Fix Pay Related Latest News Report ….!
The gender pay gap is now the narrowest it’s ever been, and yet it’s still 2.5 times the size of those of other industrialized countries. So what’s to be done?
By all accounts and figures, women in the work force have made enormous economic progress in the last 50 years. In the 1980s, women only made 60 cents to every dollar of male earnings. The latest figures show that gender wage gap narrowed substantially, with women making nearly 80 cents to the dollar in 2015.
The last three decades have seen American women move up in both educational attainment and into higher paying jobs. The gap is now the narrowest it’s ever been, and yet it’s still 2.5 times the size of those of other industrialized countries. So what’s to be done? How can America get its men and women paid equally?
ANSWER
The government should make it illegal for companies to pay men more than women.
QUESTION
It already has. So why hasn’t that worked?
Since 1963, the Equal Pay Act has stated that men and women doing the same work have to be paid equally. More recently, the Obama administration has announced an executive action that will require companies with 100 employees or more to report pay data broken down by gender. The problem with legislating equal pay is that it puts the onus on female employees to bring lawsuits showing that they have been discriminated against. (The California Fair Pay Act has now added additional protection, saying that women need not have the same title in order to have a claim of doing equal work and protecting them from retribution if they ask about the fairness of their pay.)
Of course, this helps if men and women are doing the same work. But a big part of the gender wage gap is due to the fact that they aren’t. So what’s to be done about that?
Nope. As the Harvard economist Claudia Goldin writes: “Surprisingly, the differing occupations of men and women explain only 10 to 33 percent of the difference in male and female earnings. The rest is due to differences within occupations, and part of that is due to the observable factors.”
While encouraging women into higher paying fields is a good thing, it’s hard to ignore that even when they make it there, they are paid less. Women now make up a third of lawyers and doctors, but they’re still paid less than their male counterparts in those professions. Having more women in higher-paying fields won’t solve the problem if they aren’t compensated at the same rates as their male peers in those fields.
The other problem with this approach is that often the fields that are the highest-paying—such as finance, executives management, and tech—are often reported to be hostile environments for women. It’s not hard to imagine that women in those fields might occasionally walk away from a high-paying job to escape a sexist work environment. So while getting women into high-paying jobs (perhaps by encouraging them to study STEM or other profitable majors) can pay off, part of that solution has to include changing workplace cultures that are inhibiting women from taking jobs that increase their wages.
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