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The wage gap in the united states

The Equal Pay Act, passed by the U.S. Congress in 1963, was designed to reduce the wage gap between men and women. The act in essence required employers to pay equal wages to men and women who were performing substantially similar jobs. However, more than fifty years later, women continue to make less money than their male counterparts. According to a report released by the White House (National Equal Pay Taskforce 2013), “On average, full-time working women make just 77 cents for every dollar a man makes. This significant gap is more than a statistic—iit has real-life consequences. When women, who make up nearly half the workforce, bring home less money each day, it means they have less for the everyday needs of their families, and over a lifetime of work, far less savings for retirement.” While the Pew Research Center contends that women make 84 cents for every dollar men make, countless studies that have controlled for work experience, education, and other factors unanimously demonstrate that disparity between wages paid to men and to women still exists (Pew Research Center 2014).

As shocking as it is, the gap actually widens when we add race and ethnicity to the picture. For example, African American women make on average 64 cents for every dollar a Caucasian male makes. Latina women make 56 cents, or 44 percent less, for every dollar a Caucasian male makes. African American and Latino men also make notably less than Caucasian men. Asian Americans tend to be the only minority that earns as much as or more than Caucasian men.

Recent economic cconditions

In 2015, the United States continued its recovery from the “Great Recession,” arguably the worst economic downturn since the stock market collapse in 1929 and the Great Depression that ensued.

The recent recession was brought on, at least in part, by the lending practices of the early twenty-first. During this time, banks provided adjustable-rate mortgages (ARM) to customers with poor credit histories at an attractively low introductory rate. After the introductory rate expired, the interest rate on these ARM loans rose, often dramatically, creating a sizable increase in the borrower’s monthly mortgage payments. As their rates adjusted upward, many of these “subprime” mortgage customers were unable to make their monthly payments and stopped doing so, known as defaulting. The massive rate of loan defaults put a strain on the financial institutions that had made the loans, and this stress rippled throughout the entire economy and around the globe.

The United States fell into a period of high and prolonged unemployment, extreme reductions in wealth (except at the very top), stagnant wages, and loss of value in personal property (houses and land). The S&P 500 Index, which measures the overall share value of selected leading companies whose shares are traded on the stock market, fell from a high of 1565 in October 2007 to 676 by March 2009.

Today, however, unemployment rates are down in many areas of the United States, the Gross Domestic Product increased 4.6 percent in the second quarter of 2014 (US Department of Commerce–Bureau of Economic Analysis), property owners have noted a slight increase in the valuation of housing, and the stock market appears to be reinvigorated.

Questions & Answers

discuss five factors that contributed to the emergence of sociology as an academic discipline
Evans Reply
why is there an increase in education in zambia
Caroline Reply
What is sociology
Celestina Reply
sociology is the study of groups and their way of interaction in the society
lucky
discuss the roles the family has failed as a primary agent of socialisation?
Lotyang Reply
the family has failed as a primary agent of socialisation because it has not been able to inculcate the needed values to bring unity in the society
Damba
please what are the stages in social movement
faith Reply
social movement is the movement where people gathered and keep their own demand to fullfill it social movement generally casus by name of women,untouchbility,dominance in the country
unknown
it also cause in emergence and decline of devlopment then aslo social movement causes generally
unknown
stages in social movement involved people's coming together for the means of interaction and for the welfare of the society
lucky
what is the overview of sociology
Simon Reply
factors that led to the emergence of sociology as an academic discipline
Evans
group life. historical dominancy. cultural variability, complex way of life. social classes and social crisis
Waqar
 The rise and development of sociology is based on political, economic, demographic, social and scientific changes.
Mohamed
sociology is the study of society and their behaviors and also their culture
anwar
theories of sociology
abdinur
sociology is the study of human behaviour
Sahara
sociology is the scientific study of behavioural perspective of human being towards their environmental change, cultural reliability, and all sphere of social value, norms that exhibit their socialisation in the society.
omotunde
social issues faced in India
Alan Reply
poverty untouchbility corruption child marraige overpopulation all this are the big issues of social in india:)
unknown
reservation system, polluted politics, people's exploration, illiteracy, etc.
what did August comte(1798-1857) say about social dynamics?
elia Reply
what is a monogamous family?
Basu Reply
family or marriage ?
asad
what is a monogamous family?
Basu
?
asad
What is family
Sukhjit Reply
family is type of relationship in this it deals with positive and negative tearms and conditions
unknown
who's a sociologist
Denis Reply
family is a group of people who are lived under one roof and they have a biological relation.
what is the origin and development of sociology?
namiak Reply
can any one will differentiate between social movement and pressure group?
Nasiru Reply
what is the origin and development of sociology?
namiak
Do you believe that Americans may be somewhat more ethnocentric than people in the other Western industrial nations? If so, why might this be the case? If not, why is this widely believed?
Elizabeth Reply
first of all the nation have the belive an faith in their ritualistic religion people go in different temple but they don't knew the culture and the ritual of all religions so human make the braches of religion and human follows it also with this Americans also follow their own god and goodness ...
unknown
Yes, because Americans are more inclined to their culture and want to superimpose theirs to the entire world. They always show their supremacy.
Hemendra
why do people deviate from socital norms
cornelius Reply
people deviate from scital norms because their reputation matter that is why they do not involve themself in big issue of society to solve the problem. They see what is going on they are aslo intrested to knew but they not say anything on that time its a human nature which is selfishness kind...
unknown
whar is the correct ans ?
unknown
what*
unknown
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Source:  OpenStax, Introduction to sociology 2e. OpenStax CNX. Jan 20, 2016 Download for free at http://legacy.cnx.org/content/col11762/1.6
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