Saturday, February 1, 2014

Another Presidential Lie

During his SOTU address, President Obama dredged up the old chestnut about women earning 77 cents for every dollar earned by men. As The Washington Post and The Daily Beast have made clear here and here respectively, the number is bogus.

Women and men make different career choices and exhibit different levels of commitment to their careers. As The Daily Beast notes:
The 23-cent gender pay gap is simply the difference between the average earnings of all men and women working full-time. It does not account for differences in occupations, positions, education, job tenure, or hours worked per week. When all these relevant factors are taken into consideration, the wage gap narrows to about five cents.
As COTTonLINE continues to insist, student occupational choices have economic consequences. The Daily Beast lists the ten most and ten least remunerative college majors. They report men earn most of the degrees in the former, women earn most of the latter degrees.

No kidding.