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Economics-Wage Difference

Economics-Wage Difference

The wage gap difference is there against women. Until the United States figures something out, women will always earn less than men.

 

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Ceev Xiong

Ceev Xiong

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Curated Facts

The gender wage gap widens with age and accumulates over time.

Article: Fact Sheet: The Wage Gap ...
Source: Center for American Progr...
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

No matter what age a woman is, the wage gap continues to grow by a large amount.  This is a serious issue in the United States, even from a man's stand point.  Think about when we decide to get married and the spouse earns less than the husband.  This can impact your lifestyle, what you can afford and even after retirement. 

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The gender wage gap exists for all women, regardless of race or ethnicity.

Article: Fact Sheet: The Wage Gap ...
Source: Center for American Progr...
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

After controlling the factors of race an ethinicity, the bottom line is that a woman will always earn less, unless there is a change to this stereotype.

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There is very little that individual employers can do about any of these issues. They can’t make men do more housework, or pick majors for women. Nor can they reasonably be asked to adjust their salary schedules to make up for those choices.

Article: Don’t Blame Discriminat...
Source: Bloomberg
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

Aside the fact that women are being paid less than men, maybe men have that drive to work and spend more time in the labor force.

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The minimum wage is not just low, it is in decline in real terms. Since the mid-1980s, real wages (wages after inflation) have not increased. The decline in the buying power of average wages coincides with the income gap and the concentration of wealth that has developed in America.

Article: Arguments for a Lliving W...
Source: University of Massachuset...

If a portion of skills developed on the job is only relevant to tasks pertaining to that job then after promotion, some of the worker's skills will be wasted. Entering the firm in a worse economy and starting at a lower-level job would mean more time spent investing in skills that will go unutilized later when the worker is promoted.

Article: The long-term labor marke...
Source: ScienceDirect.com
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

Lifetime earnings between graduates may be different, because of the state of the economy.  In this research, the author comes to a conclusion that a bad economy is not beneficial for graduates. 

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I find that 52% of the black–white wagegap in the early 1990s can be accounted for by differential human capital accumulation by race. In the context of the model, given that black children face a lower labor market return to schooling, their parents invest less financially and in terms of the amount of time they spend in school. Such disincentives are compounded by lower incomes among black households amid constraints on borrowing to finance education. These mechanisms result in lower human capital of black children relative to white children, which translates directly into an earnings gap.

Article: Educational disparity and...
Source: ScienceDirect.com
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

Lower in education, financially, and skills for minority is the result of lower income.  With less earnings, those parents are unable to send their children to college and this cycle continues.

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In a recent review of 2010 Census data, Bloomberg found only one of 285 major occupations where women’s median pay was higher than that of men – personal care and service workers.

Article: Myth Busting the Pay Gap
Source: U.S. Bureau of Labor Stat...

Among the major race and ethnicity groups, median weekly earnings for black men working at
full-time jobs were $633 per week, or 74.1 percent of the median for white men ($854). The
difference was less among women, as black women's median earnings ($590) were 82.9 percent
of those for white women ($712). Overall, median earnings of Hispanics who worked full time
($556) were lower than those of blacks ($606), whites ($780), and Asians ($915).

Article: USUAL WEEKLY EARNINGS OF ...
Source: U.S. Bureau of Labor Stat...

The female-to-male earnings ratio varied by race and ethnicity. White women earned 83.4 percent as much as their male counterparts, compared with black (93.2 percent), Hispanic (87.5percent), and Asian women (73.1 percent).

Article: Usual Weekly Earnings of ...
Source: Bureau of Labor Statistic...

Among the states within the Eighth District, Arkansas has the lowest gender earnings gap (18.5 percent), slightly better than the national gap. Gender earnings gaps in Tennessee (19.4 percent) and Mississippi (20.5 percent) are slightly higher than the nation's, while the gap in Illinois (22.2 percent) is 21 percent higher than the nation's. Kentucky (24.3 percent), Missouri (24.8 percent) and Indiana (25.0 percent) have the highest gender earnings gaps among the Eighth District's states, each about a third above the national average.

Article: Publications
Source: Federal Reserve Bank of S...
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

For the past decades, women are still underpaid compared to their men counterpart.

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