Over the past century, American women have made tremendous strides in increasing their labor market experience and their skills. On Equal Pay Day, however, we focus on a stubborn and troubling fact: Despite women’s gains, a large gender pay gap still exists. In 2013, the median woman working full-time all year earned 78 percent of what the median man working full-time all year earned. A new issue brief from the Council of Economic Advisers examines what we know about the pay gap. 1. The pay gap goes beyond wages and is even greater when we look at workers’ full compensation packages. Women are less likely to have an offer of health insurance from their employer, have retirement savings plans, or have access to paid leave , and perhaps as a result, they are more likely to take leave without pay. These broader measures of compensation show that the pay gap is not just about differences in earnings or wages. But why do women earn less than men? Let’s break it apart so we can better understand what is driving the pay gap. read more

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Five Facts About the Gender Pay Gap: