Equal Pay Day is observed in the United States on March 14 this year, but the date varies annually. Nevertheless, Equal Pay Day is an annual observance that represents the ongoing issue of pay disparity and the gender wage divide. The date itself represents how far into the year women must work to earn the same amount as males in the previous year. Consequently, this holiday typically occurs in March or September. Did you know that a wage disparity exists between men and women in the majority of countries?
The background of Equal Pay Day
Since quite some time, the issue of equal pay for male and female employees has been regularly addressed, with legislation and changes occurring consistently in many countries. However, this issue still requires immediate attention even today. In 1963, John F. Kennedy signed the Equal Pay Act into law, which was the first piece of federal legislation to address this issue.
From the 1970s onward, women employees became an increasingly significant proportion of the labour force in a variety of industries. Although there were laws protecting pay equity for women, they were not always upheld. In the late 1990s and early 2000s, a number of studies demonstrating this issue were conducted. The gender wage disparity has become a significantly more pressing issue.
The National Committee on Pay Equity established Equal Pay Day in 1996 as an initiative to raise awareness of wage disparity and demonstrate its effects on women. The primary objectives of this observance were to increase awareness of the problem and to implement strategies to close the divide.
In 2009, President Barack Obama signed the Lilly Ledbetter Fair Pay Act, which strengthened certain protections for female employees against discrimination and pay disparity. Currently, the wage disparity between men and women is still a pressing issue, more so in some countries than others, but as more and more initiatives are taken, the issue receives more attention and new changes are initiated.
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5 FACTS REGARDING THE PAY GAP
Despite significant progress, women generally earn less than males in many parts of the world as of today.
Numerous annual observances and holidays are devoted to the topic of equal compensation, making it one of the most celebrated issues in the world.
In the United States, women earn 83% of men’s wages, or approximately $500 billion per year.
According to numerous studies, women earn less than males in virtually every occupation.
The wage disparity affects women’s savings, ultimately resulting in a retirement income gap.
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