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Income and Gender Inequality in Todays World

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INCOME AND GENDER INEQUALITY IN TODAYS WORLD
In President Obama 2012 State of the Union, he called it "the defining issue of our time." (CNN). Income inequality is the extent to which there is a distribution of revenue unevenly among the population. Unfortunate this creates a gap between the rich and everyone. It also gives the idea whether income distribution is fair or unfair. Income inequality is growing in the market day by day, and it is calculated based on the population present in the economy. The United States has a comparatively high level of income inequality results from labor market changes, changes in household composition, the shift from industrialized employment to high paying technical services jobs, and lower paying retail trade jobs.
The argument has deliberated by some who say that in one way, income inequality can fuel economic growth. According to their argument, a greater portion of the rich's income is not spent on consumables, but instead, they are likely to save and invest more (AAUW). As a result of this, there is predictable economic growth due to the increased investment made by those with high incomes over the years. Income inequality is viewed by most people to be a result of government policies that impact the distribution of revenue among its population (AAUW).
Gender income inequality is the gap between the income of men and women among the people in the economy. It is the average difference between male and females aggregate hourly income. Through media and researchers, we acquire to know more on the issues of gender inequality in different areas of our society. However, although considerable progress has been made during the twentieth century, in an attempt to balance the rights of women and men, they still do not seem to be met daily (AAUW). Having a job is considered important for men and women, although the centrality of work is organized entirely different by gender. This form of inequality persists in all areas such as involvement in decision-making and promotion and professional careers (AAUW).
Men earn more than women in many nations on average have hourly salaries below those of their male colleagues. These wage differences vary as extensively as 10 - 40 percent, comparing and averaging the whole working population split by gender. Women seem to be short of time to receive more. They often have more jobs to do than just work for money; they have domestic responsibilities and not to mention sometimes sexually harassed by men, which creates career consequences that may lead to leave-taking or departure due to stress. On the other hand, women earn more than men due to either having equal or more education, work full time and have been able to negotiate their salaries (Wage indictor.org).
The gender wage gap is the reality that men and women work in different occupations; this accounts for up to 49.3% of the wage gap, according to some estimates. Women are much more likely than men to be clustered in just a few occupations, with nearly half of all working women 44.4 % employed in just 20 occupations, including secretaries and administrative assistants, registered nurses, and school teachers. In the meantime, about 34.8 % of men are employed in the top 20 occupations, including truck drivers, managers, and supervisors.
The most common marker for the gender wage gap asserts that women earn only 79% of men's earnings, a difference of 21% (AAUW). However, a significant amount of conflict surrounds statistics measuring and quantifying the gender wage gap, and this confusion is not entirely without merit. Some of the controversies around wage-gap estimates and figures are at least partly because the exact number changes slightly depending on the data source used.
According to the article, gender pay grows with age, and differences among older workers are considerably larger than gaps among younger workers. Earnings for full-time workers both male and female tend to increase with age, with a plateau after 45 and a drop after age 65 (AAUW). Women typically earn about 90% of what men are paid until they hit 35. After that median earnings for women are 76–81 % of what men are paid (AAUW).
Education and on the job training also plays a significant factor in gender wage gap. Earnings increase for both men and women. While more education and job training is an effective tool for increasing revenues, but it is not a useful tool against the gender pay gap. At every level of academic achievement, women's earnings are less than men's and in some cases; some gender pay gap is larger at higher levels of education. While gender wage gap exists in nearly every occupational field, jobs usually associated with men tend to pay better than female jobs for the same level of skill required. This segregation of occupations is a factor behind the gender wage gap in our nation.

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