Through the early 1960s, it was common practice for employers to segregate job listings for men and women. In many cases, identical ads were run for each gender – but with a lower pay rate for the job targeting women.
That is, until 1963, when it became illegal to pay women lower wages for the same job through passage of the Equal Pay Act under President Kennedy.
While women have made measurable progress in the workplace since passage of the Act, a severe gap persists. In 1963, women earned 59% of what men took home. Forty seven years later, women now earn 77% of their male counterparts. The loss of 23 cents on the dollar translates to a pay gap of over $10,600 between the median annual earnings of men and women. Over a lifetime of work, this translates to a loss of at least $700,000.
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