A new report shows the gender gap in wages closing, but not because women are finally making more—men are making less.
Yes, we're closing in on a dead heat in the race to the bottom. As the LA Times reports today, the disparity in median hourly pay between men and women narrowed to 18.3% in August from 21.5% five years earlier. The U.S. Labor Department also noted recently that the wage differential in 2005 was the smallest since the department began tracking it 33 years ago, when it was 36.9%.
"Wages generally have been depressed, but men's have been more depressed," said Michele Leber, chair of the Washington-based National Committee on Pay Equity.
So in addition to rising housing, medical, and insurance costs, Americans are earning less. And the Administration can't figure out why most Americans aren't "feeling" this economic boom Wall Street is all sweaty over?