There's A Gender Pay Gap At Every Age, And It Only Gets Worse As Workers Get Older
There are two things going on here: first, there's a wage gap no matter what the age. Women, even in high school, even after graduating from college, at 16 and 26 and 36, make less than their male peers.
Second, the gap gets much worse as workers get into middle age. For the last half decade or so, there's been no noticeable difference between the gap for young workers (16-24 years old) and the not-quite-entry-level cohort (25-34 year olds, otherwise known as millennials).
But when you look at all workers over 25, the gap increases - women of all ages make only 80% of what their male peers make.
There are a few reasons for these trends, according to Wells Fargo:
1) millennial men have lower labor force participation rates than previous generations (while millennial women's participation rates haven't changed in a while)
2) women still bear the brunt of the family responsibilities, and thus end up working fewer hours than their male counterparts
3) women self-select into lower-paid industries
Because of these trends, particularly numbers two and three, Wells Fargo thinks that the fate of millennial women is going to be roughly the same as the women who have come before.
Equal pay is still a few generations away, it seems.
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore