Why is Equal Pay Day in April? It signifies how long into the next year women have to work to make the same amount their male counterparts made the year before. To draw attention to these stark inequalities this year, the National Partnership for Women and Families released a report detailing exactly how large the pay gap is for women in each of the 50 states.
Combined, American women lose out on more than a whopping $840 billion each year due to the pay gap. “These lost wages mean women and their families have less money to support themselves, save and invest for the future, and spend on goods and services,” the analysis states. “Families, businesses and the economy suffer as a result.”
On average, women get paid 80 cents to every one dollar of what men make here in the U.S. The publication also noted that the wage gap has nothing to do with education—women with doctoral degrees have lower salaries than men with master’s degrees. The largest wage gap was in Wyoming, with women earning only 64 cents to every one dollar men made, while women in New York and Delaware earn 89 cents on the dollar.
Despite this dismal news, the report noted there were six congressional districts where women received equal pay or actually earned more than their male counterparts (these districts were located in California, New York, Maryland, and Texas). Are you curious how your state stacks up against the rest? Check out the full report and see.
Treat yourself to a new wallet to signify that every penny counts, and tell us what you’re doing to draw awareness to Equal Pay Day in the comments.