As of 1 January, it is illegal to pay men more than women in Iceland.
The government of Prime Minister Katrin Jakobsdottir, pictured, has pledged to eradicate the gender pay gap by 2022.
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Iceland already uses the Equal Pay Standard, a set of rules and regulations which companies use to measure the gender pay gap within their establishments.
"The Iceland approach requires a great deal of intervention of government into private companies". Only 19.6% of the current US Congress is female, according to the Rutgers Center for American Women and Politics.
In terms of enforcing pay parity between the genders, it's no secret that the US has a long way to go (despite what some Red Pillers would have you think). "At this time, that seems highly unlikely", she continued.
But here's what gives the ruling some weight: Companies with over 25 employees that don't follow through will be fined. Childers said the initiative was halted when the Trump administration took office. Salary data at non-government organizations are collected through voluntary submissions or nonprofit surveys.
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In a new law implemented on Monday, Iceland effectively blocked businesses from paying men and women at different rates for doing the same job. Women in minority groups face a wider pay gap.
Despite its positive track record on gender issues, its wage gap hovers around 17%, and so they're looking to close the gap for good by passing the world's toughest law on the subject.
Iceland became the first country to guarantee equal inheritance rights regardless of gender in 1850. However, the process of narrowing the pay gap in the US has been slow.
The WEF reported last year reported an economic gap of 58 percent between the sexes and forecast women would have to wait 217 years before they earn as much as men and have equal representation in the workplace. What's worse, Black women will have to wait 2124, and Hispanic women will wait until 2233, to be paid equally. To obtain the certificate, employers are required to show that differences in wages for the same job are based on experience, performance or other considerations, and not gender.
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