April 8th is Equal Pay Day

Apr 8, 2014

Today, April 8, is “Equal Pay Day,” the date that marks the number of extra days into 2014 the average woman has to work to earn as much as her male counterpart did in 2013.  According to the White House, full-time year-round working women earn 77% (78% in WA State) of what their male counterparts earn. This means that women have to work approximately 60 extra days, or about three months, to earn what men did by the end of the previous year.  For women of color, the gap is significantly wider. African American women on average earn only 64 cents (62 cents in WA State) and Latinas on average earn only 55 cents (45 cents in WA State) for every dollar earned by white, non-Hispanic men.  In addition to this resulting in current lower wages for women, think about how this effects a woman’s earnings in retirement with social security and her ability to set aside retirement funds.  Also consider how many women are single mothers, caring for our most valuable assets in America, our children.  Often, when a woman achieves financial sustainability, so does her family.

 

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