Women's Pay Gap
In conclusion the wage gap due to gender impacts women negatively. The wage gap leads to poverty and effects women who are trying to retire as well. Women will make $430,480 less than men within a forty-year time frame of their career and if women are making less it can be harder for them to save their money (Glynn and Weller, 2017). Women not being able to save will set them up for economic failure if they do not have enough money for their retirement years. Your retirement is supposed to be when you get to enjoy life and be free from working.
You should not have to stress over money especially after working your whole life. Women have a longer lifespan than men and therefore need a larger savings. Not only will the close of the pay gap benefit …show more content…
women it would benefit the United States economy as well! According to the
Institute for Women’s Policy Research “The United States economy would have produced income of $512.6 billion more if women received equal pay; this represents 2.8 percent of 2016 gross domestic product (Milli, Huang, Hartmann and Hayes, 2017).
Women in poverty is another obstacle from the gender pay gap. If the gap was closed women would not endure as much poverty either. If women were to get paid the same amount as men it would boost their incomes on average yearly by $6, 250. This would bring the poverty rate to about half of what it is now
(Covert, 2014). This chart below demonstrates that if women’s pay were adjusted to the same amount men make the poverty rate would be cut in half.
1The Paycheck Fairness Act is a revision of the EPA exception to the prohibition for a wage rate differential based on any other factor other than sex. Limits such factors to bona fide factors, such as education, training, or experience
(Paycheck Fairness Act, 2014).
Some people believe that the gender wage gap simply doesn’t exist and that the earnings gap is simply based on the different choices women and men make in their careers. According to this view on the wage gap women choose to go with lower paying jobs while men seek for higher paying careers. But in fact this isn’t true. Women earn less than men even within the same occupation. This chart below demonstrates the significant gap in pay within the same …show more content…
occupation.
The gender pay gap in fact does exist and does not have to do with the choice difference the two genders make. The argument that the gap does not exist is a myth.
The gender wage gap can be closed with the right call action. Fifty-four years ago John. F
Kennedy signed The Equal Pay Act (EPA).
The EPA is that employers must pay both men and women the same amount of pay for the same within the same workplace. Although this act was implemented over a half a century ago the gap still persists. The reason is that are loopholes within this act. According to the EPA “employers may not pay unequal wages to men and women who perform jobs that require substantially equal skill, effort and responsibility, and that are performed under similar working conditions within the same establishment” (Equal Pay and
Compensation Discrimination, Pg.1). This makes it hard for women to prove that they are getting paid less than men. Employers can say that they simply were not putting in the same amount of effort as their male colleague and that is why they are being paid less. There needs to be a new law put into place to specifically stop employers for paying women less within the same occupations regardless of race or age. Also, The Paycheck Fairness Act1 that was introduced in
2014 needs to be passed. If the loopholes in The EPA are addressed a majority of women regardless of race, age, or profession would not have to endure the belittlement and hardships that the wage gap
causes.
You should not have to stress over money especially after working your whole life. Women have a longer lifespan than men and therefore need a larger savings. Not only will the close of the pay gap benefit …show more content…
women it would benefit the United States economy as well! According to the
Institute for Women’s Policy Research “The United States economy would have produced income of $512.6 billion more if women received equal pay; this represents 2.8 percent of 2016 gross domestic product (Milli, Huang, Hartmann and Hayes, 2017).
Women in poverty is another obstacle from the gender pay gap. If the gap was closed women would not endure as much poverty either. If women were to get paid the same amount as men it would boost their incomes on average yearly by $6, 250. This would bring the poverty rate to about half of what it is now
(Covert, 2014). This chart below demonstrates that if women’s pay were adjusted to the same amount men make the poverty rate would be cut in half.
1The Paycheck Fairness Act is a revision of the EPA exception to the prohibition for a wage rate differential based on any other factor other than sex. Limits such factors to bona fide factors, such as education, training, or experience
(Paycheck Fairness Act, 2014).
Some people believe that the gender wage gap simply doesn’t exist and that the earnings gap is simply based on the different choices women and men make in their careers. According to this view on the wage gap women choose to go with lower paying jobs while men seek for higher paying careers. But in fact this isn’t true. Women earn less than men even within the same occupation. This chart below demonstrates the significant gap in pay within the same …show more content…
occupation.
The gender pay gap in fact does exist and does not have to do with the choice difference the two genders make. The argument that the gap does not exist is a myth.
The gender wage gap can be closed with the right call action. Fifty-four years ago John. F
Kennedy signed The Equal Pay Act (EPA).
The EPA is that employers must pay both men and women the same amount of pay for the same within the same workplace. Although this act was implemented over a half a century ago the gap still persists. The reason is that are loopholes within this act. According to the EPA “employers may not pay unequal wages to men and women who perform jobs that require substantially equal skill, effort and responsibility, and that are performed under similar working conditions within the same establishment” (Equal Pay and
Compensation Discrimination, Pg.1). This makes it hard for women to prove that they are getting paid less than men. Employers can say that they simply were not putting in the same amount of effort as their male colleague and that is why they are being paid less. There needs to be a new law put into place to specifically stop employers for paying women less within the same occupations regardless of race or age. Also, The Paycheck Fairness Act1 that was introduced in
2014 needs to be passed. If the loopholes in The EPA are addressed a majority of women regardless of race, age, or profession would not have to endure the belittlement and hardships that the wage gap
causes.