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No progress made in closing gender pay gap: Census data

New data released by the U.S. Census Bureau shows that no progress was made on closing the gender pay gap between 2018 and 2019. Yahoo Finance’s Sibile Marcellus joins Akiko Fujita to discuss.

Video Transcript

AKIKO FUJITA: Let's turn our attention now to the gender pay gap because a new census data reveals there has been no progress made on that front in terms of trying to close the pay gap there.

I want to bring in Sibile Marcellus, who's been tracking those numbers for us. And Sibile, I feel like this story has been the same for a very long time now. But what does the latest census data point to?

SIBILE MARCELLUS: That's right, Akiko. It is disappointing to see and hear that there is no progress when it comes to closing the gender wage gap. We have new data from the census from between 2018 and 2019 that shows that women haven't really advanced in pay, despite the efforts for more advocacy and women speaking out about this issue and this problem in corporate America and in the workforce.

So here is what we're seeing in terms of the numbers. The other thing I should mention real quick is that also, because we're in a pandemic, we've seen that millions of Americans have lost their jobs. But women have been hit particularly hard.

For instance, in April we saw that it was a majority women who were laid off versus men. So when you look at what the census is saying in terms of the efforts to close the gender wage gap and the no progress we're seeing there, for white women it has pretty much stayed the same.

This is broken down by race. But for Black and Hispanic women, the gender pay gap has only closed by one penny. So if you look at the numbers, it was $0.62 and $0.54 in 2018 respectively. And in 2019, it went up to $0.63 and $0.55 to $1 white man's in terms of earnings.

AKIKO FUJITA: Well, that is some depressing data there. Thanks so much for that, Sibile.