SACRAMENTO, Calif. —
Good news for millennials, they’re killing the gender pay gap! The current pay gap between men and women nationally is just over $6. For millennials, that gap is under $3.
They don’t just have other generations beat with lowering that wage gap. They're also decreasing the gap between the amount of men and women in the workforce. Among millennials, 54 percent of men and 46 percent of women make up the millennial workforce. Nationally, men are 56 percent and women are 44 percent of the workforce. That’s a four percent difference between the two.
But don’t get your hopes up just yet with all the good news, there is always some bad. Millennials are still being paid less than other generations, but that’s more likely because they haven’t been in the workforce as long. And although the wage gap is smaller between millennial men and women, there is the slight problem that wage growth is disproportionate. Millennial men see pay increases of 6.2 percent compared to 5.3 for millennial women, so the small pay gap we see now could actually increase over time as millennials work more.
More bad news? Millennial men make more money than their female counterparts across all fields.
So are millennials killing the gender pay gap? Yes, for now at least. More changes need to happen if we want to keep this up.