“Over the course of her career, a working woman with a college degree will earn on average hundreds of thousands of dollars less than a man who does the same work. Now, that’s wrong. I don’t want that for Malia and Sasha. I don’t want that for your daughters. I don’t want that to be an example that any child growing up ends up accepting as somehow the norm. I want every child to grow up knowing that a woman’s hard work is valued and rewarded just as much as any man’s.
Now, what’s important to realize also, though, is this is not just an issue of fairness. This is a family issue. This is a middle-class issue. This is an economic issue. Just last week, a report confirmed what we already know: that women are increasingly the breadwinners for American families. Women are now the primary source of income for nearly 40 percent of American families. Forty percent — almost half.
That’s not something to panic about, or to be afraid about -– that’s a sign of the progress and the strides that we’ve made. But what it does mean is that when more women are bringing home the bacon, they shouldn’t just be getting a little bit of bacon. (Laughter.) If they’re bringing home more of the income and that income is less than a fair share, that means that families have less to get by on for childcare or health care, or gas or groceries. It makes it harder for middle-class families to save and retire. It leaves small businesses with customers who have less money in their pockets — which is not good for the economy. That’s not a good example to set for our sons and daughters, but it’s also not a good recipe for long-term, stable economic growth.
So to anyone who says 77 cents on the dollar sounds pretty close to equal, I say, your math is bad….
That’s why, as Valerie mentioned, I created the first-ever White House Council on Women and Girls, which is working to close that gap….
It’s why I established a National Equal Pay Task Force to help crack down on violations of equal pay laws, which, by the way, they’re doing at a record rate. And, through education and outreach, they’re also helping employers develop tools to comply with the nation’s equal pay laws on their own. And that’s why, earlier this year, I signed a presidential memorandum directing the federal government to close that gap for good for its employees. (Applause.) We have to set an example.
It’s also why we’re using the latest technology to help workers get the information they need to figure out if they’re underpaid….
Now is the time for Congress to step up and pass the Paycheck Fairness Act so women have better tools to fight for equal pay for equal work. (Applause.)
Now is the time for us to encourage more young women to pursue math and science education. Now is the time for us to hire more STEM teachers so all our children are prepared for the high-tech, high-wage jobs of tomorrow.
Now is the time to make sure businesses offer men and women the flexibility to be good employees and good parents. And I really want to commend Deloitte and SumAll, and the CEOs who are with us here today, they are creating exactly the kinds of innovative workplaces that help hard-working Americans thrive, and they’re committed to pay equity. And so when you have a chance to talk to Joe, say thank you. And the CEOs who are out there, if you want a first-class company that is tapping into the talents and resources of all your employees, make sure that you’re putting in place systems so that they all feel like they’re being treated fairly and equally. It’s a simple principle and it’s a powerful one.
And now is the time to make sure that we are putting in place a minimum wage that you can live on — (applause) — because 60 percent of those making the minimum wage are women.
If we do all this — and this will be part of our broader agenda to create good jobs and to strengthen middle-class security, to keep rebuilding an economy that works for everybody, that gives every American the chance to get ahead, no matter who you are or what you look like, or what your last name is and who you love.”