Extended Paid Parental Leave Set to Narrow Gender Pay Gap: Peak Union Body

The recent extension of paid parental leave from 20 weeks to six months will narrow the gender pay gap and bolster support for working parents, the peak union body says. New laws passed on March 18 will gradually extend paid parental leave for new parents by two weeks each year, starting from July 2024, until they can take 26 weeks off work by July 2026. It will see parents gain increased flexibility with the option to take four weeks off together, previously limited to two weeks. Over 180,000 families are expected to benefit from this initiative, costing the government around $4.4 billion (US$2.87 billion) annually in 2026/27. The Australian Council of Trade Unions president Michele O’Neil said women would reap significant benefits, as new mothers lose 55 percent of their income in the first five years after having a child....