It is official! Women and men in Iceland will be earning equal pay. According to Bjarni Benediktsson, Iceland’s Prime Minister, companies now must report and show how they pay their employees equally. That means the same pay for the same work.
This announcement was made on Wednesday, March 8, International Women’s Day, at the Women’s Day summit in New York City.
Iceland’s law will apply to all organizations with more than 25 employees. Iceland is paving the way for other nations, becoming the first country to enact this type of regulation on a national level. Iceland is working to eliminate the gender wage gap by 2022.
The new legislation will be introduced by Iceland’s parliament later this month. Do you think more countries should step up like Iceland? Let us know!