![]() And when accounting for all Latinas and Black women working, they typically earned 54 cents and 64 cents, respectively, for every dollar earned by white, non-Hispanic men. ![]() For example, in 2021, Latinas and Black women working full time, year-round typically earned 57 cents and 67 cents, respectively, for every dollar earned by their white, non-Hispanic male counterparts. The overall gender wage gap masks the economic reality of many women of color.Īs a consequence of intersecting racial, ethnic, and gender biases, many women of color-particularly Black and Hispanic women-tend to experience the largest gender wage gaps. ![]() The pay gap most acutely affects Black women and Latinas In fact, new estimates from the Center for American Progress show that the cumulative cost of the gender pay gap to women is $61 trillion since 1967.ĬAP analysis also shows that if the gender wage gap continues to shrink at the rate it has between the passage of the Equal Pay Act in 19, median full-time, year-round working women will not achieve pay parity with men until 2056-and all women, regardless of hours or weeks worked, will not achieve parity until 2052.* This will take even longer for working women of color. Despite these significant gains, today’s working women-and, most acutely, working Latinas and Black women-continue to typically earn less than their male counterparts and experience the negative consequences of a stubborn gender wage gap throughout their entire working life and into retirement. Sixty years later, women’s economic security has vastly improved, with women participating in the labor market at near-record rates and the gender wage gap reducing substantially. We also need policies that lift wages for most workers while also reducing gender and racial/ethnic pay gaps, such as running the economy at full employment, raising the federal minimum wage, and protecting and strengthening workers’ rights to bargain collectively for higher wages and benefits.On June 10, 1963, the Equal Pay Act was signed into law, protecting workers from discrimination, including pay discrimination, on the basis of sex. These include requiring federal reporting of pay by gender, race, and ethnicity prohibiting employers from asking about pay history requiring employers to post pay bands when hiring and adequately staffing and funding the Equal Employment and Opportunity Commission and other agencies charged with enforcement of nondiscrimination laws. There is no silver bullet to solving pay equity, but rather a menu of policy options that can close not only the gender pay gap but also gaps by race and ethnicity. Women with advanced degrees are paid less, on average, than men with bachelor’s degrees. Unfortunately, even with these advances in educational attainment, women still face a stark pay gap. In 2021, 37.4% of men and 43.8% of women had at least a college degree. By 2021, women’s educational attainment had surpassed men’s educational attainment. A quarter of men (25.1%) had at least a four-year college degree compared with 23.8% of women. Back in 1994, as progress toward closing the gender wage gap stalled, men were more likely to have a college or advanced degree than women. Over this period of pay gap stagnation, women have consistently increased their investments in education to increase their pay. Copy the code below to embed this chart on your website.
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