3.25 Equal Pay Ratio

Summary of Findings:

Overall Trend:
The earnings ratio shows fluctuations over the years, with a general decline from 2014 to 2021. The ratio started at 0.905 and fell to 0.86.
Yearly Progression:
2014: The ratio was 0.905, indicating relatively close earnings between demographics.
2015: An increase to 0.924, suggesting improvements in pay equity.
2016: A decline to 0.89, indicating a slight setback.
2017: Recovery to 0.92, signaling ongoing efforts to address pay disparities.
2018: A drop to 0.89, showing volatility in progress.
2019: Further decline to 0.864, which raises concerns about equity efforts.
2021: The ratio reached 0.86, the lowest in this period, indicating persistent disparities.
2040 Target:
The target for 2040 is set at 1, representing a goal of achieving complete pay equity.

Conclusion:

The data reflects a concerning trend in the Equal Pay Ratio, particularly with the decline observed from 2014 to 2021. While there were some improvements, the overall direction suggests ongoing challenges in achieving pay equity. To meet the 2040 target of 1, it will be essential to implement robust policies and practices that address pay disparities, engage in continuous monitoring, and promote transparency in pay structures.