Texas Women’s Foundation has released new data on the impact of the wage gap on women, families, and the state’s economy as a follow-up to its 2024 Economic Issues for Women in Texas Report.

In its white paper, “Texas Women and the Wage Gap: A Corporate Leader’s Guide to Driving Workforce Sustainability,” TXWF said that the annual impact of the wage gap has grown 27% since 2019 to $60.1 billion annually in lost earnings and economic activity. The organization said that over her lifetime, the average Texas woman stands to lose $750,000 in earnings, impacting her ability to achieve economic security, stability, and success for herself and her family.

“Women represent 46% of the workforce in Texas and drive much of the growth and innovation of the state’s $2.4 trillion economy,” Karen Hughes White, president and CEO of Texas Women’s Foundation, said in a statement. “Couple that with population projections that indicate the continued, outpaced growth of women in Texas and the business case is clear. To sustain the level of economic success we enjoy here in Texas, the time is now to invest in women and that starts with closing the wage gap.”

[Graphic: Texas Women’s Foundation]

Leadership awards and resources

As a core pillar of its mission, the foundation said it invests in women’s lifecycle leadership development via programs such as #BestSelf (teens); the statewide Young Women’s Initiative in partnership with IGNITE (college women); and networking groups such as Nineteen (early to mid-career professionals) and the Executive Leadership Council. Every year the foundation said it recognizes outstanding women leaders at its Leadership Forum & Awards Celebration.

TXWF said this year’s event will be Thursday, May 8, at the Dallas Omni and will honor five recipients of the Maura “Women Helping Women” Awards and two Young Leaders under 40 years old.

The foundation also will be hosting free Work Smart salary negotiation workshops in partnership with the American Association of University Women. These virtual workshops will take place on April 17 and May 15 and participants can register online.

[Graphic: Texas Women’s Foundation]

Wage gap findings

“We’re releasing this data intentionally today. March 25 is recognized as ‘Equal Pay Day,’ representing the amount of extra time women have to work in order to earn as much as much as men did in the previous year. Unfortunately, this date is tied specifically to white women; Black and Hispanic women work much longer to achieve equal pay. The time is now to change that,” Hughes White said.

Texas Women & the Wage Gap’s key findings include:

• Representing 46% of the Texas workforce, women play a pivotal role in driving the growth and innovation of the state’s $2.4 trillion economy.
• Texas women earn an average of 83% of what Texas men earn and Women of Color earn even less.
• This equates to $60.1 billion in lost earnings for women each year and has a direct impact on consumer spending and economic growth.
• The wage gap in Texas has widened over time, growing more than 27% since 2019.
• Over her lifetime, the average Texas woman stands to lose $750,000 in earnings, impacting her ability to achieve economic security, stability, and success for herself and her family.
• Sadly, the wage gap widens as women achieve advanced degrees. Women with graduate or professional degrees earn $37,000 less each year than their male counterparts.
• The lack of access to affordable childcare has an additional $11.4 billion annual impact in lost productivity.

You can read the white paper and the 2024 Economic Issues for Women in Texas here.

Texas Women’s Foundation raises funds from a broad base of donors, including individuals, foundations and corporations. It said those resources support more than $6 million in investments each year that advance economic security and leadership for Texas women and girls through research, advocacy, grantmaking, and leadership programs.

Since its founding in 1985, TXWF said it has invested nearly $85 million in Texas women and girls.

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