It’s certainly not news that American women continue to earn less than men for the same work, typically 79 cents on the dollar. But what’s less understood is the devastating impact those lost wages have over time. In fact, over a working woman’s career, that pay gap could accumulate to a half million dollars in lost income and even more for women of color. A comprehensive analysis of gender pay inequality, released by the Joint Economic Committee’s Democratic staff, shows how the gender pay gap grows over time. It’s not just an issue for working women because this inequality can also have a compounding and devastating impact on retired women.
Yesterday was #EqualPay Day. Today, millions of women went to work and were paid less for it than their male counterparts. At the current rate of change, it will take 40 years to close the gender pay gap. That’s simply not an option for generations of American women who will continue to face the consequences of income inequality from their very first day on the job until they die. Here are four steps Congress can take to make a difference now.
Read more: Huffington Post »