Women were paid 18% less than men on average in 2024 on an hourly basis — the smallest gender wage gap on record — according to data from the Economic Policy Institute.
Five notes:
1. The gender pay gap narrowed between 1979 and 1994, then remained flat until 2022, according to the EPI’s “State of Working America Wages 2024” report.
2. Recent improvements may be tied to post-pandemic recovery, according to the EPI. The gap shrank from 20% in 2022 to 18.9% in 2023, likely driven by wage growth at the lower end of the labor market following the recession precipitated by the COVID-19 pandemic.
3. The gap is highest among high earners. At the 90th percentile, women earned 18.6% less per hour than men — a difference of more than $26,000 annually for full-time workers. At the 10th percentile, the gap is smaller, with women earning 8.7% less, or nearly $2,700 less per year.
4. Women earn less than men at every education level, despite being more likely to hold a graduate degree. In 2024, women with a college degree earned about $25,200 less annually than men with the same education level. The gap is more than $32,500 annually for those with advanced degrees.
5. Black and Hispanic women experience the most significant pay gaps. At the median, Black women earned 69.6% of white men’s wages — a difference of about $18,900 annually for full-time workers. Hispanic women earned 65.3% of white men’s wages, or more than $21,500 less annually.
