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The Equal Pay Act of 1963 is a United States labor law amending the Fair Labor Standards Act, aimed at abolishing wage disparity based on sex (see gender pay gap).It was signed into law on June 10, 1963, by John F. Kennedy as part of his New Frontier Program. [3]
One such study focused on gender wage differences in 1985 between the college graduates. [8] The graduates were chosen from the ones who earned their degree one or two years earlier. The researchers took college major, GPA (grade point average) and the educational institution the graduates attended into consideration.
Twenty years later, legislation passed by the federal government in 1963 made it illegal to pay men and women different wage rates for equal work on jobs that require equal skill, effort, and responsibility, and are performed under similar working conditions. [28] One year after passing the Equal Pay Act, Congress passed the 1964 Civil Rights Act.
Occupational inequality greatly affects the socioeconomic status of an individual which is linked with their access to resources like finding a job, buying a house, etc. [4] If an individual experiences occupational inequality, it may be more difficult for them to find a job, advance in their job, get a loan or buy a house.
According to a December 2020 analysis of W-2 earnings data from the Economic Policy Institute U.S. income inequality is worsening, as the earnings of the top 1% nearly doubled from 7.3% in 1979 to 13.2% in 2019 while over the same time period the average annual wages for the bottom 90% have stayed within the $30,000 range, increasing from ...
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Two decades from now America could turn into a rentier-dominated society even more unequal than Belle Époque Europe. [38] One study extended the superstar hypothesis to corporations, with firms that are more dominant in their industry (in some cases due to oligopoly or monopoly) paying their workers far more than the average in the industry.
The way that poor families deal with the time debt is for the main caretaker to intensify the time that they spend working, by doing multiple jobs at once instead of doing one job at a time. When people increase the intensity of their work to compensate for their lack of time to finish everything that needs to get done, called work intensity ...