In an earlier review, GAO found that, among workers with less education, women earned a lower hourly wage than men. In 2022, the Government Accountability Office (GAO) found that women in management positions earned less than male managers, a gap that was larger for women age 40 or older. Another analysis reported a similar disparity in the Nation’s essential workforce. According to one analysis, women earned 82 percent of what men earned in 2022, a gap that has changed little in 20 years. The persistence of a gender pay gap exists across many industries and occupations. Yet, despite their importance to our Nation’s economy, women continue to receive lower pay compared to their male colleagues. Meanwhile, the United States Census Bureau found 34 million women in essential jobs that helped keep our Nation functioning during the COVID-19 pandemic. In 2019, women were more than half the workforce in multiple industries, including education and health services. Between 19, the labor force participation rate of women age 16 or older increased by 19 percentage points. Women are a growing and increasingly critical part of the American workforce. Congress needs to better understand how the pay gap impacts the ability of women to save and their quality of life after retirement. This wage gap leaves women at a disadvantage, harms their ability to save for retirement, and can even reduce the money they receive through Social Security. Despite their increasing role, a persistent wage gap exists between men and women. Women workers are a larger presence in America’s workforce than in previous decades. We write to request GAO examine the impact of the pay gap between men and women on the ability of women to save for retirement. United States Government Accountability Office In light of this, Senator Casey and his colleagues ask the GAO to ask older women about their experiences with pay discrimination and the impact it has had on their ability to save for a secure retirement. Because Social Security benefits are based on a worker’s earnings, the pay gap means that women receive lower benefits in retirement than men. The letter noted that the wage gap harms women’s ability to save for retirement, and women age 65 or older have less retirement income and are more likely to live in poverty than men. Today and every day, I am committed to rooting out the causes of the gender pay gap and advancing equality and equity for women in the workplace.”Īs Chairman of the Special Committee on Aging, Senator Casey led a letter to the Government Accountability Office (GAO) asking the agency to examine the impact of the pay gap between men and women, considering the ability of women to save for retirement. “Every year the pay gap exists makes it harder for women to raise a family, save for the future, and retire securely.
The divide is even wider for women of color,” said Senator Casey. By the time the average woman reaches retirement age, she is not as well-equipped as her male counterparts to retire comfortably. “The gender pay gap hurts women at every stage of their careers. Senator Casey joined all Senate Democrats in introducing the Paycheck Fairness Act, legislation that would combat wage discrimination and help close the wage gap by strengthening the Equal Pay Act of 1963, ensuring women can challenge pay discriminations and hold employers accountable. While today marks Equal Pay Day for all women, the pay gap disproportionately hurts women of color-who have to work even longer to close the wage gap.
Senator Bob Casey (D-PA) is releasing a statement on Equal Pay Day, which marks the amount of time the average American woman must work in order to earn the same amount of money her male colleagues were paid in the previous calendar year. Casey urges GAO to examine impact of pay gap on women’s retirement savingsĬasey joined all Senate Democrats in introducing Paycheck Fairness Act last week
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