The Massachusetts Legislature unanimously passed the strongest equal pay law in the country during a rare weekend session on July 23, and it is waiting for Republican Gov. Charlie Baker’s signature.
via Mother Jones.
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#politics #gender wage gap #women's rights #gender pay gap #p2 #elderly #older americans #social insurance #retirement #retirees #retirement crisis #entitlements #entitlement reformA major research report out Thursday from the Economic Policy Institute (EPI) aims to inform the national discussion about workplace policies with a new analysis showing the gender wage gap is real.
“We’re basically saying we’ve measured it a lot of different ways, and it exists, and it’s real, and unfortunately it has not gone away,” said Elise Gould, an economist with the nonpartisan Washington, D.C.-based think tank EPI, in a phone interview with Rewire.
via Rewire.
The gender wage gap has improved quite a bit since women started entering the workforce in large numbers. Women who work full time and year-round earned just 58 percent of what men earned annually in 1968; now that ratio is about 79 percent.
via VOX.
3. The value of Social Security and pensions
The average Social Security check for a woman is $375.81 less than the average man’s. Aside from the well-documented wage gap, women often leave the workforce to care for children and elderly parents. Taking family leave directly impacts a woman’s earnings. Studies have shown that a woman’s pay drops after the birth of her first child.
The amount you’ll receive from Social Security is a calculation based on your 35 highest earning years. If the years that women spend caring for family members result in reduced earnings or even zeros, because they worked less than 35 years, then their Social Security benefits will be smaller.
via Kiplinger.
Related Reading:
Social Security is a program that is vitally important to all Americans, but it is especially important to the financial security of women. First of all, women live longer than men.
On average, women today who reach age 65 outlive men by 2.4 years. These additional years of longevity increase the risk that women may outlive their savings or that their pensions may lose their purchasing power.
March is Women’s History Month – During the month, we’ll be highlighting ways the gender wage gap affects women’s Social Security benefits.
Nearly 10,000 people graduated with MBAs from University of Chicago’s Booth School of Business between 1990 and 2006.
In 2009, three economists decided to study a quarter of those graduates. They asked a detailed set of questions about the jobs they’d held since graduation, how many hours they worked, where they worked, and what they had earned each year.
via VOX.
The gender pay gap is a hot topic these days, but it’s not the only economic gender gap. Women also are lagging behind men in building retirement security.
Lower pay translates into a gap for women in retirement security, reducing Social Security benefits, pensions, and retirement saving. At the same time, women enjoy greater longevity, which means resources often must be stretched over a longer retirement.
via Morning Star.
The gender pay gap is a hot topic these days, but it’s not the only economic gender gap. Women also are lagging behind men in building retirement security.
Lower pay translates into a gap for women in retirement security, reducing Social Security benefits, pensions, and retirement saving. At the same time, women enjoy greater longevity, which means resources often must be stretched over a longer retirement.
via Morning Star.
Investment in home and community-based care is popular and must be included in #infrastructure. Now it’s up to Congress to get it done. https://www.nytimes.com/2021/06/04/opinion/elder-care-congress.html #HCBS @nytimes
