A white household headed by a person with only a high school diploma has nearly 10 times the wealth of a Black household headed by a person with the same degree. The personal saving rate is personal saving as a percentage of disposable personal income. Today is Black Women’s Equal Pay Day, and represents how much farther into the current calendar year the … Wear The racial wealth gap is real. Clubs. Monthly and quarterly values are expressed at seasonally-adjusted annual rates (SAAR). Because women “When it comes to minorities, our characteristics are oftentimes different from what most hiring managers typically gravitate towards. release. On average, Black women typically make just 62 cents for every dollar paid to white, non-Hispanic men, according to Equal Pay Today. for the same amount of pay. Personal Income and Outlays: October 2020. It is equal to personal income less personal current taxes. Within unemployment insurance, the leading contributor was a decrease in Pandemic Unemployment Compensation, which provided weekly supplemental payments of $600 that expired on July 31. >> Press release One reason? Visit the new ESPN Audio player to hear your favorite shows and podcasts! The WAGE Project to encourage the formation of WAGE Estimates have been updated for July and August. Women and minorities make up the majority of the frontline and essential workers. At the same time, research shows that women and minorities tend to be the first fired and last rehired during an economic downturn, so it will be even harder for Black women to catch up.”. PHOTOS. to stage a rally for equal pay on the West Lawn of the Pay Day Kit. press event “We’re among the most educated, yet we’re getting paid less and we’re also straddled with debt from student loans,” says Thomas Whitfield. pay swept local communities. If we didn't have a wage gap, Dont’ delete this page! California Equal Pay Act (Labor Code section 1197.5) and Labor Code section 432.3 California Equal Pay Act: Frequently Asked Questions 1. “It’s hard for [Black women] to admit that we are at a deficit, from our home life to the lack of economic resources to the lack of educational opportunities,” says Lavarry. Personal Income and Outlays, September 2020, Information on COVID-19 and recovery impacts is available on our, Stay informed about BEA developments by reading, Historical time series for these estimates can be accessed in BEA’s, Access BEA data by registering for BEA’s Data, For more on BEA’s statistics, see our monthly online journal, the. Federal economic recovery payments slowed, as pandemic-related assistance programs continued to wind down. “Even the money we make is not our money, because we have to give it back to loans.”. Is the California Equal Pay Act new? >> For more with Women Work Equal Pay Day 2009: NCPE joined AAUW and BPW in a Congressional briefing. to raise awareness about how to solve wage inequity. When we want to make something of ourselves, there are countless barriers that we have to find a way to overcome, not to mention the overwhelming risks that we have to take.”, The financial inequality experienced by Black women is harmful to our economy, our families, and our society. That means from tomorrow, based on the Government’s Gender Pay Gap data, women will provide free labour until 2021. “I hope this moment in history, as we see a renewed interest in the Black Lives Matter Movement, can be a turning point for people to not judge or debate, but just to listen to what people are going through,” says Thomas Whitfield. March 31, 2020 is Equal Pay Day for many women, but it's not a day to celebrate. Temporary and intermittent Census decennial workers boosted government wages and salaries by $9.3 billion in September after adding $10.8 billion in August. Black women shoulder the majority of work and caregiving duties. getty. Equal Pay Day 2006: NCPE joined forces with Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. Within government social benefits, unemployment insurance benefits decreased while “other” social benefits increased. Bias is a real barrier in the workplace. The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified. we wouldn't need this coupon! A whopping 80% of Black women are the primary breadwinners for their household, and about two-thirds head households alone. In tables that display chaineddollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate. “Caregiving duties are falling on women across the board, and Black women are more likely to be family breadwinners and also single mothers,” says Chandra Thomas Whitfield, journalist and podcast host of “In The Gap.” “This year’s Black Women’s Equal Pay Day is especially unique, because we are either working from home or, if you’re an essential worker, trying to figure out childcare. Equal Pay Day 2012: NCPE honored Betty Dukes, who became the face of pay equity as the key plaintiff charging Wal-Mart with sex-based discrimination in pay and promotion. Personal consumption expenditures (PCE) is the value of the goods and services purchased by, or on the behalf of, “persons” who reside in the United States. Black women also make up a disproportionate amount of the labor force, and small businesses founded by Black women have grown by 164% since 2007. For more Equal Pay Day 2010: NCPE urged passage of the Paycheck Fairness Act. Personal income increased $170.3 billion (0.9 percent) in September according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). “There are so many layers to this, many of us are born into generational poverty. The 2021 sequestration rate were not released at the time of this publication therefore, mandatory funds for 2020and 2021 do not reflect a sequester reduction. Quantities, or “real” volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). The pandemic and social unrest about racial injustice have amplified existing inequities in America. So Black women have not only contributed to the American economy by working, but also by birthing more laborers who also worked for free, for centuries.”. Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, OCTOBER 30, 2020, Coronavirus (COVID-19) Impact on September 2020 Personal Income and Outlays, The September estimate for personal income and outlays was impacted by the response to the spread of COVID-19. It’s beyond time for companies to acknowledge the unique struggles that we face and make reasonable accommodations and investments in creating welcoming, equitable and sustainable work environments that we can all thrive within.”. March 31, 2020. For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. Calendar years and quarters. Press This website uses cookies to ensure you get the best experience possible. >> Press Why does BEA publish percent changes in quarterly series at annual rates? Equal Pay Day was originated by the National Committee on Pay Equity (NCPE) in 1996 as a public awareness event to illustrate the gap between men's and women's wages. Unless noted otherwise, annual data are presented on a calendar-year basis (i.e., covering January through December). Press release An official website of the United States government. Minorities make up the majority of essential workers. The wage gap is even greater RED on Equal Pay Day This may be a positive, but there is a financial impact. If managers are not intentionally challenging themselves to be inclusive, their subconscious idea of an ideal candidate is more than likely laced in bias. Personal outlays increased $217.5 billion in September (table 3). © 2020 Forbes Media LLC. Additional Resources available at www.bea.gov: Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers.

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