Writer Gilliam B. White wrote that the issue on pay quality matters. He expressed that he is frustrated at the fact that such a common argument is not being given its due worth and attention. The Atlantic reports that women's pay has slowly increased compared to men's income but it has halted in 2015.
Recently, more women are working and many are the primary, if not sole, earners in their households. And young women are more likely than young men to hold a college degree. A story from the New York Times tells the experiences of two female engineers trying to raise money to create a tampon that would take advantage of the period to collect data about the wearer's health. But the project was never funded. Someone told them that it would only benefit half of the population - the women population. Though this example may be extreme, the article describes that the status quo is real.
However, the article goes on to say that if women's pay increases, everyone else will benefit. If it doesn't, it can also be bad for men and the whole economy. The government and businesses should now take a more proactive role in discussing and bringing gender equality to the table.
A McKinsey Global Institute report dictated some numbers on how this pay inequality gap could boost the economy. By 2025, its report estimates, that if women were paid equally, if they worked the same number of hours as men, and if they were represented equally in every sector-could result in an additional $4.3 trillion being added to the U.S. GDP. This is a 20% boost that the current rate. Companies could invest more in training their employees and toward hiring bigger staffs, as well as eliminating in-house gender-wage gaps and devoting attention to creating work environments that are inviting to women.
