Annually observed on a Tuesday in April, Equal Pay Day is a tangible reminder that gender inequity persists in the workplace. What is Equal Pay Day? Why is it 'celebrated' on a Tuesday? Here's a brief explanation of Equal Pay Day.
Today is Equal Pay Day 2010, and as Business and Professional Women's Foundation CEO Deborah Frett notes, "That's right. It takes women 16 months to earn what men do in 12 months."
Why does unequal pay still exist? Half of the U.S. workforce today is female, and women-owned businesses make up 30% of all businesses in the U.S. Legislation such as the Lilly Ledbetter Fair Pay Act is attempting to correct inequities in compensation, but women are still shortchanged their fair share simply because of gender.
We're well aware that women earn only 77 cents for every dollar earned by a man. But that's not the whole story. Frett observes:
Things are even worse for African American and Latina women who earn an average of 39 to 48 percent less than their white, male colleagues....Wage discrimination lowers total lifetime earnings, reduces women's benefits from Social Security and retirement plans and inhibits their ability to save not only for retirement but for other vital lifetime goals. Women cannot continue to accept the slow pace of wage catch-up that has occurred during the last 30 years.
A co-sponsor of Equal Pay Day since its inception, the Business and Professional Women's Foundation believes that to close the wage gap, a three-pronged approach is necessary:
- Advocacy - promoting and supporting legislation such as the Paycheck Fairness Act
- Collaboration - partnering with businesses to create and update workplace policies
- Education - empowering women to succeed with knowledge and resources
If you live and/or work in the Washington, D.C. area, the BPW Foundation blog Young Women Misbehavin' is hosting an Unhappy Hour today in recognition of Equal Pay Day; they're asking attendees to symbolically close the wage gap by donating "23" ($23 or multiples of 23) to bring the "77 cents on every dollar" figure to an even whole.
They encourage working women everywhere to host their own Unhappy Hour today, or consider starting a Wage Club.
Other groups such as 9to5 - the National Association of Working Women are also observing Equal Pay Day and have recommendations of their own.
'Happy' Equal Pay Day. May this be an annual day that becomes obsolete in our lifetime.
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