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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

Go deeper

2 hours ago - World

Special report: Trump's U.S.-China transformation

Illustration: Aïda Amer/Axios

President Trump began his term by launching the trade war with China he had promised on the campaign trail. By mid-2020, however, Trump was no longer the public face of China policy-making as he became increasingly consumed with domestic troubles, giving his top aides carte blanche to pursue a cascade of tough-on-China policies.

Why it matters: Trump alone did not reshape the China relationship. But his trade war shattered global norms, paving the way for administration officials to pursue policies that just a few years earlier would have been unthinkable.

McConnell: Trump "provoked" Capitol mob

Senate Majority Leader Mitch McConnell (R-Ky.) said on Tuesday that the pro-Trump mob that stormed the U.S. Capitol on Jan. 6 was "provoked by the president and other powerful people."

Why it matters: Trump was impeached by the House last week for "incitement of insurrection." McConnell has not said how he will vote in Trump's coming Senate impeachment trial, but sources told Axios' Mike Allen that the chances of him voting to convict are higher than 50%.

2 hours ago - Politics & Policy

GOP leaders skip Trump sendoff in favor of church with Biden

House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Mitch McConnell (R-Ky.), Senate Minority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Kevin McCarthy (R-Calif.) in July. Photo by Erin Scott-Pool/Getty Images

Congressional leaders, including House GOP leader Kevin McCarthy and Senate Majority Leader Mitch McConnell, will skip President Trump's departure ceremony in Maryland tomorrow morning in favor of attending mass with incoming President Joe Biden ahead of his inauguration, congressional sources familiar with their plans tell Axios.

Why it matters: Their decision is a clear sign of unity before Biden takes the oath of office.