Where are the women at? These four women leaders weigh

White women earned 79 cents, while Asian and Pacific Islander women earned 85 cents. Worse yet, black women, who earned 63 cents, while Latinas earned 55 cents and Native American women 60 cents. That’s according to a report from the National Women’s Law Center, which based its estimates on data on the median earnings of full-time, full-year female workers from the Census Bureau.

So what’s the next step for women? CNN Business asked four women leaders for their take on the current situation and their hopes for what lies ahead.

On the pay gap between men and women

Fatima Goss Graves, President and CEO of the National Women’s Law Center

Even before the pandemic, women typically missed the wage gap by more than $ 10,000 each year. These income losses are now intensifying the economic impact of the pandemic-induced recession, depriving women and their families of a financial cushion when they need it most. In the months and years to come, as women who have lost their jobs seek work, there is a risk of the wage gap widening, as many will feel the pressure to take the first offer – often at a lower level than where they were before – just because they don’t have the savings to find something better.

Kim Church, CEO of the American Association of University Women

We are not in a good situation and I fear that things are at best stuck or at worst in decline. Women have suffered more layoffs and job losses during the pandemic because many work in retail and services. And many other women have been forced to quit their jobs because of the demands for care. As we embark on plans for economic recovery, we must address the systemic issues that are driving the gender pay gap. Until Covid-19, women were making major progress, but the pandemic has set back all of our hard-earned progress. We must redouble our efforts to achieve parity and demand change now.

Rachel Thomas, co-founder and CEO of LeanIn.org

The pay gap hurts all women, but it’s also essential to recognize that it hurts some women far more than others. Latinas and black women face huge systemic barriers. They are overrepresented in low-paying jobs that do not provide essential benefits like paid time off. Many are grappling with the cost of child care, which has nearly doubled over the past two decades. And they face discriminatory lending practices that make it harder to accumulate wealth. Correcting this will require real systemic change. Business leaders must close the gender and race pay gap once and for all. And policymakers need to raise the minimum wage to $ 15 an hour, make child care much more accessible and affordable, and offer paid family leave to all employees.

Dr. C. Nicole Mason, President and CEO of the Institute for Research on Women’s Policy

The gender pay gap continues to impact women’s economic security and long-term well-being. Since 1985, the gap has only been closed by about 18 percentage points. It’s freezing. At this rate, it will take more than 40 years to close the wage gap. For black and Latin women, it will take over a century. This means that my daughter and my daughter’s daughter will not see pay equity in their lifetime. Women earn less than men in almost all occupations. This is true for predominantly female occupations and for predominantly male occupations.

On the women at the head

Churches: Of course, we have made notable progress. America today elected a woman vice president; the most powerful person in Congress is a woman; the number of women running Fortune 500 companies has hit an all-time high of 37. But come on – that’s far from fair! Women make up about half of the workforce, and we are still far from occupying half of management positions in all sectors. We need a culture change and we need to be proactive in breaking down the barriers and prejudices that prevent women from reaching leadership positions in all fields.

Serious: The solutions that will allow families to emerge from this pandemic will in large part be through the inclusion of women in the rooms where these decisions are made. Women – especially women of color – understand the experiences of those who suffer most. But we must remember that if these leaders are here right now, it may not be the case without an intentional investment in a generation of leaders to come behind them. So many women have been made unemployed due to the Covid-19 crisis. These women are not only the workers of today, they are the leaders of tomorrow.

Mason: I am optimistic about the leadership of women. Right now, women are leading in a huge way. From Kamala Harris, the first female vice president, to Sue Nabi, CEO of Coty to Secretary Janet Yellen, women are looking at this moment and serving as national experts on critical issues, such as the economy, national security and growth in the private sector. sector. They demonstrate how to lead inclusively and with an eye on our greater common good.

Thomas: Senior leaders are under enormous pressure right now – and women face the same demands as men and more. This is probably rooted in two dynamics: Senior women are more likely to have childcare responsibilities, and decades of social science research show that we hold women in leadership higher than men. . Female leaders are twice as likely as senior men to think about downgrading their careers or leaving the workforce as a result of Covid-19. Women are already underrepresented in leadership and we cannot afford to lose what little we have. Compared to men at the same level, female leaders are more likely to advocate for racial and gender diversity, advocate for employee-friendly policies and programs, and mentor and sponsor other women.

On women in the labor market

Mason: The pandemic has had a disproportionate impact on women, forcing more than five million women out of the workforce. The intersection of motherhood and work has certainly made the economic recession more excruciating for women. It is a moment of public recognition and revelation that would not have been possible without the double crisis of the pandemic and the economic recession. I hope we can use it to push us to reinvent a society, including our workplaces and homes, that is more supportive of working women and their families.

Serious: Even before the pandemic, millions of poorly paid women across the country were on the edge of a tax cliff – barely living paycheck to paycheck, tinkering with makeshift daycare centers and routinely lacking basic protections like paid sick leave and health insurance. Once the pandemic struck, massive job losses by women in sectors where they were the vast majority of workers – such as retail, leisure and hospitality, and education – were met with a decline. collapsing childcare system to create a perfect storm that has thrown women – disproportionately black women and poorly paid Latinas – in the crosshairs of the crisis. Women seeking to re-enter the workforce after the Covid-19 crisis will need all the tools at their disposal to avoid long-term damage to their wages and ensure the ability to challenge discrimination when it occurs.

Thomas: In short, Covid-19 is a disaster for women in the workforce. Businesses need to double their efforts in retaining, hiring and promoting women – and tackling the barriers and prejudices that have long limited the advancement of women – or they risk losing years of progress towards success. gender equality. It will also be essential for companies to create a culture that embraces virtual work and create standards and processes to ensure remote workers receive the same support, access and opportunities as office workers. Otherwise, remote employees – who are likely disproportionately female – will be overlooked and excluded.

Churches: There is no doubt, not at all, that women are a vital part of the workforce and that the US economy benefits greatly from their contributions. But a worrying issue is the gender perspective of our workforce: men still dominate in some areas and women in others, usually those who pay the least. It is occupational segregation in a nutshell. There is no reason why more women should not work in manufacturing, trades and, of course, STEM fields. Just as there is no reason why men should not have jobs as teachers, librarians, nurses. Research has repeatedly shown that a company’s bottom line is improved by a diverse workforce. It is in everyone’s interest that we do this.