IDEX Online Research: Women’s Earnings Climb, Good for Jewelers
February 20, 13
(IDEX Online) – The historic inequality between men’s and women’s earnings for the same job diminished in 2011 in the
Women earned about 82 percent of a typical man’s salary for the same job in 2011, up from 81 percent in 2010, based on the latest data from the U.S. Bureau of Labor Statistics. In 1979, the disparity between women’s and men’s pay was dramatic: women earned only 62 percent of men’s pay for the same job. Clearly, significant progress towards wage equality is being made.
The graph below summarizes the growth of women’s earnings relative to men’s income for the same job.
While women have made steady progress in closing the gap between earnings of the two genders, there have been mild setbacks along the way, generally related to economic softness when higher-paid women were laid off first and lower-paid females were kept on the payroll.
Less Wage Disparity among Younger Workers
The really good news for jewelers is that there is far less wage disparity between genders for younger workers. These young consumers are important to the
Among workers 20-24 years old, females earn more than 93 percent of male earnings for the same job. This compares to female workers age 55- 64 who earn just 75 percent of a male’s pay for the same job.
The graph below summarizes wage disparity between genders by age group.
Implications for Jewelers
American jewelers should target younger consumers. Their earnings are higher than their predecessors, and they want fashion jewelry. While their average ticket may be lower, they tend to buy more jewelry more frequently. However, they want fashion jewelry, preferably something that is unique.