March 14th is equal pay day. It represents how far into the year women must work to make what men made in the previous year.
The gender pay gap has barely moved in 20 years.
Women employed in the U.S. lose on average nearly $1.6 trillion every year due to the wage gap. These lost wages mean women and their families have less money to support themselves, care for their families and communities, and save and invest for the future.
Women are the primary, sole, or co-breadwinners in nearly two-thirds of families.
As much as 10% - 40% of the gender wage gap cannot be explained even when considering gendered differences between the occupations, educations, and work histories of men and women.
Support the following and we can shrink the gap:
Raise the minimum wage and the tipped minimum wage
Support fair scheduling practices
Increase pay transparency and fix pay disparities
Invest in affordable, high-quality childcare and early childhood education
Pass paid sick days legislation
Improve paid family and medical leave programs
Research has shown that companies that close the pay gap by 10% achieve a 1% - 2% increase in revenue.
We are sitting on a $3.4 trillion economic opportunity in the U.S. alone.
Women make 85% of all consumer purchases in the U.S. and drive 70% - 80% of spending among consumers. Considering they make up 51% of the U.S. population, women have a strong influence in the economy.
(Sources: americanprogress.org, Katica Roy of Pipeline Equity, nationalpartnership.org, Forbes, Entrepreneur, Lexington Law, and MSNBC)
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