Apr 2, 2019

The gender wealth gap

Illustration: Rebecca Zisser/Axios

The gender wage gap has noticeably improved over the decades, but the gender wealth gap — including savings, equity and long-term earnings — still has a long way to go.

Why it matters: Achieving economic parity isn't just about equal pay for equal work — it's also about all the societal circumstances that handicap women.

The long-term wage gap: Women tend to have more gaps in their employment, such as time off to raise children and part-time work while caring for a family member.

  • Last year, the Institute for Women’s Policy Research published a study showing women earned only 49 cents on every dollar compared to men over a 15-year increment.
  • 28% of women and 59% of men in the 2001–2015 period worked at least 12 of those 15 years full time. 57% of women and 77% of men in that period worked full time every year (no years off).
  • For women (and men) who took just one year off from working during that period, their earnings were 39% lower.
  • Even women who didn't take time away during the 2001–2015 period still only earned 67 cents for every man's dollar.

The savings gap: Only 56% of 18- to 34-year-old women have savings, compared to 70% of men.

The startup equity gap: Women own just 9% of all equity, despite making up 33% of founders and employees.

  • Women own just 6% of all founder equity despite representing 13% of all startup founders, according to Carta and #Angels. This translates to 39 cents in equity for every dollar that a male founder owns.
  • Women own just 20% of employee equity despite being 35% of all employees who hold equity. That's 47 cents for every dollar of male employees' equity.

The racial pay gap among women: Among U.S. women who hold full-time, year-round jobs, black women are typically paid 61 cents, Native American women 58 cents and Latinas 53 cents. White women earn 77 cents, and Asian American women 85 cents, for every dollar paid to white men, according to U.S. Census Bureau data.

Go deeper: This gender pay gap chart is worthy of your time

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Coronavirus updates: World case count tops 600,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Japanese Prime Minister Shinzo Abe warned that the novel coronavirus pandemic could worsen if people fail to take the appropriate containment measures, at a Saturday news conference in Tokyo.

The big picture: The U.S. leads the world in confirmed coronavirus cases, as the number of global cases nears 620,000. Governments around the world are trying to curb the medical and financial fallout of COVID-19, as infections surge across Europe and the U.S.

Go deeperArrowUpdated 5 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 618,043 — Total deaths: 28,823 — Total recoveries: 135,736.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 11 a.m. ET: 104,865 — Total deaths: 1,709 — Total recoveries: 894.
  3. Federal government latest: President Trump signed the $2 trillion coronavirus stimulus bill to provide businesses and U.S. workers economic relief.
  4. State updates: A group of Midwestern swing voters that supported President Trump's handling of the coronavirus less than two weeks ago is balking at his call for the U.S. to be "opened up" by Easter. Alaska is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month.
  5. World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day. In Spain, over 1,300 people were confirmed dead between Thursday to Saturday.
  6. Business latest: President Trump authorized the use of the Defense Production Act to direct General Motors to build ventilators for those affected by COVID-19. White House trade adviser Peter Navarro has been appointed to enforce the act.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancing.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

The one-minute coronavirus story

Illustration: Sarah Grillo/Axios

News about the coronavirus is so big and coming so fast that it's hard to remember what happened just last week, let alone last month.

Here's the quickest possible review of the story so far — how it happened and how the U.S. lost control.

Go deeperArrow3 hours ago - Health