Today, March 12 marks Equal Pay Day in the United States, a symbolic date representing the number of days into the current year women have to work to make the same amount of money men made in the previous one.
Put another way, to make 12 months’ worth of a man’s median wages, a woman has to work about 14.5 months.
“Equal Pay Day serves as a stark reminder of the persistent gender wage gap in our country,” said Lisa McCormick. “Despite decades of progress and advocacy, women continue to earn significantly less than men, with women being paid approximately 22% less on average compared to their male counterparts.”
According to Economic Policy Institute data from 2023, women earned 21.8% less on average than men after adjusting for factors such as race and ethnicity, education, age, and geographic division.
This alarming statistic highlights the need for continued efforts to address gender pay disparities.
“Equal Pay Day is not just a day on the calendar; it’s a call to action,” said Lisa McCormick. “The fact that women still earn significantly less than men in 2023 is unacceptable. It’s time for meaningful change.”
The trajectory of the gender wage gap over the past three decades paints a concerning picture. While there was some decline in the pay gap between 1979 and 1994, progress has remained stagnant since then, with little to no improvement in closing the gap.
“The persistence of the gender wage gap is a clear indication that we need to do more to ensure equal pay for equal work,” said McCormick. “We cannot afford to ignore the economic injustice faced by women in the workforce.”
The gender wage gap persists across various factors, including occupational segregation, devaluation of women’s work, societal norms, and discrimination. Women consistently earn less than men at all parts of the wage distribution, regardless of education level or experience.
“Closing the gender pay gap requires a multifaceted approach,” stated McCormick. “We need policies that promote transparency in pay, prohibit discrimination, and ensure fair wages for all workers.”
McCormick called on policymakers to pursue a range of options to address the gender pay gap, including federal reporting of pay by gender, race, and ethnicity, prohibiting employers from asking about pay history and strengthening enforcement of nondiscrimination laws.
“We have the tools and the knowledge to address this issue,” said McCormick. “Now is the time for action. We cannot afford to wait any longer to achieve pay equity.”
McCormick urged individuals and organizations to join the fight for policies that promote equality as Equal Pay Day reminds us that achieving pay equity is not just a matter of fairness but also critical for economic justice and prosperity.