It’s Equal Pay Day!

Jump to Comments

Today (April 22) is this year’s Equal Pay Day, which means today is that day that women’s earnings finally caught up to men’s from the previous year (if women and men both started working on Jan 1, 2007, today would be the day that women’s wages would equal men’s wages on Dec 31, 2007).  It’s a bit confusing, I know.  But, the point is that women would have to work 16 months to earn the same amount of money men earn in 12 months.  So, let’s take this as an opportunity to learn a bit about the wage gap.

Here are some amazing, that is horrifying, wage gap facts:

• According to the latest data from the Current Population Survey, women made only 76.9% of what men made.  (This number is for full-time, full-year workers).
• When the wage gap is computed as lost earnings over a lifetime, women make only 38% of what men make.  This number is significantly lower than the 76.9% figure because it adds up earnings over the years, including the years women often leave work for childcare responsibilities.
• Recent research based on the American Community Survey has found that unmarried women make only 56% of what married men make, which is line with research that found men tend to earn more once they are married.  This also reflects the outdated belief that our economy rewards those who are in traditional families with male breadwinners.  It is clear that that is no longer the case with many marrying later and with both parents working.
• Research from the American Association for University Women has shown that the wage gap begins to appear as early as one year after college graduation.
• Lastly, as my boss would say, we have made much progress in closing the wage gap, but that progress has stalled in recent years.  The pay gap remains a crucial issue for women today.

What does all of this mean?  First, it is clear that the pay gap issue has not been resolved.  It is clear young women who believe that wage discrimination is no longer an issue are wrong.  For those younger women, the pay gap shows up early and those lost earnings mean that it will be more difficult for them to  save money to buy a home, pay off student loans,  save for retirement,  or fund graduate education than it will be for their male counterparts.  For some younger women, this financial disparity result increased pressure to get married to avoid the financial difficulties of living alone on smaller wages.  In a time where women’s independence and wealth has been celebrated by shows such as Sex and the City, that kind of life is remains a fantasy for most women because the pay gap means women are not being paid the kinds of wages that they deserve and that will enable them to live independently.  Eliminating the pay gap will go along way towards making life fabulous for women, whether they are living on their own or married.   Younger women are also more educated than their male counterparts, since they receive more Bachelor’s Degrees today.  It seems to make sense that the economy should be rewarding women for that extra achievement.  For women with families, eliminating the pay gap would improve family earnings, making it easier for parents to pay their bills, save for their children’s educations, and save for their own retirements.  For older women, the pay gap is an issue because they have less to live off of during the retirement years.  As workers, older women earned less than men resulting in reduced Social Security benefits and smaller pensions.  Since women often out live their male partners, reduced savings and lower benefits help contribute to the poverty faced by older women.  If the pay gap had been closed when they were younger, those older women would be better off in their old age, especially if they happen to be living alone.

Bottom line is this:  The pay gap continues to be a problem and it continues to affect women, regardless of their age or marital status.  In a time where we have a female candidate for present and the country seems more geared up for progressive change, its time to continue to push closing the wage gap as a major issue that if resolved, will help all women, all families, and therefore, all Americans.

1 Comment

Filed under Feminist Stuff

Tags: Equal Pay Day, Pay Gap