The Institute for Women’s Policy Research recently published a new report on The Impact of Equal Pay on Poverty and the Economy. This in-depth study explores the economic benefits that equal pay would offer families with a working mother – as well as the harsh realities that Americans currently face due to the wage gap.
Top findings include:
- Nearly 60 percent of women would earn more if working women were paid the same as men of the same age with similar education and hours of work. Nearly two-thirds (65.9 percent) of working single mothers would receive a pay increase.
- Providing equal pay to women would have a dramatic impact on their families. The poverty rate for all working women would be cut in half, falling from 8.0 percent to 3.8 percent. The very high poverty rate for working single mothers would fall by nearly half, from 28.9 percent to 14.5 percent.
- For the 15.3 million single women—divorced, widowed, separated, and never married women living on their own—equal pay would mean a significant drop in poverty rates from 10.8 percent to 4.4 percent.
- Approximately 25.8 million children would benefit from the increased earnings of their mothers if they received equal pay.
- The number of children with working mothers living in poverty would be nearly cut in half, dropping from 5.6 million to 3.1 million.