Today is Equal Pay Day. For women in general to earn what men earned last year, they'd have to work 3.5 extra months.
Here are some facts about the wage gap and its consequences:
* Overall, women earn 77cents on the male dollar. Black women earn just 62cents and Latinas only 53cents to every dollar men earn.
* Lifetime wage gap = $720,000 less pay for women high school graduates; $1.2 million less for women college graduates; $2 million less for women professional school graduates.
* Most recent data show median earnings for women were $36,931 compared to $47,715 for men.
* College-educated women earn 5% less than male peers the 1st yr out of school. After 10 yrs, they earn 12 percent less.
* For Latinas with a BA in 2009, the mean yearly pay was $39,566 -- that's $31,720 less than white men.
* The wage gap goes up with age. Women age 25-29 have yearly wage gap of $1,702. In the last five years of employment before retirement, the yearly gap jumps to $14,352.
* The wage gap is bigger for single women. Single women earn only 57 cents for every dollar that married males earn.
* Women's lower earnings lead to a higher poverty rate for single mothers. 50% of single mothers have an income of less than $25,000/yr.
* 17.2 million women lived in poverty in 2010. 25% of Latinas and 24.6% of Black women were poor as compared to 14.5% of women overall.
* In 2010 Latina & Black single mothers poverty rates were 50.3%and 47.1%, vs 15.1% for the population as a whole. The poverty rate for female-headed families w/kids was 40.7% overall.
* Mothers earn 7% less per child than childless women.
* 50% of single mothers have an income of less than $25,000/yr.
* The poverty rate for single mother families is 3X that of other families.
* 3/4 of homeless families are single mother families.
* Wage gap produces a wealth gap. The median wealth of white single moms w/kids under 18 is $6,000. Latina & Black single mothers have median wealth of $0.
* At current rate of progress it will take 45 yrs to close gender wage gap. How long will it take to End Poverty?