Yes, the gender pay gap is real

The question is what to do about it

Working woman
(Image credit: (Thinkstock))

Yesterday was Equal Pay Day, an annual event to raise awareness of the gender pay gap. The date was chosen for a very good reason: Because women make 77 cents for every dollar men earn, the average woman would have to work an extra 68 days — from the start of January to April 8 — to earn the same amount as a male peer.

Yet some say that the gap doesn't really exist, or at least is much smaller than widely stated. Mark J. Perry and Andrew G. Biggs, scholars at the American Enterprise Institute, wrote an op-ed in The Wall Street Journal this week, suggesting that "the numbers bandied about to make the claim of widespread discrimination are fundamentally misleading and economically illogical."

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.