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Black Women's Equal Pay Day was on Tuesday — the average Black woman works to this date to finally earn what the average non-Hispanic white man made the year prior. This wage gap means that Black women are denied an estimated $900,000 in lifetime earnings. The day falls four months after Equal Pay Day, averaged for all women, reflecting the even more significant gap Black women face.
As we previously wrote, the pandemic has exacerbated this already large wage gap — Black women lost their jobs in disproportionate numbers. In addition to the profound individual implications, the wage gap and unemployment affect our overall economy. As we imagine what we want a post-pandemic economy to look like, we all will be on the lookout for initiatives and actions that close the wage gap and support a stronger presence of women, especially women of color, in the workforce.
This JUST Capital discussion shows there's no shortage of opportunities for policymakers, CEOs, and leaders in all industries to push innovative and equitable structures and support systems that can make a real impact for women and people of color in the workforce, while also making companies more competitive and profitable.
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| Renewable Energy Investment Rose to a Record in First Half |
| As much as $174 billion was invested in solar, offshore wind, and other green technologies and companies in the first half of the year. This shows resilience in the face of rising costs because of the surge in commodity prices. However, it’s way below what’s needed for nations and companies to reach their emissions targets. |
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| Plan to Spur Diverse Corporate Boards |
| The Securities and Exchange Commission is expected to give initial approval of a Nasdaq board diversity proposal by August 8. Nasdaq’s plan would be the most significant diversity requirement since the 2018 and 2020 California laws mandated diverse boards for companies headquartered in the state. |
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| INCLUSIVE ENTREPRENEURSHIP |
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| Nontraditional Investors Are Shaking Up the Status Quo |
| PitchBook data shows that US startup financing in 2021 is on track to nearly double 2020's record, with more than three-quarters of invested capital coming from nontraditional venture investors in the second quarter. This is having ripple effects for founders and traditional VCs. |
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| Fortune Global 500 |
| Every year, Fortune publishes the Global 500, a list of the 500 largest companies in the world. This year, 23 women — including six women of color — are running companies on the Global 500. While this is an all-time high and a recovery from 2020, the Global 500 is still overwhelmingly male. |
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| Video: Women & Diversity in the Workforce |
| Jean Case and Mellody Hobson, Co-CEO and President of Ariel Investments join JUST Capital to explore how we can address the needs of women and workers of color in a post-pandemic workforce. |
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| Education Programs Gain Steam As Employee Perk |
| Target joins other retailers and restaurant chains — including Chipotle and Starbucks — to help employees pay for college. Walmart also recently announced it would cover the full cost for its employees (it had previously required them to pay $1 a day). |
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