A child holds a balloon with his mother, May 2014. AP/David Goldman
New CAP report shows how the Great Recession created unique economic barriers for Millennials and what policies would help young women and families get ahead—not just get by.
Washington, D.C. —(ENEWSPF)–November 1, 2016. Millennial women face huge challenges to economic stability—especially as many of them are acting as both breadwinners and caregivers for their families—all while continuing to earn less than their male peers. According to a new report from the Center for American Progress, Millennial women working full time year-round earned just 87.6 percent of what their male peers received in 2015. Although this disparity is smaller than the wage gap for all ages, CAP’s report postulates that some of that narrowing is due to the depression of wages across the generation—so the wage gaps are smaller, but the paychecks are too.
In addition to CAP’s findings on the Millennial wage gap, the report also examines other economic challenges many Millennials face, including wage stagnation, unprecedented levels of student debt, and outdated workplace standards. CAP also puts forth inclusive, modern policy solutions that would help provide Millennials a shot at economic stability and security, alongside stories of Millennial women around the country.
“Increasingly, Millennial women are acting as both caregivers and breadwinners, with the added challenges that come with entering the labor market, accessing education, and starting families during the Great Recession and subsequent recovery,” said Sunny Frothingham, Senior Researcher for Women’s Economic Policy at the Center for American Progress and author of the report. “Key working family policy solutions are imperative to ensuring that Millennials have a fair shot at economic stability.”
CAP’s report lays out how policies such as restoring worker bargaining power, expanding access to reproductive health, increasing paid family and medical leave, and offering high-quality affordable child care would benefit Millennial workers, women, and families.
Millennials account for more than one-quarter of the national population, one-third of the labor force, and one-third of the eligible voting population. Ensuring that every family has a fair shot at getting ahead will lead to broader economic stability for not just Millennials but also for the nation as a whole.
Click here to read “A Fair Shot for Millennial Women and Families” by Sunny Frothingham.
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