The typical woman born between 1955 and 1959 has lost $531,502 in cumulative lifetime earnings because of America's gender-pay gap, according to a new report from the Institute for Women's Policy Research.
Losses from the gap accumulate over the course of a woman’s lifetime, and each year represented tens of thousands of lost dollars, the group says.
Among college-educated women, the losses were even greater, at nearly $800,000, due in part to the larger gender wage gap that women with this level of education face.
Here's the chart:
The group does not project cumulative losses for today's younger women. But while the average annual gains in female earnings has accelerated from the past 50 years, the group calculates that it will still take until 2058 — 43 years from now — to close the gap entirely from its current level of 79.2 percent. The absolute gap between men and women currently stands at about $10,000 (the median annual earnings for women employed full-time, year-round is $38,000, the group says), meaning this generation of young women are still in for substantial losses.
"The glass ceiling persists, and occupational segregation—the concentration of women in some jobs and men in others—remains a stubborn feature of the U.S. labor market," the reports authors write.
Read the rest of the results of the report here »
Rob covers business, economics and the environment for Fusion. He previously worked at Business Insider. He grew up in Chicago.