5 Things Every Woman Should Know About The Gender Income Gap

Good evening Women Supporting Women,

Happy Memorial Day!  I hope you had a fabulous weekend with loved ones and at barbeques, while reflecting on the individuals who lost their lives serving our country.  I salute and honor you!  Thank you for your service.  I went to a fantastic Ladies Brunch….BOSS Edition event hosted by The 500 Men Making A Difference organization.  It was a brunch recognizing 40 powerful women in our community.  To be in the room with fellow Queens was an honor.

If you remember, last week we discussed 5 Facts Single Mothers Should Know.  This week we were going to look at 5 Things Every Divorced Woman Should Know but I am switching it up.  Looking into a few more facts before I post.  This week, we will tackle looking at the Gender Income Gap, which we all know exists. Some of the information may or may not startle you.

Facts about the gender income gap:

1. At the start of their careers, most men and women enter the workforce in non-management roles. (1) 

2. However, by mid-career, men are 70% more likely to be executives, and later in their careers they are 142% more likely to be company vice presidents. (1)

3. Women, on the other hand, are more likely to remain in non-management roles throughout their careers. (1)

4. Middle-class and low-income families are impacted significantly by pay inequality. Many middle-class families rely heavily on women’s incomes. Low-income families are even more dependent. (2) 

5. Closing the gender pay gap would provide an additional $447.6 billion to women and their families annually, and slice their poverty rate in half. (2)

Data collected from:

1The State of the Gender Pay Gap in 2018,” payscale.com. http://www.payscale.com/data/gender-pay-gap.

2 “Gender Pay Inequality: Consequences for Women, Families and the Economy,” Joint Economic Committee, United States Congress, April 2016. http://www.jec.senate.gov/public/_cache/ files/0779dc2f-4a4e-4386-b847-9ae919735acc/gender-pay-inequality—-us-congress-jointeconomic-committee.pdf
Women must take steps to ensure a brighter financial future:

If you have any additional questions, you can post here or reach out to me via email at: thefinancialcomforter@gmail.com

As always, thank you for reading and have a blessed week.

Marsha

Changing the lives in our communities….one family at a time

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