Black women working full time, year round are paid only 63 cents for every dollar paid to their white, non-Hispanic male counterparts – leading to a lifetime loss of $867,920.
When comparing all men and women who work full time, year round in the United States, women are paid 80 cents for every dollar paid to their male counterparts. But the wage gap is even larger when looking specifically at Black women who work full time, year round: they are paid only 63 cents for every dollar paid to white, non-Hispanic men. This gap, which amounts to a loss of $21,698 a year, means that Black women have to work more than a year and a half (19 months) to earn as much as white, non-Hispanic men in the previous 12-month calendar year. Over time, the wage gap has a compounding effect on Black women’s ability to build wealth (such as liquid savings, retirement savings, investments, real estate or business assets). Recent data shows that single Black women have a median wealth amounting to $200, which is paltry compared to what single white women ($15,640) and single white, non-Hispanic men ($28,900) own. The wage gap plays a pivotal role in contributing to this wealth gap, and is an obstacle to Black women’s economic security over the course of their lifetimes.