The Gender Pay Gap shows that black women are at the bottom of the scale
The Gender Pay Gap is a terminology used to refer to
the wide difference in what working-class women earn versus their male
counterparts, in a year.
Every year, the Equal Pay Day is marked, the day
symbolizes how much working women may have earned as much as their male
counterparts over the previous year. That is, working women may have had to work
for a couple of months extra to earn what working men earned in the last year.
Equal Pay Day for all American working women was
officially on March 31. That is, the average working woman finally earned as
much as what a working man earned over 2019, on March 31, 2020.
However, when it comes to race, especially the Black
race, the gap gets wider. August 13 was the official Equal Pay Day for Black
women working in America.
The purpose of marking Equal Pay Day shows that there
is still much work to be done to close up the gap between men and women, and
women of color. The National Women’s Law Center said in a press release that, “comparing
what women of color are paid to what white, non-Hispanic men make demonstrates
the enormous economic impact of the double burden of sexism and racism.”
“We have a long way to go before equal pay is a
reality for women of color. Race and gender wage gaps harm women’s economic
security—and their families’—and add up to substantial losses over time. A
woman of color who works full time, year round, can lose more than $1 million
in income over a 40-year career because of the wage gap,” the NWLC said.
The pay gap, especially for women of color, is quite
big and needs a lot of effort to close up. The NWLC is taking strong steps to
ensure that “real solutions” are provided. The organization first identifies the
need to revisit and strengthen “our pay discrimination laws.” NWLC pointed out
that the ‘Paycheck Fairness Act’ has been around for almost 20 years, and it’s
about time it becomes a law.
“Women of color are over represented among the lowest
paid workers, and they deserve a raise: we must raise the federal minimum wage,
which hasn’t changed in nearly a decade,” said the NWLC.
On the average, black women are paid 38% less than
white men, on average, according to SurveyMonkey. There is no particular reason
why Black women earn way lesser than their white counterparts, on the contrary,
Black women do more work at their workplaces. The reason could be tied to
racism, sexism, unconscious bias, and lesser number of black women in
leadership roles.
Black
Women in the Board Room
Black women account for only 3% of Board Directors
with only a 1% increase in the last 5 years. For example, there are only 16
Black women on the Dow 30 Board Directors out of 345 total Board seats.
Wall
Street
Company |
Number |
Name |
JPMorgan
Chase & Co. |
1 |
Mellody
Hobson |
Citi |
1 |
Deborah
Wright |
Wells
Fargo |
1 |
Celeste
A. Clark |
Bank
of America |
0 |
- |
Goldman
Sachs |
0 |
- |
Silicon
Valley
Company |
Number |
Name |
Facebook |
2 |
Peggy
Alford Tracey T. Travis |
Amazon |
1 |
Rosalind
G. Brewer |
Alphabet |
1 |
Robin
Washington |
Apple |
0 |
- |
Microsoft |
0 |
- |
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