"Gender pay gap is worse than thought: Study shows women actually earn half the income of men,” NBC announced recently in reference to a report titled “Still a Man’s Labor Market” by the Washington-based Institute for Women’s Policy Research, which found that women's income was 51 percent less than men’s earnings.
The "Gender Pay Gap" Isn't What You Think It Is
"What do you think of when you hear the phrase “gender pay gap”? Perhaps you think of a man and woman who work exactly the same job at exactly the same place, but he gets paid more than she does. This sort of discrimination has been illegal in the United States since the passage of the Equal Pay Act in 1963.
"But that is not what is generally meant by the phrase “gender wage gap.” Instead, the commonly reported figure—that a woman earns 80 cents for every dollar earned by a man—is derived by taking the total annual earnings of men in the American economy in a given year and dividing that by the number of male workers. This gives you the average annual earnings of an American man. Then you do the same thing but for women. The average annual women’s earnings come in at about 80 percent of the average annual man’s earnings. Presto, you have a gender wage gap.
"That’s it, honestly. It isn’t much above back-of-a-cigarette-box stuff. This methodology takes no account whatsoever of a whole host of factors that might explain this discrepancy. It ignores the fact that according to the Bureau of Labor Statistics (BLS), in 2017, men worked an average of 8.05 hours in an average day compared to 7.24 hours for women.
"True, women are more likely to be raising children, taking care of elderly family members, or doing housework, leaving them with fewer hours in the day for paid employment. But this does not alter the essential fact: that people working fewer hours, on average, can be expected to earn lower incomes, on average." . . .
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