Women’s Equal Pay Day
Women’s Equal Pay Day marks the day into the year on which it takes for women on average to earn what men did in 2019. In other words, based on a typical workday, women start working without pay at about 2:40 p.m. every day.
The National Partnership for Women and Families says, “On average, women employed full time in the United States lose a combined total of almost $900 billion every year due to the wage gap. These lost wages mean women and their families have less money to support themselves, save and invest for the future, and pay for the things they need…Families, businesses and the economy suffer as a result.”
According to data by the National Women’s Law Center, women in the U.S. who work full-time, year-round are typically paid only 82 cents for every dollar paid to their male counterparts. NWLC identifies this gap as translating into $10,157 less per year in median earnings. Although enforcement of the Equal Pay Act and civil rights laws have helped narrow the gender wage gap over time, it has not eliminated it. As the Covid19 crisis has shown, addressing the continuing pay disparities is critical for economic security.
Women make up about 47 percent of the overall workforce, yet make up 58 percent of the low-wage workforce, defined as those working in jobs that typically pay less than $11 per hour. They make up 69 percent of the very low-wage workforce—those working in jobs that typically pay less than $10 per hour, according to data by NWLC.
Across all occupations, low or high wage, and even in occupations where women are overrepresented, they experience a wage gap. This impacts retirement savings, families well-being, and the greater economy.
Even women who climb their way to corporate America’s highest ranks are paid less than their male counterparts, new research confirms.
Iceland’s equal pay for equal work system is still in the early stages, but initial signs suggest that requiring organizations prove they compensate employees fairly may be very effective.
In North American academia and industry, female scientists with PhDs earn substantially less than do their male counterparts, find two reports that examine wages in the United States and Canada.
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