Where are women standing? These four female leaders weigh in

White women earned 79 cents, while Asian American and Pacific Islander women earned 85 cents. Worse still are black women, who made 63 cents, while Latinas made 55 cents and Native American women made 60 cents. This is according to a report from the National Women’s Law Center, which based its estimates on data of the average income for full-time employees who work year-round from the Census Bureau.

So what’s next for women? CNN Business asked four women leaders their views on the state of affairs and their hopes for what lies ahead.

About the pay gap between men and women

Fatima Goss Graves, President and CEO of National Women’s Law Center

Even before the pandemic, the pay gap left women short of more than $ 10,000 a year. These lost earnings are now amplifying the economic impact of the pandemic-induced recession, robbing women and their families of a financial buffer when they need it most. As women who have lost their jobs will look for work in the coming months and years, there is a risk that the pay gap will widen as many will feel the pressure to take the first offer – often at a lower level than before – simply because they don’t have the savings to endure anything better.

Kim Churches, CEO of American Association of University Women

We’re not in a good place, and I’m afraid that at best things will get stuck or at worst, things will decline. Women suffered more layoffs and lost jobs during the pandemic because so many work in the retail and service sectors. And many other women have been forced to quit their jobs due to care requirements. As we embark on plans for economic recovery, we must address the systemic issues that create the gender pay gap. Until Covid-19, women were making big strides, but the pandemic has reversed all of our hard-earned progress. We must redouble our efforts to achieve equality now and demand change.

Rachel Thomas, Co-Founder and CEO of LeanIn.org

The pay gap hurts all women, but it’s also critical to recognize that it hurts some women a lot more than others. Latinas and black women face huge system barriers. They are over-represented in low-wage jobs that do not provide essential benefits, such as paid time off. Many are struggling with childcare costs, which have nearly doubled in the past two decades. And they face discriminatory credit practices that make it more difficult to amass wealth. To fix this, a real system change is needed. Business leaders must close the gender pay gap once and for all. And policymakers must raise the minimum wage to $ 15 an hour, make childcare much more accessible and affordable, and provide all employees nationally paid leave for family reasons.

Dr. C. Nicole Mason, President and CEO of the Institute for Women’s Policy Research

The gender pay gap continues to affect long-term economic security and women’s well-being. Since 1985, the difference has only closed by about 18 percentage points. That’s freezing. At this rate, it will take more than 40 years to close the pay gap. For black and Latino women, it takes more than a century. This means that my daughter and the daughter of my daughter’s daughters will not see fairness in their life. Women earn less than men in almost every profession. This applies to professions dominated by women and to professions dominated by men.

About women in leadership

Churches: Of course we have made some remarkable gains. Today America elected a female vice president; the most powerful person in Congress is a woman; the number of women leading Fortune 500 companies has reached a record 37. But come on – that’s far from equity! About half of the workforce is made up of women, and we are still a long way from half of the leadership positions in each industry. We need a culture change, and we need to be proactive in removing the barriers and prejudices that keep women from taking leadership roles in every area.

Digging: Promoting solutions that bring families out of this pandemic will be due in no small part to the inclusion of women in the rooms where these decisions are made. Women – especially women of color – understand the lived experiences of those who suffer the most. But we must remember that while these leaders are here right now, they may not be without deliberate investment in a generation of leaders who will come behind them. The Covid-19 crisis has put so many women out of work. These women are not only today’s workers, they are tomorrow’s leaders.

Mason: I am optimistic about women’s leadership. Right now, women are leading the way in huge ways. From Kamala Harris, the first female vice president, to Sue Nabi, CEO of Coty to secretary Janet Yellen, women currently lean and serve as national experts on critical issues such as the economy, national security and private sector growth. sector. They show how we can lead inclusive and for our greatest and common good.

Thomas: Senior leaders are under tremendous pressure right now – and women face the same demands as men and a whole lot more. This is likely rooted in two dynamics: Higher-level women are more likely to have childcare responsibilities, and decades of social science research shows that we view women in leadership by higher standards than men. Women in executives are twice as likely as men at senior levels to think about scaling back their careers or leaving the workforce as a result of Covid-19. Women are already underrepresented in leadership, and we can’t afford to lose what little we have. Compared to men on the same level, women leaders are more likely to defend racial and gender diversity, advocate for employee-friendly policies and programs, and mentor and sponsor other women.

About women in the workforce

Mason: The pandemic has had an inordinate impact on women, forcing more than five million women out of the labor market. The intersection of motherhood and work has certainly made the economic downturn more unbearable for women. This is a moment of public reckoning and revelation that would not have been possible without the twin crises of the pandemic and the economic downturn. I hope we can use it to motivate us to reimagine a society, including our workplaces and homes, that provides more support for working women and their families.

Digging: Even before the pandemic, millions of low-paid women across the country were on the edge of a fiscal cliff – barely living from paycheck to paycheck, working on makeshift childcare, and routinely lacking basic protections like paid sick leave and health insurance. Once the pandemic hit, massive job cuts by women in industries where they were the vast majority of workers – such as retail, leisure and hospitality and education – collided with a collapsing childcare system to create a perfect storm that disproportionately affects women. scrambled low-paid black women and Latinas – in the crosshairs of the crisis. Women who want to return to work after the Covid-19 crisis will need every tool at their disposal to prevent long-term damage to their wages and ensure the ability to challenge discrimination when it arises.

Thomas: In short, Covid-19 is a disaster for women in the labor market. Businesses must redouble in retaining, hiring and promoting women – and in addressing the barriers and prejudices that have long limited women’s progress – otherwise they risk losing years of progress toward gender equality. It will also be critical that companies create a culture that embraces virtual work, and that they create standards and processes to ensure that remote workers have the same support, access and opportunities as office workers. Otherwise, outside workers – who are likely to be disproportionately women – will be overlooked and excluded.

Churches: There is no doubt that women are a vital part of the workforce and that the American economy benefits greatly from their contributions. But a troubling problem is how gender-based our workforce remains: Men still dominate in some areas and women in others, usually those who pay the least. That, in a nutshell, is occupational segregation. There is no reason at all that more women are not working in manufacturing, trade and of course in the STEM fields. Just as there is no reason for men not to have a job as a teacher, librarian, nurse. Research has repeatedly shown that business results are improved by a diverse workforce. It is in everyone’s interest that we achieve this.