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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

Explain the importance of beliefs or a note of Beliefs.
Shuvhe Reply
sociological lmagination
Kelley Reply
what is gender studies
Muhammad Reply
origin and development of sociology
Rakshita Reply
what's to join
Prisca
What is gender studies
Muhammad
it means either of the two sexes (Male /female)
Prisca
thanks bro
Muhammad
thank u
Rakshita
gender studies is the study of the roles that men and women play in our society ...how those roles have been shaped..what factors have influenced them ...and their pros and cons etc
Babar
is sociology similar to political science
connect
hey guys iam a new member of this community can u tell me exactly what sociology is to be real I don't know anything about it iam interested to learn
connect
sociology is the study of social life...society, culture, social changes etc
Babar
the study of human behaviour and how interact with each other
Kimoya
what is Becker 1963
Karen Reply
sociology kisse mil ker bna hai
Poonam Reply
"Logy" means study n "social" is society.
Reemiya
Socius and logos
Silent
waah Raj
Rishit
Definition of sociology
Shashi Reply
sociology is the study of social life, social change, and the social causes and consequences of human behavior.
Sunny
as the implies it is the study of both sex in the environment
Philip
sociology is is the study of human behavior
Muhammad
sociology is the science of society
Rehana
what is culture
Anuman Reply
To me what culture is what you grow up with in your family. What are some of the customs and ritual that you follow. Your parent maybe born in there country, while u are born in the United States. You can clash both cultures together or identity yourself more with one than the other.
Josephine
There are people who follow there culture like a book and there are people who don't follow there cultural as much.
Josephine
culture is what makes you more like your environ and imprison your thought process.
Noor
how a researcher can conduct his theoretical framework
AMINU Reply
what are the major ways that are use to prevent our youth from drug abuse
AMINU Reply
1.keep them engaged in positive activities like study,sports. 2.Provide them jobs. 3.Married people are less inclined towards drug as they have to shoulder family responsibility. 4.Law system also need to play their role to control drug mafias. 5.rehabilitation centers for drug abused should be ther
deepak
would love to know others thought on this
deepak
keep them engaged in positive activities
Rizwana
implement the Law is one and forcing the law is two, which is the weak point of the government to stop drug abuse.
Pupa
tackling corruption, poverty and illiteracy is very essential
Farous
how does poverty have an impact on drug abuse. In my opinion, I think if you don't have money to eat how do you get money for drugs.
Eunice
Characteristics of culture
Yusuf Reply
.
deepak
hhhhhh
Yusuf
?
Rizwana
How has sociologists views shaped the way we think of society today?
seba Reply
why sociological imagination called sociological lens?
Crisel Reply
since the views of sociology derive from the minds of those who think as they do, this is called the sociological lens. Our imagination is only limited to how we think and we perceive things as a result of thinking vigorously. A sociological imagination focuses on the depth of a concept or idea...
seba
I agree what seba said.
Josephine
what are the measures that are used to cure and prevent our society from repping
AMINU Reply
what is Hawthorne effect
Karen Reply
It is when the respondent is influenced by the researcher For example the respondent might lie to impress the researcher thus Hawthorne effect is include
Soumeyrah
Practice Key Terms 3

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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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