The Gender Pay Gap has Narrowed in Recent Decades

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According to the Institute for Women’s Policy and Research, “U.S women working full time earned just $0.80 for every dollar earned by a man” and if this wage gap continues at this rate of change women are going to reach pay equity with men in the year of 2059. If women are not paid the same as men and their fellow teammates, motivation to do their tasks and go to work everyday will significantly decrease causing them to act unethically and effects interpersonal relations within the workplace. Therefore, disregarding numerous arguments that a wage gap doesn’t exist, closing the gender wage gap is essential in aiding women to achieve economic equality and security.

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Women shouldn’t have to choose between working and raising a family, however, women are proven to make significantly less than men causing them to be unable to pay for the upbringing of a child. Women do not choose to leave the workforce to take care of their children, they are usually forced to because many women in the United States dont get paid family leave causing women to leave because men will refuse to leave without getting paid. Women are discriminated against and earn less than men because women that have kids are viewed to be less competent and not as skilled as men so they experience a wage cut whereas, men get a bonus because there trying to upbring a family and that is viewed as superior.

Men are able to put away larger chunks of their salaries towards retirement because more of their paychecks are going towards social security and they are able to save more in retirement plans. Women often spend fewer years in the workforce because they take time off to be a caregiver causing them to be more likely to work part time jobs to make up for this lost time and increase their future retirement. Exiting and re-entering the workforce causes issues for women because the pay discrepancies are challenging for women to find work and feel as if they are no longer a strong, competitive worker.

To maximize women’s economic potential, society has to focus on closing the wage gap and raising the wages generally across the country. One main argument is that women should be encouraged to take jobs that pay more and on one side this would help women get paid more but, one has to consider that they will still not be paid as much as men in that role.

Encouraging women into higher paying fields is beneficial and very difficult to achieve, but when they make it up their they are still paid less than their male counterparts who hold the same position. This argument usually develops into encouraging women to work more hours but why should women be setting aside more hours and doing more work than men just so that they can try and come close to the same amount of money as the men are receiving.

Secondly, economists have argued that leveling the wage gap would have significant benefits on the economy and GDP, and in 2017, a study was conducted that the poverty level of working women would be cut in half if women earned the same as men and if that 20 percent gap disappeared. Putting more money into women’s wages results in more money being generated into the economy and consumption cycle because higher wages result in more spending. Having women have the same wages as men would allow for them to replace inferior goods with normal goods which are priced higher, therefore, raising the country’s consumption resulting in higher GDP and a stronger economy.

The wage gap has made intense strides in the past 30 years however it still needs to be advocated for by helping women pursue more male dominated careers and by removing the corporate barriers with new laws and regulations as well as enhancing educational opportunities.

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The gender pay gap has narrowed in recent decades. (2021, Nov 29). Retrieved August 16, 2022 , from
https://studydriver.com/the-gender-pay-gap-has-narrowed-in-recent-decades/

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