K-shaped economy puts pressure on women, as lower pay and higher costs reduce spending

“The wage gap for women is 81 cents for every dollar a man makes, but it’s especially wide for women of color — 65 cents for Black women, 58 cents for Latina women and also 58 cents for Native [American] women,” said Vasu Reddy, director of state policy for workplace justice at the National Women’s Law Center, a nonprofit that advocates for women’s legal rights.

As a result, “women’s spending power is reduced,” she said. “What you can afford is determined directly by your wages.”