Brutal Gender Pay Gap: Women Poised to Earn $590K Less Over a Lifetime
On behalf of Rager Law Firm posted on May 04, 2019
Equal Pay Day, which went down on the books this year on April 2, marks the day of the year when women’s earnings—combined with their earnings for the former year—finally catch up with men’s earnings for the previous year. And despite awareness into the issue of women being paid less for the same work performed by men, things are slow to change. A recent writeup by Chris Wilson in Time magazine says it all: the pay gap between the sexes is brutal, especially when looked at over the course of a lifetime.
The gap between what women make and what men make when they take on identical jobs in this country is, according to Wilson, “an ugly disparity.” Although there are various estimates—depending on who you ask—most economists and researchers agree that women earn somewhere in the neighborhood of 79 percent to 85 percent of what men make. The gap varies significantly based on industry and type of income, but from all angles, there’s a gap there that makes no sense.
And, Wilson says, for the median worker at least, the gap gets larger the more money the worker makes and the older the worker gets. Wilson point to a Bureau of Labor Statistics (BLS) report for 2018’s fourth quarter. The report shows that the pay gap in weekly earnings is an astounding 87 percent for full-time wage and salary workers from ages 25 to 34. For an older demographic—women ages 55 to 64—the gap grows larger; they make on average just 75 percent of what their male coworkers of the same age bring home. Based on these figures, a woman who works from age 16 and retires at age 70 will earn $590,000 less than a man doing the exact same job over the course of her lifetime.
The Paycheck Fairness Act
If some legislators have their way, the wage gap may be closing sooner than you think. The Paycheck Fairness Act, which was passed through the House of Representatives this month, looks to limit the reasons that employers can decide not to provide equal pay under the Fair Labor Standards Act of 1938. It would effectively ban employers from asking employees for salary history, and it would require that companies report the salaries they pay their employees, organized by sex, ethnicity and race.
Paid Less Because You’re a Woman?
Director of Employment and Earnings at the Institute for Women’s Policy Research, Ariane Hegewisch, says that up to 38 percent of the wage gap may be accounted for purely by discrimination. Rager Law Firm believes that’s 38 percent too much. We believe that women who do the same jobs men do deserve the same pay. We are aggressive advocates for worker’s rights, and we’re willing to stand up and tell your employer enough is enough. Call our Los Angeles discrimination attorney now to discuss your case’s merits with our team now. Schedule your appointment for a free consultation by clicking here or dialing 310-527-6994.