The Retirement Gap : The Effects Of The Gender Pay Gap

Simultaneously, the gender pay gap has financial effects not just on the women, yet their families too. Studies have shown that American families with children count on a women’s earnings as a massive part of their family’s income, and many are the head of the household. Data demonstrates that “seventy percent of mothers with children under 18 participate in the labor force, with over 75 percent employed full-time. Mothers are the primary or sole earners for 40 percent of households with children under 18 today, compared with 11 percent in 1960. Women’s participation in the U.S. labor force has climbed since WWII: from 32.7 percent in 1948 to 56.8 percent in 2016” (Dewolf). Now women make up more than half of the U.S. workforce, the gap in earning deciphers to $7968 per year in median earnings for a high school graduate, $11,616 for a college graduate, and $19,360 for a professional school graduate. By and large, this gap effects hundreds of millions of women and their families, and lag them back hundreds of thousands of dollars throughout their life.

After years of Civil Rights Movements and Pay Equity Acts, as of 2014, women still only make 79 cents to a man 's every dollar. Although the wage gap has shrunk since the 1970’s, progress has recently stalled and chances of it vanishing on its own is unlikely. The gains that American women have made towards labor market experience and skills is tremendous. In fact, women account for 47% of labor workforce and 49.3% of American jobs. But despite of women’s strides, a gender pay gap still exists. Experts suggest that it will take 100 years to close the gap at the rate employers and legislators are working to create solutions. But by allowing women to work in higher paying positions and by proposing and updating pay equity laws, the gender gap can finally be diminished.

The gender pay gap is the difference between male and female earnings averaged in percentages. This difference in pay due to gender seems like it would be an obsolete practice in the twenty-first century, but it is real and is affecting millions of women and households in the country. In 2014, women working full time in the United States were paid 79 percent on average of what men were being paid, which is a gap of approximately 21 percent. This means that in the United States, females earned 94 cents on average to every dollar earned by males. According to one study by the Department of Labor’s Chief Economist, a typical 25-year-old woman working full time would earn $5,000 less over the course of her working career than a typical 25-year old man working in the same career. The reason why this pay gap exists does expand into other factors such as education, experience, the work being performed, qualifications, age, and ethnicity which are taken into account. The studies being conducted on the pay gap has economists verifying that discrimination is the best overall explanation and factor of the difference in pay between males and females.

Women have made significant strides in society, proving themselves to be as capable as men in the workforce. However, while women are making equal contributions, men and women are not earning equal wages. Even though the Equal Pay Act was established in 1963, women continue to earn lower wages than men over half a century later. This inequality not only affects women as individuals but has a detrimental effect on the national economy. The gender wage gap in the United States should end because it is unjust; correcting it would have social and economic benefits for the U.S.

The gender pay gap in the United States forms a slightly mixed feeling. On one hand, after years of opposition to the earnings of women compared to men. There has been a large increase in women's earnings since the 1970s. The gender pay gap in the United States is measured through the female to male average yearly earnings for a full-time, year-round worker. Previously, a woman earned 77 cents for every dollar that a male gets. Since 1980, the gap has narrowed by 16.8 cents, improving from 60.2 cents to 77 cents, as stated by the Institute for Women’s Policy. The current pay gap between female and male is 82 cent for every one dollar. This growth is significant because it opposes the relative stability of the earlier incomes of a woman in the

Since the late 19th century, women have been struggling with the issue of not receiving the same amount of pay as men. The gender wage gap was not seen as a major issue until the 1960s, however, and unfortunately, it is still a major issue in our world today. (cite source). In the early 1900’s, World War I caused many men to leave their families behind to fight for their country. As a result of this, women had to take the responsibility of the male roles in the workforce. Women were expected to do the same jobs as men did before they were deployed, but were paid less to do so (cite source). This problem still exists in our world today. In 2011, it was proven that the weekly earnings for a female full-time worker is $684, compared

The most well-known limit placed upon women in a work setting is the wage gap, or the difference between a man’s salary and a woman’s salary. Authors dive into the subject of the current wage gap because of its presence in modern society, and one author who does speak out about the topic is Caroline Fredrickson. Fredrickson, president of the American Constitution Society for Law and Policy, writes in her book Under the Bus: How Working Women Are Being Run Over about how the gap between a man and woman’s salaries does exist in today’s progressive society. To argue her case, Fredrickson reveals, “In the past decade, women have not made any progress at all, with the wage gap overall remaining stubbornly at 77 percent…” (44). This gap of seventy seven percent implies that the majority of women are paid only seventy seven percent of what a man is paid in any given position.

The gender pay gap has an affect on the lives of women of all ages. In 2014, for full-time working women ages 20-24, there was an eight percent pay gap between men and women’s weekly incomes. Until age 35, the pay gap remains at about ten percent. After this age, women’s salaries grow much less than men’s. From the age 35 to retirement, women are earn between seventy-six and eighty-one percent of what

Even though men and women who work in the same work place doing the same exact job should be getting the same exact pay, also known as the Equal Pay Act of 1963, this matter is still a constant battle. For example, women earned 79 cents for every dollar that a man earns (whitehouse.gov). This statistic, referred to as the gender gap, has been reoccurring for decades and although the numbers have changed throughout the years, the gap

The gender wage gap in the U.S. has been a topic of debate in politics through most of the 21st century. In 2015, women were paid 80 percent of what men were paid (SIMPLE TRUTH). This number is considerably smaller than that of the 1960’s because of women’s progress in education and participation in the workforce (SIMPLE TRUTH). The wage gap can have adverse lifelong effects on a woman’s life. Because women are paid less than men, a woman will receive less social security, pensions, and other resources when they retire than a man would (Fischer & Hayes, 2013). There is a common stigma that women do not get paid as much as men because they do not ask for higher wages but not everything can be “explained

The gender wage gap is where men get paid more than women for doing the same job. The gender wage gap has been around since 1960, when women began working full time jobs outside the home. When the wage gap between women and men first became apparent, the issue primarily centered around discrimination against women as the “weaker sex”, a social stereotype. Today the issue has become more complex, involving American cultural norms and politics, and concerns that there are glass ceilings within businesses for women. As a result, many people are indecisive when it comes to taking a position on the matter while others are adamantly entrenched in their mind set. The fact of the matter is that women’s wages should match men’s wages whenever performance of duty is equal. The issue is that there should be equal pay for equal work. Wages should be based on education, experience, exposure, and location in that career field.

Women’s pay has long been a subject in the economic community and to a further extent society. With arguments being presented from both sides, but one thing cannot be disputed there is a gender based wage gap between women and men. Why is there a gap and how can society in the United States change that? First we must examine women in the workforce. Then ask why it happens then figure out how we can put an end to the pay gap.

economy has changed enormously. They are increasingly holding positions in management, and we are lead to believe the pay gap between men and women are now balanced. In 1963, President Kennedy signed the Equal Pay Act creating it a law that makes different pay wages illegal due to gender based work quality. In the 1960’s women in the United States earned an average of 59 cents for the dollar men made in equal positions. (Gender, Web). Today almost half of the workforce consist of women and are the main source of income in four out of ten households. A review of the year 2013 shows that female full-time workers only received 78 cents to the dollar earned by men (Pay,

Attached is the monthly communication from Michelle Keates, our Janney partner – The Retirement Income Gender Gap.

The gender pay gap is like global warming. Many people can’t see it or always feel its effects, but it is very much a real principle that needs to be addressed. It refers to the fact that in terms of doing the same job, a woman is paid 79 cents for every dollar a man earns, according to a statistic from the Washington Post. Those who earn less money in general and live in poverty are