In recent decades, there has been one of the most significant social changes; the economic status of women. Women have not only joined the labor-force but also enhanced their education, improved their occupational status, and economic rewards. In 1963, President John F. Kennedy signed the Equal Pay Act. This was such growth for women all over the United States. It was the beginning of equality between men and women and that progress has continued into today’s society, with only one exception: women are still paid less than men. From the 1970s, the gap in pay has tremendously decreased due to the fact that women have made progress in the educational and workforce environments. Though, despite the hard work of men and women who try to close the gap, it has defied every effort. Many studies on worldly changes in the gender pay gap have been done by economists, who divide it into two different parts: the explained portion of the gap and the unexplained portion. The explained portion is the gender differences in characteristics that are work-related. Evidence:
In the last year, women were paid only 79% of what men received. That is a 21% gap, though, this is smaller than what women were
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This research was based on men and women who made the same educational and occupational choices and a gap in pay was still found. This gap prompts consequences for women, such as having difficulties repaying their student loans. The report has found that full-time working college graduates repaying loans one year after graduation, 53% of women compared to the 39% of men were paying more than what they could actually afford to their debt. (Forbes, The Awful Truth Behind The Gender Pay,