The pandemic and its recovery brought long-running racial and gender inequalities to the fore. That rate is still not back to the pre-pandemic figure, standing at 62.0% as of August 2022. The labor force participation rate for Black women age 20 and over, which measures the share of that demographic group who are either working or actively looking for work, dropped from 63.9% in February 2020 to 59.3% two months later in April 2020 when employment across industries took a hit from the pandemic. Mason said the money lost due to the pay gap affects "their ability to build wealth." It also impacts "their ability to save for the future," including for retirement or paying for their children's college, and "ride out an economic storm," like the pandemic, according to Mason.
The over $900,000 in loses over a 40-year career for Black women from the pay gap can negatively impact Black women financially. Nicole Mason, president and chief executive officer of the Institute for Women's Policy Research, told Insider.
"The pay gap for Black women is the result of a few issues: racial and gender discrimination, the intersection of those two in the workforce, and also labor segmentation," C. It often indicates a user profile.Īccording to NWLC's analysis on earnings from full-time, year-round workers, Black women lose over $20,000 a year in losses relative to non-Hispanic white men. Account icon An icon in the shape of a person's head and shoulders.
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