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☆ Women experience a 'motherhood penalty.' For dads, there’s a wage 'bonus'
▼ + stars: | 2024-03-26 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch now"For mothers, employment and earnings conditional on being employed fall sharply around the time of birth for women, and, more ominously, may remain permanently lower well after childbirth," the authors of the PNAS study wrote. There is a dynamic that perpetuates itself, according to Jasmine Tucker, vice president of research at the National Women's Law Center. Alternatively, fathers who work full time experience a wage "bonus" when they have children, according to a separate report by the British trade union association TUC. "The gender imbalance in time spent on caregiving persists, even in marriages where wives are the breadwinners." In fact, the motherhood penalty is even greater in "female-breadwinner" families, the PNAS study also found, where higher-earning women experience a 60% drop from their pre-childbirth earnings relative to their male partners.

Persons: Jasmine Tucker, Tucker, Richard Fry Organizations: National Women's Law, TUC, Fathers, Pew Research Center, Pew, CNBC Locations: British

☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Equal Pay Day highlights an up to $1.2 million salary shortfall for women of color
▼ + stars: | 2024-03-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Based on today's wage gap, a woman just starting out will lose $399,600 over a 40-year career, according to the National Women's Law Center. The pay gap worsens significantly for Black and Latina women. For Black women, the lifetime wage gap adds up to $884,800, and for Latina women, the losses total $1,218,000, the nonprofit advocacy group found. Why the gender pay gap persistsThere is no single explanation for why progress toward narrowing the pay gap has mostly stalled, according to a separate report by the Pew Research Center. What it takes to achieve progressNo "one thing" is going to close the wage gap, Tucker said.

Persons: Jasmine Tucker, Tucker, Ofronama Biu, Biu Organizations: Census, National Women's Law, National Women's, Center's, Black, Latina, Pew Research Center, Urban Institute, Employers

☆ High earners, young people and women are working fewer hours after the pandemic, says new research—here's why
▼ + stars: | 2024-03-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

But the people driving the post-pandemic decline in hours worked fall into four categories: women, young adults, highly paid workers and employees at small businesses. Richardson points out that high earners can maintain their annual income while working fewer hours, thanks to big post-pandemic pay increases. Women are working more part-time jobs than menA record number of Americans — 22 million — are working part-time, Labor Department figures show. In 2019, women worked 4.4 hours less per week than men, who worked 40 hours. The industries that saw bigger declines in hours worked — health care, leisure and hospitality — are dominated by women.

Persons: Nela Richardson, Richardson, they're, Gen Zers, there's, Zers Organizations: ADP Research, U.S, ADP, Workers, Labor Department, National Women's Law, Deloitte Locations: U.S

☆ Your salary history can hold you back from making more money throughout your career. Biden wants to ban it.
▼ + stars: | 2024-01-29 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Across the economy and country, women — and especially women of color — are paid less than their peers. "Relying on a candidate's salary history can exacerbate preexisting inequality in our pay structures, and disproportionately impact women and workers of color. And, as the National Women's Law Center chronicles , some employers use previous salaries as a benchmark for determining a new worker's salary — again essentially locking in some of the biases that could've kept that number lower. Research on salary history bans suggests that they are effective in narrowing pay gaps; one study , which focused on California's statewide salary history ban alongside other localities that enacted bans, found that the gender earning ratios increased, with women over the age of 35 particularly benefiting. The actions are pegged to the 15th anniversary of the Lilly Ledbetter Fair Pay Act of 2009, which, per the EEOC , is the first piece of legislation President Barack Obama signed into law.

Persons: —, Biden, Shalanda Young, could've, Lilly, Barack Obama, SCOTUS, Congress hasn't, Young Organizations: Service, Business, Management, National Women's Law, Research, Congress

The Ms. Foundation published research last week advocating for more financial support for women and gender nonconforming people of color leading nonprofits on the frontlines of social justices issues. “At this moment, when women and women’s bodies and gender nonconforming folks are being attacked on a daily basis, are they willing to move 10% to us?” Teresa Younger, Ms. Foundation’s president and CEO, said of other foundations. The Ms. Foundation found that many frontline organizations, like Power Rising, work across issue areas, often in tandem with other groups and in response to unfolding events. The organization advises foundations to build on trust-based giving, to support self-guided capacity building for these organizations, and to diminish grantmaking tied to specific issue areas. ___Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc.

Persons: Alex Soros, George Soros, Trump, ” Alex Soros, Shawnda Chapman, ”, ” Teresa Younger, it’s, Laleh Ispahani, Ketanji Brown Jackson, Leah D, Daughtry, grantmaking, Ispahani, Mark Malloch, Brown Organizations: Open Society, Society, Ms, Foundation for Women, OSF, National Women's Law, Alliance for Youth, U.S, Supreme, Foundation, Associated, Lilly Endowment Inc, AP Locations: U.S

☆ Money tips for single moms: 'It can be very challenging to raise kids on one income,' advisor says
▼ + stars: | 2023-11-22 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

"It can be very challenging to raise kids on one income," said Cathy Curtis, founder and CEO of Curtis Financial Planning in Oakland, California. Experts shared these 3 financial tips for single mothers. After accounting for fixed expenses, Curtis said, "closely monitor and budget for variable and miscellaneous expenses." Single mothers also should make sure they're preparing for their own future, said Jennifer Bush, a certified financial planner with Mainstreet Financial Planning in San Jose, California. To manage fears and be prepared for such a scenario, Curtis said, single mothers should take some additional precautions.

Persons: Christopher Hopefitch, Cathy Curtis, Curtis, That'll, Jennifer Bush, Bush, Emma Johnson, Johnson Organizations: Bank, Getty, National Women's Law, U.S . Department of Agriculture, Curtis Financial, CNBC FA, Fidelity Investments Locations: Oakland , California, overspending, San Jose , California

☆ Only 13% of employees are comfortable sharing their salaries with co-workers—here's how to talk pay at work
▼ + stars: | 2023-10-12 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

But just 13% say they'd be willing to share their pay with co-workers, even if their co-workers would be the ones to benefit the most from salary transparency. Pay transparency has been gaining traction since 2020, and eight states and several cities now have laws that require employers to disclose salary ranges. Roughly 26.6% of the U.S. labor force lives in a state that requires employers to practice salary transparency, according to the National Women's Law Center. "It sounds prehistoric almost, because pay really influences how we live our lives." But discussing pay with co-workers can provide crucial information that employees can then use to negotiate salaries, especially when transparency is widespread throughout a company.

Persons: they'd, Scott Dobroski, Matt Schulz, LendingTree's, Schulz Organizations: National Women's Law

☆ Latinas lose $1.2 million over their careers as wage gap persists
▼ + stars: | 2023-10-05 | by ( Brandon Gomez | ) www.cnbc.com time to read: +1 min

Latina women working full time, year-round earn 57 cents for every dollar paid to white, non-Hispanic men, according to a data collected by the U.S. Census Bureau and the Bureau of Labor Statistics. That gap in pay translates to a loss of $1,218,000 over a 40-year career. Break that down further and Latinas lose $30,450 in wages per year, or $2,538 every month, compared with the dominant cohort. The gap widens even further to 52 cents for every dollar when part-time and part-year workers are included in the data. "Looking over the course of a career, a Latina woman could never catch up," said Gaylynn Burroughs, NWLC director of workplace equality and senior counsel.

Persons: Gaylynn Burroughs Organizations: U.S . Census, Bureau of Labor Statistics, National Women's Law Locations: Latina

☆ The wage gap between Latinas and white men has hardly budged in 30 years: ‘We need more than good intentions to solve it’
▼ + stars: | 2023-10-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Latinas stand to lose more than $1.2 million over their careers due to the pay gap — and for Latinas with college degrees, that gap is even wider. That pay gap translates to a staggering loss of $30,450 per year. In 1989, Latinas working full-time were paid just $0.52 for every dollar paid to white men — which means that the Latina pay gap has only narrowed by pennies every decade since. How salary negotiations can exacerbate the wage gapFor many Latinas, the wage gap starts as early as the job search. "It's important to have mentors but to ensure that Latinas get these stepping-stone jobs and break the pay gap, they need sponsors, too," says Guasso.

Persons: —, Priscilla Guasso, Guasso, she's, Anyelis Cordero, Cordero, It's, Latinas, Jasmine Vallejo, Vallejo Organizations: National Women's Law, Latina, Hyatt Hotels, Lean, McKinsey & Co, Meta Locations: San Diego, San Diego , CA, America, U.S, Austin , Texas

☆ Hot girl summer is about to come to a crashing halt, and winter is coming for women
▼ + stars: | 2023-09-19 | by ( Emily Canal | ) www.businessinsider.com time to read: +4 min

This year's hot girl summer was led by the women who propped up the US economy. The aid has been funding childcare for the past two years, which helps keep many moms working. The study polled 3,661 women and 1,144 men between November 19, 2020, and December 17, 2020. Simultaneously, if childcare centers closed, working women would bear the brunt — in a 2020 report, the National Women's Law Center found that 95% of childcare workers were women . AdvertisementAdvertisementParents, experts, and lawmakers have previously told Insider how vital childcare is to working parents.

Persons: Taylor Swift, Barbie, Christopher Nolan's, Oppenheimer, doesn't, Annie E, Lisa Hamilton, who've, Sen, Patty Murray Organizations: Service, Bloomberg, of Labor Statistics, American, Century Foundation, Labor Department, Family Foundation, National Women's Law Center, Casey Foundation Locations: Wall, Silicon, America, it's

☆ Pay secrecy norms have ‘simply lost their teeth,’ say experts. Here's why
▼ + stars: | 2023-09-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Westend61 | Westend61 | Getty ImagesNew York just adopted a pay transparency ruleNew York on Sunday became the latest state to adopt a pay transparency law. The pay transparency movement is relatively new. Fifty-six percent are more likely to apply for a company — even if they don't recognize the company name — if the salary range is listed, Indeed found. For one, pay transparency may lower overall wages of the broader population of employees, even while raising them for the "inequitably underpaid," Obloj and Zenger said. 'There's still plenty to negotiate' beyond salaryOf course, applicants aren't necessarily beholden to the salary or the pay range posted on a job ad, Woodruff-Santos said.

Persons: NCSL, Salary.com, Zenger, Mandi Woodruff, Santos, Woodruff, you've, they've, there's Organizations: Westend61, Getty, Sunday, Employers, National Conference of State Legislatures, National Women's Law Locations: York, California , Colorado, Washington, New York City, Colorado, Ithaca, Albany, Westchester, New York, Jersey, New Jersey, Cincinnati, Toledo, Ohio ; Maryland ; Connecticut, Rhode, Nevada

Pay transparency, supporters say, will prevent employers from offering some job candidates less or more money based on age, gender, race or other factors not related to their skills. Advocates believe the change also could help underpaid workers realize they make less than people doing the same job. A similar pay transparency ordinance has been in effect in New York City since 2022. There’s a demand from workers to know of the pay range,” said Da Hae Kim, a state policy senior counsel at the National Women's Law Center. State Senator Jessica Ramos, a Democrat representing parts of Queens, said the law is a win for labor rights groups.

Persons: ”, Da Hae Kim, Kathy Hochul, Frank Kerbein, Kerbein, Allen Shoikhetbrod, Tully Rinckley, Jessica Ramos, Khan, Maysoon Organizations: National Women's Law, Gov, Compliance, New York Business Council, Associated Press, America Statehouse News Initiative, America, Twitter Locations: ALBANY, N.Y, New York, New York City, California, Colorado, Queens

☆ 5 million kids fell into poverty last year after Congress cut off Biden's monthly checks to parents
▼ + stars: | 2023-09-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

That's after Congress ended monthly checks to parents as part of the expanded child tax credit. The poverty rate for all people also increased from where it stood in 2021. Refundable tax credits like payments from the expanded child tax credit helped keep millions of Americans out of poverty in 2021. The SPM child poverty rate of those under 18 soared from the record low, starting with data from 2009, of 5.2% in 2021 to 12.4% in 2022. "The child poverty rate in 2022 would have been about 8.4 percent rather than 12.4 percent."

Persons: That's, —, Melissa Boteach, Institute's Elise Gould, Ismael Cid, Martinez, Biden Organizations: Service, Census Bureau, Child Tax, CTC, National Women's Law, Social Security, SNAP, Economic Advisers, CEA, Budget Locations: That's, Wall, Silicon

☆ More than 25% of U.S. workers are covered under pay transparency laws—that could soon be near 50%
▼ + stars: | 2023-06-21 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

Just over 1 in 4 workers is now entitled to salary transparency by law — and proposals could double that number in the next few years. Pay transparency has become a cornerstone of the labor force in recent years, with Colorado becoming the first state to require employers post pay ranges on job ads in 2021. So far, eight states have salary transparency laws on the books: California, Colorado, Connecticut, Maryland, New York, Nevada, Rhode Island and Washington. Several cities and counties like Cincinnati and Jersey City, N.J., have their own pay transparency requirements. Proponents of salary transparency say it's a crucial piece to closing racial and gender wage gaps, which have barely budged in years.

Persons: —, J.B . Pritzker, Kelly Evans, ‘ They’ll Organizations: National Women's Law, Washington D.C, Gov Locations: Colorado, California , Colorado , Connecticut, Maryland , New York , Nevada, Rhode Island, Washington, Cincinnati, Jersey City, N.J, Alaska , Georgia, Hawaii , Illinois , Iowa , Kentucky, Maine , Massachusetts , Missouri, Montana , New Jersey , Oregon, South Dakota , Vermont, Virginia, West Virginia, Illinois, U.S

☆ BNY Mellon launches new ETF focused on women's opportunities
▼ + stars: | 2023-05-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

Investing in women's empowerment and opportunities is something portfolio managers Julianne McHugh and Miki Behr have talked about doing for years. BNY Mellon Women's Opportunities ETF , the exchange-traded fund they manage, launched Wednesday, trading under the ticker BKWO. Investing for financial return while promoting gender diversity, known as gender lens or gender equity investing, isn't new. Assets in U.S. gender equity funds have doubled over the last three years, to $1.3 billion, as of the end of February, Morningstar found. Those funds represent less than 0.01% of total equity fund assets in the United States, according to the firm.

☆ Asian American and Pacific Islander women face a $267,760 lifetime salary shortfall due to the pay gap
▼ + stars: | 2023-05-02 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Some consider April 5 equal pay day for Asian American, Native Hawaiian and Pacific Islander women, marking the point into the new year that the average AAPI woman has to work to make the same pay white men earned in 2022. In other words, an AAPI woman has to work 15 months to earn what a man makes in one year, according to an analysis by the National Women's Law Center. But that doesn't tell the whole story, cautioned Jasmine Tucker, the NWLC's director of research. During the pandemic, AAPI women endured disproportionately more job losses and were more likely to have child-care needs impact their ability to work. At the same time, persistent gender inequities suppressed wages and caused a crisis in savings as inflation took hold, Tucker said.

☆ One chart shows how many more hours married women spend on housework than their husbands in 5 different types of opposite-sex marriages
▼ + stars: | 2023-04-16 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Pew Research Center compared the hours opposite-sex married couples spend on housework and caregiving. The chart below shows the average time spent per week on housework and caregiving duties for five different kinds of income arrangements for opposite-sex marriages. Wives in these wife-primary-earner marriages spend about 11 hours a week on housework and caregiving compared to their husbands' almost 8 hours a week. 57% of US adults said American society values the "contributions men make at work." Men and women pretty much said the same thing — 55% of men and 58% of women answered this way.

☆ 'Over-mentored and underfunded': The biggest challenges facing AAPI women-owned businesses
▼ + stars: | 2023-04-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

More than two million businesses in the U.S. are owned by Asian Americans or Pacific Islanders, according to the Asian/Pacific Islander Chamber of Commerce. As of 2020, the most recent year for which federal government data is available, 171,400 businesses were owned by Asian American women and 2,600 by Native Hawaiian and Pacific Islander women. Despite the unique challenges this group must deal with, data on Asian American, Native Hawaiian and Pacific Islander women is "limited and fragmented at best," the center added. If the wage gap fails to close, the NWLC estimates that AAPI women working full-time, year-round stand to lose $267,000 over the course of a 40-year career. Entrepreneurship is a valuable pillar for Asian American, Native Hawaiian and Pacific Islander women to build wealth, but they still face challenges getting fair access to capital and other barriers to success.

☆ The pay gap has stalled and parenthood is a big reason why
▼ + stars: | 2023-03-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Caregiving and parenthood could be contributing to the gap in earnings between men and women. It provides a striking way of thinking about the gender pay gap. Pew Research Center also looked at how the pay gap has evolved over time and found that it has stalled. For instance, a research paper from Patricia Cortés and Jessica Pan found that "by the 2010s, child-related inequality accounted for nearly two-thirds of the overall gender pay gap in the U.S." Additionally, according to a fact sheet from NWLC, there's a pay gap between mothers and fathers. A Pew Research Center survey asked US adults why they think the pay gap persists.

☆ The wage gap gets worse for women in their 30s and 40s—and it's not just the 'motherhood penalty'
▼ + stars: | 2023-03-14 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Women face a wage gap at every point in their careers, a gap that gets worse as they age and progress through their work lives. This difference in earnings is perhaps the most obvious once women hit their 30s, which is also when the gap begins to widen. Last year, 66% of working women ages 35 to 44 had at least one child at home, compared to just 39% of women ages 45 to 54, Kocchar found. But the explanation for why progress toward narrowing the pay gap stalls once women enter their mid-30s extends beyond the so-called "motherhood penalty." Experiencing early wage discrimination has a "compounding effect" that can hurt women's earnings potential for years to come, she adds.

☆ Gen Z women expect to make $6,200 less than men after graduating—salary transparency could help
▼ + stars: | 2023-02-24 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

Their latest Gen Z salary transparency report found that, after surveying 1,853 Gen Z jobseekers, women expect a $6,200 lower average salary compared to men. "I was surprised that women are still asking for less money and have lower salary expectations," Workman tells CNBC Make It. Though women have historically been paid less than men, the gap has narrowed significantly since 1960. What's more, for every dollar paid to white dads, Black, Native American, and Latina moms earn 52 cents, 49 cents, and 47 cents, respectively. Several states, cities, and counties across the country have already passed legislation making salary transparency a requirement, including California, Colorado, Connecticut, Maryland, Nevada, Rhode Island, Washington and New York City.

☆ Taylor Swift is the highest paid female entertainer in the world, earning $92 million in 2022
▼ + stars: | 2023-02-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Taylor Swift is the highest paid female entertainer in the world, earning a cool $92 million in 2022 following the success of her 10th studio album "Midnights," according to a new report from Forbes. To determine the ranking, Forbes considers entertainers' total 2022 pretax earnings, minus fees for representation (managers, lawyers, etc.) While 2022 was a strong year for Swift, her annual earnings were still less than half of what the highest paid entertainers in the world, the progressive rock band Genesis, made last year. Altogether, Genesis earned $230 million in 2022, thanks to a $300 million music rights sale to Concord Music Group in September. There wasn't a single woman on Forbes's list of the top 10 highest paid entertainers in 2022 — the highest paid female entertainer, Reese Witherspoon, ranked 12th for making $115 million in 2021.

☆ Making salary ranges public may shrink pay gaps but slow wage growth
▼ + stars: | 2023-01-24 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

The rise of pay transparency laws in the United States could change how the nation's workers negotiate their annual salaries in today's fast-changing labor market. As layoffs mount in the face of recession fears, the increased number of job seekers will be seeing more positions in states that mandate pay ranges be publicly listed. The rise of these pay transparency laws could boost wages for minorities and women, who may be paid less than their peers. Nuances of rising pay transparency were highlighted in a report Pakzad-Hurson co-authored in the National Bureau of Economic Research. Watch the video above to learn more about the rise and potential implications of pay transparency.

☆ 2022 in gender equality: Share of female Fortune 500 CEOs hits all-time high, but other progress stalls
▼ + stars: | 2022-12-20 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Women continue to face a significant wage gap that has hardly budged over the last 15 years, with women of color bearing the brunt of the disparity. The year "2022 really is a mixed bag when it comes to gender equality," says Melissa Boteach, the vice president for income security and child care/early learning at the National Women's Law Center. Aside from that victory, there has been little progress in closing the gender wage gap over the past decade. This year, the wage gap narrowed by one penny. The wage gap Black women face narrowed by about four cents in one year, while Latinas' wage gap didn't budge at all.

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