This is how much money black women lose in the wage gap

This is how much money black women lose in the wage gap

The A wage gap makes black women earn less of white, non-Hispanic men, it can cost them up to $2,000 a month, $23,000 a year, and more than $900,000 over a 40-year career, according to National Center for Women’s Lawa policy-focused organization that campaigns for gender justice.

September 21 signs Equal Pay Day for Black WomenWhich is the date on which black women will have to work in 2022 to earn what their male, white, and non-Hispanic counterparts earned in 2021.

Last year, it fell on August 3, which means that this year black women had to work more than six weeks a year to try to make up for lost wages.

In the United States, black women earn an average of 58 cents for every dollar earned by men, according to Census Bureau data. Shared by the American Association of UniversitiesIt is a non-profit organization dedicated to empowering women and girls.

Women of all races, who work full time in the United States, earn 83 cents for every dollar earned by men, according to the AAUW. Equal Pay Day falls on March 15, the day women have to work until 2022 to earn the same salaries as their male counterparts last year.

“Because a woman earns less on average than a man, she must work longer for the same pay,” National Equal Pay Commission He said in a statement on Equal Pay Day. “The pay gap is larger for most women of color.”

According to data from the National Women’s Legal Center, a black woman who begins working at age 20 must work until she is about age 80 to earn as much as a non-Hispanic white man at age 60.

Black Women’s Equal Pay Day comes this year as black women are still trying to recover from the economic fallout from the coronavirus pandemic, a time when They lost their jobs at a higher rate from other groups in the country.

Unemployment rates have decreased or remained the same for nearly every race or ethnicity except for black women, with an unemployment rate nearly twice that of white Americans, According to the National Center for Women’s Law. In August, while many groups joined the workforce, 45,000 black women left.

Black women remain hardest hit by the student debt crisis in the United States, with about 1 in 4 black women carrying student debt, according to the Data from the Census Bureau and the American Association of Universities.

A little more than a decade after starting college, black women owe, on average, 13% more than they borrowed, while white men, on average, have paid off 44% of their debt, According to The Education Trust.

Experts say one reason black women owe so much more in the years after graduating from college is the gender pay gap.

As black women earn less, many of them are burdened with student debt for the greater part of their careers, said Gloria Blackwell, executive director of the American Association of College Women. She described what black women face in the workplace as the “perfect storm” for both the racial wealth gap and the gender pay gap.

“When you are a black woman and carry this burden of student loans, it affects every aspect of your life,” Blackwell He told ABC News last month. “It affects whether you can pay basic living expenses, whether you can afford transportation or even rent in order to have a decent place to live, not to mention saving for a home or being able to start a family or take care of your family. It’s a burden on women. blacks as to whether they can save for retirement, afford rent, or be able to move to a better neighborhood.”

Black women attend college at higher rates than other groups. However, a 2020 report from Lean In It found that the gender pay gap is larger for black women with a bachelor’s degree.

The report stated that “Black women are ambitious—more likely than white men (35%) and white women (26%) to say they want to be great CEOs.” But even in the same job, black women are paid less than white men. “

Experts, including Blackwell and Nicole Mason, president and CEO of the Institute for Women’s Policy Research, say the solution to closing the gender pay gap for black women must come from both government and the private sector.

At the federal level, Mason said passing legislation like the Payroll Equity Act could help promote equal pay and transparency, while enforcement of existing civil rights and equal employment laws could help reduce discrimination in the workplace.

“Employers have a role to play in terms of ensuring equal pay and making sure that women in all fields earn what they deserve and the skills and talents they bring to the table,” Mason He previously told ABC News. “And as a culture and society, we have a lot of work to do in terms of breaking gender stereotypes about women in the workplace, their value and how much women should be paid for their work.”

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