The gender wage gap gets a lot of attention, but another metric is even more disconcerting

It’s an interesting time to be a woman.

For the first time, a woman secured the backing of a major political party as a presidential nominee in 2016. There are more women serving in the U.S. Senate than ever before. Young women have outpaced young men in postsecondary enrollment and educational attainment. And as more women pursue higher education, they are likely to earn more than past generations, with many able to potentially achieve greater financial independence.

It feels like there is great momentum and, yet, it’s important to put it all in perspective.

Today, the gender wage gap receives significant attention, with women earning 77 cents or less on the dollar as compared to men. But even more disconcerting is the gender wealth gap defined as the discrepancies in net worth between men and women. And the statistics are staggering. White women own only 32 cents for every dollar owned by their male counterparts, while women of colour own even less, averaging only pennies on the dollar compared to white men. The median net worth for African-American women in 2013 was $US200 and half that — a staggering $US100 — for Latina women in the United States.

By definition, wealth is the difference between an individual’s assets and liabilities. But the concept of wealth is so much more. Wealth is the ability to pay for an emergency or other unexpected expense, the freedom to buy a home or pursue higher education, the security of saving for retirement. In short, wealth is stability and opportunity. Read more

Diana Farrell, Karen Persichilli Keogh and JP Morgan Chase - Business Insider - 16 May 2017