CHARLOTTE – Two-thirds of U.S. workers don’t believe they’re being paid enough to combat rising costs due to inflation.
That’s according to a report from Charlotte-based Credit Karma, which analyzed survey data gathered by a third party on behalf of the company.
The report also found that while one in three women reported they believed they were underpaid, one in four men said the same. Overall, three in ten workers said they were not paid fairly at work.
The report comes following media reports of the results of Google’s employee satisfaction, with fewer than half of the employees surveyed by the tech giant saying they were fairly compensated for their roles compared to other, similar roles at other firms.
And, the Credit Karma report comes after the most recent report from the U.S. Labor Department on the change in the consumer price index, which found that inflation is 7.9 percent over the prior 12-month period, the highest such change in decades.
‘Occupational segregation’ drives down women’s pay, says fed labor exec
Gender pay gap
Women still earn just 82.3 percent compared to men, according to the most recently available U.S. Department of Labor Bureau of Labor Statistics data.
According to the Credit Karma analysis of survey data, 71 percent of American workers reported a belief that it was important for their employer to prioritize pay equity and another 74 percent of workers said they prioritize salary when looking for a new job or opportunity.
“Two in three women say their current salary is holding them back from reaching their financial goals, including paying off debt and saving for retirement,” the report reads. “What’s more, of the women who say their current salary is holding them back, 35 percent say it’s keeping them from being able to pay for necessities.”
There are similarities, as well, notes Credit Karma’s report, for those people who identify as non-white. According to the report, 66 percent of non-white respondents said that their current salary is “holding them back from things like paying off debt, buying a house and building an emergency savings fund.”
And then there’s what a U.S. Labor Department official called “occupational segregation” on Monday. The official, Charmaine Davis, said on a call on Monday where the topic of discussion was how to address the gender wage gap and increase pay equity that lower wages paid to women are “anchors can weigh them down.”
