BUFFALO, N.Y. (WKBW) — So many people are stressed about rising prices, making ends meet and planning for the future. All things that can be much tougher for women.
"We're not making enough progress we're looking at 100 years before we have pay equity," said Sheri Scavone, CEO of the WNY Women's Foundation.
They have been releasing information about several barriers women in WNY are up against, one of those being the wage gap.
Wage Gap Fast Facts
Women outnumber men in college, but that still doesn't help close the gap.
"The data shows that as women become more educated, that wage gap actually increases, which is really crazy," said Scavone.
And as women age, it only gets worse. One of the fastest growing populations of those living in poverty is senior women.
"Women's 401k balances are 65% less than men," said Scavone.
There's also the "Motherhood Penalty" which contributes to the gap.
"It's the phenomenon of, 'Oh a man needs to take care of his family, so we're gonna pay him more,'" said Scavone. "'The woman can't possibly be working as hard as before she had that child so she's gonna get paid less.'"
Comparing all men and women in NYS with jobs, the annual gender wage gap is $10,437.
Are you making a living wage?
MIT has this cool tool that shows you if you make a living wage based on where you live, how many children you have and if you're working.
For example, if you're a working adult living in Erie County, single, no kids, you'd need to make $43,963 before taxes to make a living wage.
Now let's add two kids to the mix, you'd have to make $106,647.
The WNY Women's Foundation has more information coming out in May about the wage gap locally and what we can do to address it.
