206 The Latest On The 2022 Wage Gap Between Men And Women

The 2022 Equal Pay Day is Tuesday, March 15. According to the National Committee on Pay Equity, This date symbolizes how far into the year women must work to earn what men earned in the previous year. Historically, Equal Pay Day was originated by the National Committee on Pay Equity (NCPE) in 1996 as a public awareness event to illustrate the gap between men's and women's wages. 

It was formerly called National Pay Inequity Awareness Day and in 1998  it changed to Equal Pay Day. For every dollar a man earns, women only earn eighty-three cents, this episode provides insight on the wage gap between them. Women on average earn less than men even if they work the same job, in the same industry, they must work longer to earn the same amount of wages and this needs to change.

The female to male ratio of wages from 1960 to 2020 reads as follows: 1960 women earned 60.6% for every dollar men earned and in 2020, they earn 83% for every dollar men earn which is still a wide gap between them. 

1. Women earn eighty-three cents for every dollar men earn.
2. There is more than one equal payday, it is also broken down by ethnicity.
3. Women earn less than men in nearly every industry.
4. Women earn less than their same race and ethnicity counterpart at every level of educational attainment.
5. The pandemic has set women's  labor force participation rate back more than 30 years.

Paul also shares insight on  the state of the gender pay gap and he provides a synopsis of various industries the pay gaps and inequity exists. More must be done for equal pay for all.

Paul Lawrence Vann has one last thing to share and it is this, recommend Wealth Academy Podcast to your friends, family, and colleagues. Please go to Apple Podcasts and subscribe, rate, and review his podcasts, we thank you for being so amazing. Apple Podcasts link: https://apple.co/3hb6QyY