This Tuesday, March 12, is Equal Pay Day in the United States. This date symbolizes how long into the following year women must work to earn what men earned in the previous year. Since women earn less, on average, than men, they must work longer (beyond the span of a year) to achieve the same salary as men.
The Equal Pay Day was established by the National Committee on Pay Equity (NCPE) in 1996 as a public awareness event to illustrate the disparity between men’s and women’s wages.
Despite the annual reminder for nearly three decades, the wage gap persists.
Women who worked full-time throughout the past year earned 84 cents for every dollar men earned, an increase from 83.7 cents the previous year, according to the latest figures from the Census Bureau.
However, this amount drops to 78 cents when seasonal and part-time workers are included. This results in a difference of $11,450 in earnings over a year, based on the average annual salary. For Black women, the wage disparity is even greater.
“Women’s participation in the workforce is at its highest in decades, and the wage gap between men and women is the narrowest it has ever been. However, despite this progress, the fight for equal pay continues,” stated President Biden in a statement released on Monday (911) by the White House.
Education Doesn’t Level the Playing Field
It’s not an issue of education, concluded the National Partnership for Women and Families through its analysis of Census Bureau data. Women with master’s degrees earn 72 cents for every dollar earned by men with the same degree and earn less than men with bachelor’s degrees. And women with associate degrees (2-year programs) earn less than men who only have high school diplomas.
Half of respondents in a 2022 Pew Research Center survey said they believe one of the main reasons for the persistent wage gap is that employers treat women and men differently. More than 40% pointed out that women make different choices regarding work and family.
Narrowing the Gap
However, the White House is focusing its attention on another factor in the wage disparity between men and women: the differences in the types of jobs and sectors where men and women typically work. The Biden administration has taken steps to narrow this gap through a series of initiatives, including encouraging employers in high-demand fields, such as construction, to recruit more women.
The number of women in leadership positions has been increasing. Last year, the Fortune 500 list of CEOs included a record 52 women, up from 44 the previous year. For the first time, women led just over 10% of Fortune 500 companies.
Source: NPR