It is sad to report that in 2015 women are not equal to men, at least in fair wages. A topic that has been discussed for far too long, inequality in the workforce remains a prevalent issue. On April 14, 2015, “Equal Pay Day” occurred. This makes the how far in the following calendar year a women would have to work to earn the same pay of her male counterpart if he was in the same business position. According to the Economic Policy Institute, in 2013 a woman working full-time, full year was paid only 78.3% of what a man working full-time, full-year earned.
Now one might make the argument that education plays a role, but that is not the case. The figure below shows the gender wage gaps at several levels of educational attainment. Even if a woman is educated enough to possess an advanced degree, there remains discrepancy. At that level, women make only seventy-four percent of men’s hourly wages.
Although strides have been made for women in the workforce, there is still a long way to go. The Equal Pay Act was a big step in 1963, but that was over half a century ago, there is still need to address this subject. Firms as a whole must end their discriminatory practices that cause this terrible gender inequality. Wage gaps between men and women are one more way that the rules of the American labor market short changes too many working families.