Connect with us

Business News

Is the gender pay gap smaller than is being reported? #UnevenProgress

A new study indicates that although the pay gap between genders may not be as high as politicians report, the progress is extremely uneven, depending upon industry.

Published

on

social media marketing

78 cents for every 100

Even with the groundbreaking Lilly Ledbetter Fair Pay Act passed seven years ago, the gender pay gap is still very real both in the U.S. and around the world. The White House estimates the average full time female employee makes just 78 cents for every dollar earned by the average male employee.

bar
A comparison of compensation paid to men and women in the U.S. suggests the country’s gender pay gap might be smaller than what is commonly reported. This finding comes from new research published by Glassdoor.

Led by Glassdoor chief economist Andrew Chamberlain, the study analyzed more 500,000 salary reports from its users. According to the site, broadly comparing what the average man makes compared to the average woman can be misleading.

Such results often don’t account for age, education, years of experience, industries in which there are particularly high male or female concentrations or geographic locations.

An apples-to-apples comparison

Glassdoor went a step further in order to get an apples-to-apples comparison. Before adding in statistical controls, Glassdoor found the average full-time female worker makes just 76 cents per dollar what the average male worker earns in the U.S. labor market.

After adjusting for a handful of variables such as job title, employer, and location, the report found women still get paid less, earning about 95 cents for every dollar earned by men. Even though this finding indicates the gender gap might be smaller, it is no less real or significant.

The finding suggests that female workers make 5.4 percent less than men just for having an extra X chromosome.

The pay gap depends highly upon industry

When it comes down to it, the amount of pay gap disparity all depends on what you do. Men still earn more money than women in most professions. In many individual occupations, the 5 percent pay gap is actually much wider. For instance, women who are computer programmers, chefs, and dentists only earn 72 cents for every dollar men in those same positions earn.

Glassdoor’s report even found a few occupations in which men get paid less on average than women. Women social workers, for instance, earn about $1.08 for every dollar a man earns. Even though they exist, the problem remains that those positions don’t pay nearly as well as the jobs in which men draw top dollar, nor is the reverse pay gap anywhere as big as 28 percent.

#UnevenProgress

Nichole earned a Master's in Sociology from Texas State University and has publications in peer-reviewed journals. She has spent her career in tech and advertising. Her writing interests include the intersection of tech and society. She is currently pursuing her PhD in Communication and Media Studies at Murdoch University.

Business News

RIP office culture: How work from home is destroying the economy

(BUSINESS NEWS) It’s not just your empty office left behind: Work from home is drastically changing cities’ economies in more ways than you think.

Published

on

An empty meeting room, unfilled by work from home employees.

It’s been almost six months since the U.S. went into lockdown due to COVID-19 and the CDC’s subsequent safety guidelines were issued – it’s safe to say that it is not business as usual. Everyone from restaurant waitstaff to start-up executives have been affected by the shift to work-from-home. Even as restrictions slowly begin to lift, it seems as though the office workspace – regarded as the vital venue for the U.S. economy – will never truly be the same.

Though economists have been focusing largely on small businesses and start-ups, we are only just beginning to understand the impact that not going back into the white-collar office will have on the economy.

The industries that support white-collar office culture in major cities have become increasingly emaciated. The coffee shops, food trucks, and food delivery companies that catered to the white-collar workforce before, during, and after their workday, are no longer in high demand (Starbucks reported a loss of $2 billion this year, which they attribute to Zoomification). Airlines have also been affected as business travel typically accounts for 60%-70% of all air travel.

Also included are high-end hotels, which accommodate the traveling business class. Pharmacies, florists, and gyms located in business districts have become ghost towns. Office supplies companies, such as Xerox, have suffered. Workwear brands such as J. Crew and Brooks Brothers have filed for bankruptcy, as there is no longer a need to dress for the office.

In Manhattan – arguably the country’s most notorious white-collar business mecca – at least 1,200 restaurants have been permanently lost. It is also is predicted that the one-third of all small businesses will close.

Additionally, the borough is facing twice as many apartment vacancies as this time last year, due to the flight of workers no longer tied to midtown offices. Workers have realized their freedom to seek more affordable and spacious residence outside the city. As companies decentralize from cities and rent prices drop, it isn’t all bad news. There is promise that particular urban white-collar neighborhoods will start to become accessible to the working class once again.

Some companies, like Pinterest and REI, are reporting that their shift to work from home is in fact permanent. The long-term effects of deserted office buildings are yet to make themselves evident. What we do know is that the decline of the white-collar office will force us to reimagine the great American cities – with so much lost due to the coronavirus, what can now be gained?

Continue Reading

Business News

2020 Black Friday shopping may break the mold

(BUSINESS NEWS) Home Depot states their new plan for deals and discounts over two months, in place of a 1-day Black Friday event.

Published

on

Men shopping in an empty aisle, Black Friday to come?

Humans change and adapt – that’s just in our nature. Retail stores have struggled to maintain their sales goals for years as more and more people move to ordering online. Online prices still seem to be within customer expectations and often come with free shipping. Additionally, people that may have preferred to shop in an actual brick-and-mortar store have changed their shopping habits dramatically in 2020; it’s hard to social distance and be safe in crowded stores or in small aisles. Black Friday may be next to change.

Amazon and other big box store’s online ordering platforms have simplified getting what you need delivered right to your front door. According to Statista, “Amazon was responsible for 45% of US e-commerce spending in 2019 – a figure which is expected to rise to 47% in 2020.”

Retailers count on the holiday season, specifically Black Friday deals (the day after Thanksgiving), to bring in up to 20% of their annual revenue. It’s hard to just remove that option completely. But considering the times of social distancing, wearing masks in public, and especially avoiding large crowds, the tradition of Black Friday will need to look different this year.

It will also be interesting to see what supply chain disruptions from early 2020 will have the most effect this shopping season. We saw predictions in March that said the United States would see the biggest disruptions in about six months. Black Friday falls right on that timeline.

Home Depot has announced their plans to go ahead and give the deals over a two month span, starting in early November through December (both online and in stores with the possibility of adding some special deals around the actual Black Friday date) to help encourage a more steady stream of shoppers versus so many packing in on the same day.

The home improvement chain has actually seen a great sales year. This is likely due to people working from home and being interested in doing more home projects (and possibly having a bit more time to do them as well). As of May 2020, “The Home Depot®, the world’s largest home improvement retailer, today reported sales of $28.3 billion for the first quarter of fiscal 2020, a 7.1 percent increase from the first quarter of fiscal 2019. Comparable sales for the first quarter of fiscal 2020 were positive 6.4 percent, and comparable sales in the U.S. were positive 7.5 percent.”

Home Depot, along with many other retailers like Walmart, Target, and Best Buy have confirmed that they will be closed on Thanksgiving Day, which may not be new for all of them but has always signaled the kickoff of the holiday shopping season.

Continue Reading

Business News

Fake news? Well, what about fake reviews?

(BUSINESS NEWS) Amazon is swamped with fake reviews, making it harder than ever to trust whether or not a product is legit. How can you spot them and avoid falling victim to this shady practice?

Published

on

Person shopping online with credit card, but are they reading fake reviews?

These days, most of us have turned to online shopping in lieu of brick-and-mortar establishments to get our favorite items shipped directly to our front door. With many retailers still closed, and many more of us understandably wary of exposing ourselves to the risk of COVID-19, it’s easier to just click “buy” and then spend the next two days with our noses pressed to our windows in anticipation of the arrival of our new toy or garment. But are we at risk of being tricked by fake reviews?

If you’re like most people, you probably depend on product reviews to make a purchasing decision. Honestly, it’s perfectly reasonable to see what others thought of the item before you buy it. These online reviews are almost like your neighbor, who whipped out his lawnmower and bragged how it goes from 0 to 4 mph in less than thirty seconds. Obviously — obviously — you had to run out to your nearest garden center to pick up one of your own after his glowing review of it, right?

That’s kinda like online reviews, too. You can’t just knock on the purchaser’s door and ask them what they thought of it, which is why you carefully peruse those reviews and weigh those pros and cons. Okay, this shirt fits loose. Fine, these kitchen shears broke after three uses. Whoa, this brand of potato chips puts hair on your chest…? Sweet! And you also probably looked at those 3-star reviews, too, to see what was merely “meh” about the product. With this assortment of mixed reviews, you can be confident that you’re making a rock-solid choice.

Uh, sadly, nope.

Unfortunately, Amazon (as well as other major retailers, such as Walmart) are often fraught with a glut of fake reviews. In fact, there are numerous Facebook pages dedicated to the purchase of these reviews, and many of the reviewers are compensated with a monetary reward (usually the cost of the item, plus a few extra dollars for their work) for posting the glowing 5-star rave.

So what can you do to help protect yourself for falling for these seemingly harmless lies?

Well, first and foremost — a fake review isn’t necessarily harmless. If a defective or dangerous product is boosted by a false review, it can seriously harm you. Sure, there’s a good chance the fake reviews are benign, and the worst you’ll be in for it is losing a few bucks on a crap item. But if something is using counterfeit or unsafe ingredients (such as minoxidil in potato chips because, real talk, chips aren’t supposed to put hair on your chest), then yes, you need to be informed of it so you can make an educated decision about whether or not that item is coming home with you.

So, the question remains: How can you, intrepid shopper extraordinaire, avoid purchasing a lemon? (Unless, of course, your goal was to buy an actual lemon in the first place. Margaritas, anyone?) The good news is that there are a couple things you can do. For starters, common sense goes a long way. Do the reviews offer any context, or is it just line after line of, “Loved it!” without any actual feedback on the item? That’s why those 3-star reviews are so priceless. Usually the reviewer actually used the item and had a valid reason for their tepid review, allowing you to make an educated decision about it.

Finally, there are a couple of websites you can use to help you out. First, there’s Fakespot. This web extension will cull out all the fake reviews, allowing you to see at-a-glance the remaining genuine reviews. It then reviews the item for its credibility, letting you know if the seller was trying to pull a fast one on you. Then there’s ReviewMeta. Unlike Fakespot, this website goes through the views and instead of grading the seller, it actually grades the item based on the average score of the remaining real reviews. And by using both of these websites together to check those reviews? You’ve now got yourself a pretty decent idea if the product is actually worth your hard-earned dollars.

It’s far too easy to get scammed these days. However, by staying alert and remaining mindful about your online purchases (and avoiding the temptation to give into those stress-motivated impulse buys), you can avoid being bilked, too. And hey, instead of looking at online reviews, maybe you should go back to the old-fashioned way of doing it: By asking your neighbor for their opinions of items. Just, y’know, do it from at least six feet away, while wearing a face mask.

Continue Reading

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!