For every dollar a man makes, a woman only makes 80 cents, on average. Women of color make even lesser than that.
Black women make an average wage of 61 cents to every dollar earned by men. Native Americans make 58 cents. But, lowest on the pay scale are Latina women, who on average earn 54 cents.
The National Women’s Law Center (NWLC) reported that Latinas have a pay gap that exceeds $1 million when added up over a 40-year period.
Black women will lose out on an accumulative $946,120 during the same time period.
The median weekly earnings of Latina women do show an increase from $603 to $617, but is still low in comparison to white men and white and black women. Black women saw a decrease in median weekly earnings from $657 to $654.
According to the U.S. Census Bureau, black women in high-paying positions, such as doctors and lawyers, are paid about $35,000 less that white men in the same positions.
Chances for promotion are slim, as well, with only 68% of Latina women being promoted from entry-level positions in the workplace.
The Institute For Women’s Policy Research (IWPR) reports that Latina women would have to wait until 2224 and black women would have to wait until 2130 for equal pay.
Reasons for the gender wage gap include discrimination, racism and sexism. The pay gap persists despite more women obtaining higher education certificates and degrees and even increasing their skillsets.
This epidemic can be catastrophic in the near future, increasing the number of families in poverty. Equal pay would mitigate poverty and boost the economy.
“Persistent pay inequality can have far-reaching economic consequences,” reports IWPR. “According to a recent regression analysis of federal data by IWPR, equal pay would cut poverty among working women and their families by more than half and add $513 billion to the national economy.”
