Economic News

  • Report: The widening income gap between men and women in the world is expected to take 257 years to eliminate

    The Wall Street Journal reported that the income gap between men and women in the United States continued to widen in the third quarter of 2015. According to a latest report of the World Economic Forum, the global income gap between men and women will further widen in 2019. It is currently estimated that 257 years will be needed to close the gap, more than half a century later than the 202 years predicted by the Forum in 2018. The latest data released by the U.S. Department of Labor on October 20 showed that in the third quarter of 2015, the median weekly salary of full-time male employees rose 2.2% to 899 U.S. dollars compared with a year ago. The median weekly salary for full-time female employees was $721, up only 0.8% from the previous year. This means that between July and September this year, a male employee earned one dollar while a female employee earned only 81.1 cents.For three consecutive quarters, the increase in the income of male employees was at least twice as fast as that of female…

    December 18, 2019