Raising the minimum wage would help working women and their families, according to a new White House report. The report also takes a look at how raising the minimum wage for tipped workers, 72% of whom are women, is important in helping working families.
When discussing the issue earlier this month, President Barack Obama said:
Most people who would get a raise if we raise the minimum wage are not teenagers on their first job—their average age is 35. A majority of lower-wage jobs are held by women. These Americans are working full-time, often supporting families, and if the minimum wage had kept pace with our economy’s productivity, they’d already be earning well over $10 an hour today. Instead, it’s stuck at $7.25. Every time Congress refuses to raise it, it loses value because the cost of living goes higher, minimum wage stays the same.
Here are seven ways that raising the minimum wage, including the tipped wage, would help working women:
1. Of the workers who would benefit from raising the minimum wage to $10.10, 55% are women.
2. Workers in tipped occupations, such as restaurant servers, bartenders and hairstylists, are 72% women.
3. One-fourth of all workers who would benefit from increasing the minimum wage to $10.10 have dependent children, including 31% of the female workers who would be affected.
4. Nearly 3 million working single parents would benefit from the increased minimum wage, 80% of whom are women.
5. Research shows that raising the minimum wage reduces child poverty among female-headed households.
6. Research shows that raising the minimum wages helps women work their way out of poverty and into the middle class.
7. The Council of Economic Advisers estimates that raising the wage to $10.10, and indexing it to inflation, would reduce the gender wage gap by 5%.