United Kingdom gender pay gap statistics can be misleading, equal pay

Women's long fight for equal pay and work opportunities is far from over, according to a report from World Economic Forum that estimates it will take another 118 years - or until 2133 - to close the gender wage gap worldwide.

The country's position in this year's Global Gender Gap Index jumped to seventh place from last year's ninth, with the Philippines and New Zealand the only Asia-Pacific countries making it to the top 10.

"The pay gap is still too wide and while we have more women in work, they are much more likely to be in lower-paid work, often without the stability and assurance that their job is secure".

The Global Gender Gap Index is constructed on the basis of the gap between men and women in each country across four sub-indices, namely, economic participation and opportunity, educational attainment, health and survival, and political empowerment. Women in countries like Iceland, Norway, and Sweden are healthier, more educated, and better represented in government and at the top of companies in comparison with men-sometimes with the help of quota systems-than just about anywhere in the world. It's created to capture levels of gender equality within a given country - whether men and women enroll in school at the same rates, for example - regardless of whether the country is richer or poorer than another.

The date in the Global Gender Gap Report was calculated based on "the rate of change on the economic gender gap and extrapolating it outward", Saadia Zahidi, a spokesperson for council, told NBC News.

Researchers found that the gender wage gap existed at every education level and in the majority of occupations, with the largest disparity among top earners.

The annual Global Gender Gap Index launched on Wednesday night, and the findings aren't hugely encouraging for female workers.

The decade of increasing gender gap from 2006 to 2015 measured by the WEF is also one where Indian politics saw women in powerful positions.

The country moved up two places after placing ninth in 2014.

Of the 109 nations that have been included in the report since it was launched in 2006, women's prospects have worsened in six countries: Sri Lanka, Mali, Croatia, Slovakia, Jordan and Iran.

Rwanda was ranked No. 1 for wage equality by the WEF, with a score of 0.88 out of 1.00 (1.00 being parity).

Meanwhile, businesses can set targets to recruit and promote women, introduce mentorship programs and establish transparent salary bands to reduce gender pay gaps, the blog post suggested.

In economic terms that number drops to just 3%, meaning that on average, women earn just over half of what their male counterparts do. It scores very highly in health and education, but a lack of women in parliament means it scores poorly for political empowerment.