According to information acquired by our correspondents, a significant wage disparity exists between men and women in the United States labor market.
Despite the fact that the campaign for equality has not abated, earnings had remained at 9.4%, the same level as in 2017/18 when the initial figures were announced.
A look at a company’s median pay gap, which is the wage differential between a middle-level woman and a middle-level man.
This is not the same as paying women less than males for the same job, which is illegal.
Equality via charity According to the Fawcett Society, companies must “do more” to close wage disparities.
“If we want to make significant progress on narrowing the ubiquitous pay gap, companies must do more than share data,” said the organization’s president, Jemima Olchawski. She also stated that businesses must take concrete steps.
Businesses, organizations, and government agencies with 250 or more employees must disclose their gender pay gap statistics on the Gender Pay Gap Service website.
By Tuesday afternoon, 9,824 employers had reported as part of a government attempt to force businesses to be more honest about wages.
Women continue to earn 22% less than males in banking and finance, which remains one of the worst industries for women. The industry could barely close the margin by 0.5 percentage points five years ago.
The pay gap in the construction business shrank by 2.7%, but it remained significant, with the average woman getting 78p for every £1 earned by a man. Nonetheless, some companies, such as Airbus Operations (17.7%), Azebra Pay (16.9%), and DHL Services (12%), pay women more than males.
Nonetheless, the wage disparity between men and women has widened in several areas. For example, the wage disparity between those with and without a college diploma has increased by 0.9%.
According to Ms. Olchawski of the Fawcett Society, all companies should develop an action plan to make their workplaces more equal for men and women.
“Reporting is an excellent method to identify salary disparities,” she says, “but the most essential thing is to do something about them.”
EasyJet, Lloyds Bank, Savills, and CVS Pharmacy are among the companies with the largest wage disparities between men and women.
Even though it has increased since last year, the average EasyJet woman gets only 53p for every £1 earned by a guy.
According to Easyjet pilot Mona Abdelatti, one issue is that more males than women are interested in employment like hers.
“When they see a woman pilot, most people become delighted,” she remarked.
“If you don’t love it, don’t invest just because it’s expensive,” she said.
Two decades of almost no change in US’ pay gap
In the United States, the wage disparity between men and women has largely remained constant over the last two decades. Yet, according to a new study that looked at the median hourly salaries of full-time and part-time workers in 2022, women earned 82% of what men did. These findings are comparable to the pay difference in 2002 when women earned 80% of what men did.
The salary difference is narrower for persons aged 25 to 34 than those aged 16 and older, as it has been for a long time. In 2022, for example, women between the ages of 25 and 34 earned 92 cents for every dollar that men in the same age range earned. This represented an 8-cent difference. The wage disparity between men and women of all ages was 18 cents that year.
Although the pay gap between men and women hasn’t altered much in the recent 20 years, it has reduced significantly over the long term for those aged 16 and up and those aged 25 to 34. In 1982, for example, the wage disparity between men and women was 35 cents. It is predicted to be 18 cents by 2022. In addition, in 2022, the wage disparity for workers aged 25 and 34 was 8 cents, down from 26 cents in 1972.
The United States Census Bureau has also studied the wage disparities between men and women, but only for full-time employees (as opposed to complete- and part-time workers). According to the Census Bureau’s most recent research, full-time, year-round working women earn 84% of what full-time, year-round working males earn in 2021.
Most of the salary disparity between men and women can be explained by measurable factors such as education level, job segregation, and work experience. Women’s achievement in these areas is principally responsible for the long-term shrinking of the disparity.
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Although more women in higher-paying jobs were previously dominated by men, such as professional and management roles, women are still overrepresented in lower-paying jobs. This may be one of the reasons why men and women are paid differently.
Other factors that are difficult to quantify, such as gender discrimination, may also contribute to the income disparity.