when it comes to their financial health.

Wealth Advisor Sophie Salcito says 5,200 people were surveyed across the country.

“B.C. women earn 35 per cent less annually than B.C. men. So B.C. women actually earn less than women nationally across the country,” she said.

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“Part of that is also to do than with unpaid work, so women still tend to do a little more of the child care, the senior work care, all that type of extra work that is also unpaid.”

The report says B.C. women earn $3,044 less in annual income than women in other provinces and territories across the country.

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It also states that 52 per cent of B.C. women experience “extreme emotional stress” and 59 per cent feel unsatisfied with their financial situation.

“When you think about housing affordability in B.C., and especially Vancouver it does tend to make sense. People are struggling here in B.C. dealing with affordability, the rent, the mortgages, the lines of credit payment… so B.C. women are showing definitely more [stress] than Canadian women on average.”
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The report recommends that businesses take a look at their promotion policies, and that the government introduce educational financial programs and continue to improve access to child care.

You can read the full report here:

Vancity Financial Health Report by Bailey on Scribd

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